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<br />. <br /> <br />. <br /> <br />. <br /> <br />, <br /> <br />R-05-31 <br /> <br />A RESOLUTION AUTHORIZING A MEMORANDUM OF UNDERSTANDING <br />BETWEEN THE CITY OF PORTSMOUTH, PORTSMOUTH VENTURE ONE, L.L.C <br />AND THE PORTSMOUTH CITY PUBLIC SCHOOL BOARD, CONCERNING A <br />COMMUNITY DEVELOPMENT AUTHORITY AND RELATED MATTERS. <br /> <br />BE IT RESOLVED by the Council of the City of Portsmouth, Virginia, that the City <br />Manager, acting for and on behalf of the City, is authorized and directed to enter into a <br />Memorandum of Understanding with Portsmouth Venture One, L.L.C. and the Portsmouth City <br />Public School Board which is substantially the same as the instrument attached hereto and made <br />a part hereof. The Memorandum of Understanding deals generally with creation of a <br />Cornmunity Development Authority and related matters. <br /> <br />This resolution shall be effective immediately upon its adoption. <br /> <br />ADOPTED by the Council of the City of Portsmouth, Virginia, at a meeting held on <br />June 28, 2005. <br /> <br />Teste: <br /> <br />City Clerk <br />