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R'02-08 <br /> <br />A RESOLUTION AUTHORIZING THE HAMPTON ROADS PARTNERSHIP TO <br />CARRY OUT THE PROVISIONS OF THE REGIONAL COMPETITIVENESS <br />PROGRAM (RCP) AND APPROVING THE FUND DISTRIBUTION <br />METHODOLOGY PROPOSED BY THE HAMPTON ROADS PARTNERSHIP. <br /> <br /> WHEREAS, the 1996 Virgima General Assembly adopted the Regional <br />Competitiveness Act (the Act), Chapter 26.3 of Title 15.1 (Sections 15.1-1227.1 through <br />I5.1-1227.5) of the Code of Virginia, 1950, as amended, to encourage counties, cities and <br />towns to work together for their mutual benefit and that of the Commonwealth of <br />Virginia; and <br /> <br /> WHEREAS, to encourage regional strategic planning and cooperation, the Act <br />establishes an incentive fund administered by the Virginia Department of Housing and <br />Community Development (VDHCD) to be used to encourage and reward regional <br />strategic economic development planning and joint activities; and <br /> <br /> WHEREAS, the Act provides a monetary incentive, which totaled Ten Million, <br />Two Hundred, Sixty-Seven Thousand, Two Hundred Dollars ($10,267,200) in 1997, for <br />distribution among the State's regions for communities to undertake new levels of <br />regional activity to address obstacles to economic competitiveness, by granting funds for <br />five (5) years in accord with VDHCD standards adopted pursuant to the RCP; and <br /> <br /> WHEREAS, incentive funds will be disbursed to eligible regions in an amount <br />equal to the percentage of the funds appropriated in incentive payments for a fiscal year <br />that represents the region's percentage of the total population of all eligible regions with a <br />minimum of $300,000 (FY 2002); and <br /> <br /> WHEREAS, the Hampton Roads Partnership (the Partnership) is a Virginia non- <br />profit, non-stock corporation comprised of leading representatives from the public, <br />business, education, civic, and military communities and whose mission is to enhance <br />regional cooperation and improve economic competitiveness in the Hampton Roads <br />Region (the "Region") which Region includes the Cities of Chesapeake, Franklin, <br />Hampton. Newport News, Norfolk, Poquoson, Portsmouth, Suffolk, Virginia Beach, and <br />Williamsburg and the Counties of Gloucester, Isle of Wight, James City, Southampton, <br />Surry, and York; and <br /> <br /> WHEREAS, the Partnership revised its strategic plan in 1999, and further <br />modified that plan in 2001, and as such has a clear strategic road map for improving the <br />economic competitiveness of the Hampton Roads Region; and <br /> <br /> WHEREAS, a copy of the Modified Strategic Plan is attached hereto as Exhibit <br />A to be read as a part hereof; and <br /> <br /> <br />