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RESOLUTION AGReeING TO TB%~E ~oPROPRIATE ACTION INCID~ff RD ['~J{ING APPLICATION FOR FLOOD' INSg'RANCm. WHEREAS, the City of Portsmouth ~ Virginia, hereby ex- presses positive interest ~n sec~i~ipg flood ir~o~&nce ti~ough the flood inso~ance p~ogr&m actTf~nistered by the Secretary of Housing and Urban Develot~ment under the provisions of the Natiop~t Flood Ins~trance Act of i968; an~ ~LREB=S, under the provisions of Article 8, Chapter II, Title 15.1, of the Code of Virginia, s£ amended, the City of Ports- mouth, Virginia, is authorized to regulate lsand use in flood-prone areas within its boundaries; and ~RK~S, lands within the boundaries of the City of Ports- mouth, Virginia: are subjected to periodic inundation by floodwaters from th~ E!mzaoeth River sand its tribute_~ies; and. WHERF~, such periodic inundation by flood~,~aters in the pas~ has caused 'damage to end loss of proper~y, and such losses may ~be expected to occur in the future; and ~YHEREAS, no insurance is available to cover adequately those losses which may be expected to occu~ from time to tmme as a result of periodic flooding in those areas affected; ~nd ~EREBS, the City' of Portsmouth, Virginia, recognizes the existence of an extreme nee~ for flood insure~nce to ~maintain the economic and social wetl-be~ng of those in the affected areas and is desirous of meetLng that need through participation in the National Flood Insurance Program; and ~?HEREAS, the City of Portsmouth, Virgjhnia~ is willip~ and able to regulate floodplain land use throu~'a appropriate zoning, sub- division regalatiop£, building codes, easements, and other regolatoz~y measures for floodplain mm~gement; and ~.~ERK!S, the City of Portsmouth, Virginia, is willing to cooperate with local, federal, and state agencies in the study, identi- fication, and m~pp%~ of flood-prone areas wit~ its boundaries; s_nd to cooperate with local, federal, sand state agencies in the evaluation of floodplsfim haz~_~d~.~; sand ~I~EBEA. S, the City of Por~tsm©uth~ Virginia~ is willing and able to take such other official action as F.~y be necessar~y to ca_~y out the objectives of the Natior~i Flood imsursance _Progr~am;