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<br />R-11-29 <br /> <br />A RESOLUTION AUTHORIZING AND DIRECTING THE CITY MANAGER TO <br />EXECUTE AN ENTERPRISE ZONE LOCAL INCENTIVES GRANTS FUNDING <br />AGREEMENT BETWEEN THE CITY AND THE ECONOMIC DEVELOPMENT <br />AUTHORITY OF THE CITY OF PORTSMOUTH, VIRGINIA. <br /> <br />BE IT RESOLVED by the Council of the City of Portsmouth, Virginia: <br /> <br />1. That it hereby authorizes the City Manager to execute on behalf of the City <br />an Enterprise Zone Local Incentives Grants Funding Agreement by and between the City <br />of Portsmouth, Virginia and the Economic Development Authority of the City of <br />Portsmouth, Virginia in a form substantially similar to the draft Funding Agreement <br />attached hereto and made a part hereof. <br /> <br />2. That this resolution shall take effect on the date of its adoption. <br /> <br />ADOPTED by the Council of the City of Portsmouth, Virginia at a meeting held <br />on September 13,2011. <br /> <br />Teste: <br /> <br />City Clerk <br />