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R-04-46 A RESOLUTION IN SUPPORT OF COMMONWEALTH OF VIRGINIA FUNDING IN THE AMOUNT OF $325,000 FOR CONSTRUCTION OF RAILROAD TRACKS TO SERVE NEW INDUSTRIAL DEVELOPMENT AT 3600 ELM AVENUE. WHEREAS, Fomazor International, doing business as ARREFF Terminals, Inc., ("ARREFF") has operated ARREFF Terminals in the city of Portsmouth since 1966. WHEREAS, Fornazor Intemational has recently acquired industrial property located at 3600 Elm Avenue for the purpose of operating a food-grade bagging system and operation for agricultural commodities and animal feed ingredients ("the Development"); and WHEREAS, the Development will require the construction of approximately 1800 feet of new railroad track; and WHEREAS, the General Assembly provides for funding for certain improvements and procurement of railways in the Commonwealth of Virginia; and WHEREAS, ARREFF desires to file an application with the Virginia Department of Rail and Public Transportation for Industrial Access Railroad Track Funds in the amount of $325,000 for funding assistance for the new track; and WHEREAS, the Development will involve a capital investment of approximately $1,000,000 over the next year and will create approximately 40 jobs for residents of surrounding neighborhoods; and WHEREAS, the proposed new tracks are essential for successful operation of the Development; and WHEREAS, the City of Portsmouth supports the proposed Development including the construction of the new railroad track. NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Portsmouth, Virginia, that the City does hereby request that the Virginia Department of Rail and Public Transportation give priority and favorable consideration to ARREFF's funding application for the proposed new railroad track. ADOPTED by the Council of the City of Portsmouth, Virginia, at a meeting held on August 24, 2004. Teste: City Clerk