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AN ORDINANCE TO AMEND CHAPTER 40 OF THE CODE OF THE CITY OF PORTSMOUTH, VIRGINIA (1988) BY ENACTING NEW SECTIONS 40. 46, 40-46.1, AND 40-46.2 PERTAINING TO THE CREATION OF PARKING OVERLAY DISTRICTS. BE IT ORDAINED by the Council of the City of Portsmouth, Virginia: 1. That new Sections 40-46, 40-46.1 and 40-46.2 to the Code of the City of Portsmouth, Virginia (1988) be enacted to read as follows: Section 40-46 Parking Overlay Districts. Certain geographic areas of the City of Portsmouth present unique development opportunities of a special value to the community. In order to ensure that the economic, social and cultural benefits of these opportunities are maximized, Parking Overlay Districts may be created to promote flexibility in site design, integration between adjoining land uses, efficient patterns of development, and achievement of economies through maximum utilization of existing parking facilities through shared parking. Sec. 40-46.1 Parking Overlay District; application process and elements The City Manager or his designee may initiate an amendment to the zoning Ordinance for the establishment of a Parking Overlay District. Properties located within a Parking Overlay District shall be subject to the off-street parking requirements established by the amendment notwithstanding the parking requirements of Section 40-45. The application for the creation of the district and its supporting materials Shall include the following elements: a) the boundaries of the proposed district; b) the rationale supporting creation of the district; c) the parking standards proposed to be applied to specific uses within the district; and, d) the parking assets available to offset the reduction in the number of required off-street parking spaces within the district. The amendment process shall comply with the procedural requirements of Article VII of this chapter.