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<br />.., <br /> <br />R-11-28 <br /> <br />A RESOLUTION AUTHORIZING THE CITY MANAGER TO APPLY FOR A GRANT <br />UNDER THE VIRGINIA DEPARTMENT OF HOUSING AND COMMUNITY <br />DEVELOPMENT INDUSTRIAL REVITALIZATION FUND PROGRAM. <br /> <br />WHEREAS, the Virginia Department of Housing and Community Development <br />Industrial Revitalization Grant Program (the "Program") provides grants for the revitalization of <br />large-scale non-residential structures; and <br /> <br />WHEREAS, Portsmouth Redevelopment and Housing Authority ("PRHA") intends to <br />cause the rehabilitation of the former Virginia Employment Commission building located at <br />3116 South Street (the "Property") to provide new office space for PRHA; and <br /> <br />WHEREAS, the rehabilitation of the Property and the relocation of the PRHA offices <br />will provide a significant economic benefit to the Midtown corridor by revitalizing a blighted <br />structure and by adding a substantial number of workers in the area to support new and existing <br />Midtown businesses; and <br /> <br />WHEREAS, only localities are eligible to apply for a grant under the Program and the <br />City of Portsmouth therefore desires to apply for a grant in an amount of $600,000 to fund a <br />portion of the cost of rehabilitating the Property; and <br /> <br />WHEREAS, PRHA has committed matching funds in the amount of not less than <br />$600,000 to satisfy the local match requirement of the Program; and <br /> <br />WHEREAS, the City of Portsmouth hereby designates PRHA as its agent for <br />implementing and administering activities under the Program. <br /> <br />NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Portsmouth, <br />Virginia that the City Manager is authorized to a.pply for a grant under the Program in the <br />amount .of not to exceed $600,000 for the rehabilitation of 3116 South Street. <br /> <br />BE IT FURTHER RESOLVED that PRHA, or such other affiliated entity as the City <br />Manager may deem appropriate, is designated as the City's agent for implementing and <br />administering activities under the Program. <br /> <br />BE IT FURTHER RESOLVED that the City Manager is authorized to execute the <br />application for a grant and such other documents as may be necessary or desirable to obtain and <br />implement a grant, including without limitation any agreements with PRHA confirming PRHA's <br />commitment of matching funds and PRHA's obligations to comply with the terms and conditions <br />of a grant, all as may be in the best interest ofthe City. <br />