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82 <br /> <br />A RESOLUTION AUTHORIZING THE CITY ~NAGER TO MAKE JOINT <br />APPLICATION WITH THE CITY OF NORFOLK FOR URBAN ENTERPRISE <br />ZONE DESIGNATION; AUTHORIZING THE CITY MANAGER TO SUBMIT ALL <br />INFORMATION NECESSARY FOR SUCH APPLICATION AND TO ADMINISTER <br />THE PROGP~AM AND REPORTING REQUIREMENT UPON RECEIPT OF SUCH <br />DESIGNATION. <br /> <br /> WHEREAS, the General Assembly of Virginia has adopted the <br />Urban Enterprise Zone Act for the purpose of stimulating business <br />and industrial growth and private sector investment, which would <br />result in neighborhood revitalization in such areas of the Co~m~on- <br />wealth as may be designated by means of regulatory flexibility <br />and tax incentives; and <br /> <br /> WHEREAS, the Council of the City of Portsmouth deems it to <br />be in the best interest of the City to make joint application <br />with the City of Norfolk to the Department of Rousing and <br />Comx~unity Development of the Commonwealth of Virginia for <br />designation of a certain portion of the respective cities as an <br />Urban Enterprize Zone to be eligible for the benefits of <br />said Act; and <br /> <br /> WHEREAS, the Council of the City of Portsmouth has reviewed <br /> and considered the regulations and the application concerning <br /> the regulatory flexibility and tax incentives to be provided and <br /> the administration of such area and deems the same to be appro- <br /> priate; and <br /> <br /> WHEREAS, the City of Norfolk has agreed to be designated <br /> as program administrator. <br /> <br /> NOW, THEREFORE, BE IT RESOLVE~ by the Council of the City <br /> of Portsmouth, Virginia, that the City Manager be, and he hereby <br /> is, authorized to make joint application with the City of Norfolk <br /> for designation of certain portions of the respective cities as <br /> an Urban Ente~Dr±se Zone. <br /> BE IT FURTHER RESOLVED that the City of Norfolk shall be <br /> designated as the program administrator. <br /> <br /> BE IT FURTHER RESOLVED that the City Manager be, and he <br /> hereby is, authorized to submit all information necessary in <br /> connection with such application and to meet all other <br /> administrative and reporting program requirement upon such <br /> designation. <br /> <br /> Adopted by the Council of %he City of Portsmouth, Virginia, <br /> at a meeting held September 13, 1983. <br /> <br />Teste: <br /> <br />City Clerk <br /> <br /> <br />