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13 <br /> <br />A RESOLUTION EXPRESSING THE CONCERN OF THE COUNCIL OF SHE <br />CITY OF PORTSMOUTH WITH RESPECT TO PROPOSALS FOR CRANEY <br />ISLAND. <br /> <br /> WHEREAS, in 1946, the Governor of Virginia conveyed <br />certain submerged lands containing 2,500 acres, more or <br />less, known as Craney Island, iylng and being in Hampton <br />Roads to the United States of America to be used as a <br />disposal site for material dredged from HamDton Roads <br />Harbor; and <br /> <br /> WHEREAS, Craney Island.is within the boundaries of the <br />City of Portsmouth and its ultimate development is vital to <br />the economic vitality of the City of Portsmouth and the <br />Commonwealth of Virginia; and <br /> <br /> WHEREAS, Craney Island represents a site of <br />substantial size which the City of Portsmouth can offer for <br />expansion of its tax base to the relief of its private <br />homeowners and residents; and <br /> <br /> WHEREAS, in excess of sixty percent (60%) of the <br />of the City of Portsmouth is nontaxable either as real <br />estate or personal property primarily by reason of <br />ownership thereof by federal or state governmental <br />agencies; and <br /> <br />land <br /> <br /> WHEREAS, the Virginia Port Authority has expressed an <br />interest in acquiring one hundred fifty (150) acres on <br />Craney Island for the development of an automobile import <br />facility; and <br /> <br /> WHEREAS, the Council of the City of Portsmouth has <br />steadfastly expressed its intention to acquire Craney <br />Island to assure its development in a manner which will <br />guarantee maximum tax benefits for the City and its <br />citizens; and <br /> <br /> WHEREAS, the Council of the City of Portsmouth is <br />committed to assure that Craney Island is developed in a <br />manner compatible with the continued residential expansion <br />occurring in the neighborhoods in close proximity thereto. <br /> <br /> NOW, THEREFORE, BE IT RESOLVED that the Council of the <br />City of Portsmouth expresses its concern relative to the <br />development of Craney Island and the proposed acquisition <br />by the Virginia Port Authority and requests that the <br />Portsmouth Delegation to the General Assembly of Virginia <br />obtain from the Governor of Virginia assurances that the <br />development of Craney Island will provide the City of <br />Portsmouth with revenue constituting full tax equivalency <br />as would be applicable if development were undertaken by <br />private enterprise and that any development by the Virginia <br /> <br /> <br />