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R-98-t7 A RESOLUTION AUTHORiZING THE HAMPTON ROADS PARTNERSHIP TO CARRY OUT THE PROVISIONS OF THE REGIONAL COMPETITIVENESS PROGRAM (RCP) AND APPROVING THE FUND DISTRIBUTION METHODOLOGY PROPOSED BY THE HAMPTON ROADS PARTNERSHIP. WHEREAS, in 1996 the Virginia General Assembly adopted the Regional Competitiveness Act (the Act), Chapter 26.3 of Title 15.1 (Section 15.1-1277.1 through 15.1-1227.5) of the Code of Virginia, 1950, as amended, to encourage counties, cities, and towns to work together for their mutual benefit and that of the Commonwealth of Virginia; and WHEREAS, to encourage regional strategic planning and cooperation, the Act establishes an incentive fund administered by the Virginia Depamuent of Housing and Community Development (VDHCD) to be used to encourage and reward regional strategic economic development planning and joint activities; and WHEREAS, the Act provides a monetary incentive, totaling Ten Million, Thirty- five Thousand, Two Hundred Thirty-nine Dollars ($10,035,239) in 1998, for distribution among the State's regions to communities that have qualified pursuant to the Act and in accordance with all applicable statutes and by procedures adopted by the VDHCD, with the 1998 incentive funds being due July, 1998; and WHEREAS, incentive funds will be disbursed to qualified regions in an amount equal to the percentage of the funds appropriated in incentive payments for a fiscal year that represents the region's percentage of the total population of all qualified regions; and WHEREAS, the Hampton Roads Parmership (the Partnership) is a Virginia non- profit, non-stock corporation comprised of leading representatives from the public, business, education, civic, and military communities and whose mission is to enhance regional cooperation and improve economic competitiveness in the Hampton Roads Region (the Region), which is defined as the Cities of Norfolk, Virginia Beach, Portsmouth, Chesapeake, Suffolk, Newport News, Hampton, Franklin, Poquoson, and Williamsburg; the Counties of Gloucester, Isle of Wight. James City, Southampton, and York; and the Town of Smithfield; and WHEREAS, the Partnership in close cooperation with the Hampton Roads Planning District Commission submitted the Region's successful application for Regional Competitiveness Program (RCP) incentive funding in June, 1997 and received such funding in October, 1997; and WHEREAS, in recognition of the Partnership's role in fostering regional cooperation and economic competitiveness, the Hampton Roads Mayors and Chairs Caucus supports distributing all RCP funds received by the Region directly to the partnership (distribution methodology); and