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31 A RESOLUTION ENDORSING THE CONTINUATION OF THE ECONOMIC DEVELOPMENT ADMINISTRATION AS A SOURCE OF FINANCIAL AS- SISTANCE FROM THE FEDERAL GOVERNMENT TO THE LOCALITIES. WHEREAS, the City of Portsmouth has participated in Economic Development Administration programs since 1975; and WHEREAS, during this period the City of Portsmouth and private enterprise in the City of Portsmouth have been the beneficiaries of Economic Development Administration Public Work Grants, Planning Grants, and loans to the extent of 4.55 million dollars; and WHEREASr the City of Portsmouth has been the beneficiary of an additional 2.5 million dollar grant through the Local Public Works Program administered by the Economic Development Administration; and WHEREAS, said grants to the City of Portsmouth and to private enterprise located in the City of Portsmouth have enabled the City to complete the construction of public improvements such as drainage projects and in cooperation with private enterprise such as Virginia Products Corporation to secure jobs for the citizens of Portsmouth, which improve- ments and employment would not have been possible without support of the Economic Development Administration; and WHEREAS, the City of Portsmouth intends to seek the financial assistance of the Economic Development Adminis- tration for other projects designed to expand the local tax base and create ne%~ opportunities for the citizens of the City of Portsmouth; and ~HEREAS, the present federal administration has re~oraraended to Congress that the Economic Development Ad~_inistration be terminated upon the expiration~of all current grants to the localities; and WHEREAS, it is the opinion of this Council that the programs of the Economic Development Administration should be continued as part of the program of financial assistance to the localities and to private enterprise to encourage the Economic Development and secure employment opportunities for citizens of the locality. NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Portsmouth, Virginia, that this Council does hereby express its endorsement for the continuation of the programs of the Economic Development Administration as a source of financial assistance from the Federal Government to the localities for the purpose of encouraging economic development- an~'providing employment-opportunities for the-citizens.