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134 <br /> <br />A RESOLUTION SUPPORTING THE DEVELOPMENT OF A SMALL <br />BUSINESS DEVELOPMENT PROGRAM AND AUTHORIZING THE CITY <br />MANAGER TO SUBMIT AN APPLICATION FOR FUNDING. <br /> <br /> WHEREAS, the Council of the City of Portsmouth, <br />Virginia, recognizes the important contribution of small <br />business to local job creation and the expansion of the <br />tax base; and <br /> <br /> WHEREAS, the Small Business Development System, <br />developed by the Economics Department of the Bank of <br />Boston, is directed specifically at successful <br />identification of promising business opportunities and <br />the formation of small business within a targeted area; <br />and <br /> <br /> WHEREAS, the Small Business Development System <br />links together market opportunities, access to capital <br />and management training and, when implemented, will <br />encourage the growth of new small and minority <br />businesses; and <br /> <br /> WHEREAS, <br />the number of <br />and <br /> <br />the newly created businesses will expand <br />job opportunities available in Portsmouth; <br /> <br /> WHEREAS, the Department of Housing and Urban <br />Development is requesting application for grant funds to <br />replicate the Small Business Program. <br /> <br /> NOW, THEREFORE, BE IT RESOLVED that the Council of <br />the City of Portsmouth, Virginia endorses the <br />development of a Small Business Development Program and <br />that the City Manager be, and he hereby is, authorized <br />to submit an application to the Department of Housing <br />and Urban Development to replicate the Small Business <br />Development System and to execute any documents as may <br />be required in order to implement the Program. <br /> <br /> Adopted by the Council of the City of Portsmouth, <br />VirgInia, at a meeting held November 12, 1985. <br /> <br />Teste: <br /> <br />City Clerk <br /> <br /> <br />