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58 <br /> <br />A RESOLUTION ADOPTING A PUBLIC POLICY ON PUBLICLY-FUNDED <br />DEVELOPMENT INCENTIVES AND INTRA-REGIONAL COMPETITION. <br /> <br /> WHEREAS, a regional policy on competition for economic <br />development has been proposed to member localities of the <br />Hampton Roads Planning District Commission; and <br /> <br /> WHEREAS, this policy recognizes that the various localities <br />are involved In such competition, but at the same time share a <br />mutual interest in managing the competition in ways that foster <br />the region's growth without unfairly affecting the economic <br />interests of each other; and <br /> <br /> WHEREAS, the policy suggests that incentives should be as <br />limited as possible and sets forth guidelines as to how <br />competition among member localities should be managed; and <br /> <br /> WHEREAS, this proposed policy was reviewed and revised by <br />the region's economic development directors and received their <br />endorsement; and <br /> <br /> WHEREAS, the Hampuon Roads Mayors and Chairs Caucus has <br />requested the governing body of each member locality to approve <br />the proposed policy. <br /> <br /> NOW, THEREFORE, BE IT RESOLVED, by the Council of the City <br />of Portsmouth, VirginIa, that the Council hereby adopts the <br />proposed policy, contingent upon its adoption by the governing <br />bodies of the member localities of the Hampton Roads Planning <br />District Commission. <br /> <br /> Adopted by the Council of the City of Portsmouth, Virginia, <br />an a meeting held on August 22, 1995. <br /> <br /> Teste: <br /> <br /> <br /> City Clerk <br /> <br /> <br />