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R -17 -26 A RESOLUTION AUTHORIZING THE CITY MANAGER TO EXECUTE A HAMPTON ROADS WATER QUALITY CREDIT AGREEtiIENT FOR CHESAPEAKE BAY RESTORATION BETWEEN THE CITY OF PORTSMOUTH AND THE HAMPTON ROADS SANITATION DISTRICT FOR THE PURPOSE OF ACQUIRING WATER QUALITY CREDITS. WHEREAS, as a condition of its municipal separate storm sever system (MS4) permit, the city of Portsmouth must comply with the Chesapeake Bay Total Maximum Daily Load (TMDL) limits, which require localities to reduce nutrient discharges into the Chesapeake Bay by 2025; and WHEREAS, one manner of satisfying Portsmouth's obligations under the MS4 permit and the TMDL is through the acquisition of approved water quality credits; and WHEREAS, the Hampton Roads Sanitation District (HRSD) is working to establish the Sustainable Water Initiative for Tomorrow (SWIFT), a water purification project in eastern Virginia that seeks to enhance the long -term sustainability of the groundwater supply; and WHEREAS, through SWIFT and other operational efficiencies. HRSD anticipates that its discharges to the Bay will be far below its TMDL limits; and WHEREAS, as a result HRSD anticipates having water quality credits available to convey to Hampton Roads localities; and WHEREAS, whereas HRSD has offered to convey available credits to localities at no charge; and WHEREAS, HRSD has prepared a standard form Hampton Roads Water Quality Credit Agreement for Chesapeake Bay Restoration; and WHEREAS, acquiring water quality, credits from HRSD will permit the city to place more focus on flooding issues in the near term and will provide the city with the time needed to develop and implement more efficient and effective water quality projects in the future; NOW THEREFORE BE IT RESOLVED by the Council of the City of Portsmouth, Virginia that the City Manager is hereby authorized to execute on behalf of the city a Hampton Roads Water Quality Credit Agreement for Chesapeake Bay Restoration between Portsmouth and HRSD in substantially the form attached as Exhibit A hereto. BE IT FURTHER RESOLVED that the City Manager is further authorized to execute such other instruments and provide such other assurances as may be required in furtherance of the purposes set forth in this resolution.