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A RESOLbTION ESTABLISHING t~rNE POLICY ~WOR ~)UST?_IAL I~ ~E CiTY OF PORTSMOUT-H &R~) DESIGNATING I~E I~FDuSTR~L DE~mLOP M~NT A~i~'0RITY OF THE CITZ~ OF PORTSM0~JFH AS ~MJ~ C00RDI~ATi]~G AGW~. ~CY ~HERm~W~OR. ~Yr~REAS~ improvement of the economic fu'~2re of the City is dependent mpon ifidustrial development ~ smd bT~V~F~S, there are several agencies in the City~ both public mhd private~ emgaged in industrial devel0pment~ smd WB~PFm~S~ in or,.er to sec~Ar~e optim'~m industrial develop- ment there should be coordination of the efforts of all of these agencies. NOW, ~.~-~ORE, BE IT RES~ OL~D by the Coum. cil of the City of Portsmouth~ Virginia: 1. That in order to sectme the more orderly, inO~strial develop- ment of the City, the Industrial Development Authority of the City of Portsmouth is hereby designated as the cooz~im~ti.m.~ agency for industrial development. 2. 'The duties mhd responsibilities hereir~fter set forth are assi~ed to the following agencies: a. Industrial Authority of the City of Portsmouth (1) Supervise amd coo~dinate industrial development activity within the city. (2) Keep the City Council Lnforined of such activity. (3) Coordimte news releases s~nd sts/oaments of such activity from cooperating agencies. (2) Approve industrial development b(~dgets of co- operating agencies, (5) Perform such other duties as m~y be ~posed upon it by ~aw. b. Portsmouth Poz~o mhd Industrial Commission. (1) (2) (3) Be respor~ible for port aevelop,.~n~, traffic proeu_r~ment ~ and back-up ~,mmhous)~q~. Coordinate plans with the Vi~r~a State Ports Authority. Report mont~!y om its developme~t activity to the in5fastrial DevelopFent Authority.