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R -18 -16 A RESOLUTION AUTHORIZING AND SUPPORTING SUBMISSION OF AN APPLICATION FOR PARTICIPATION IN THE VIRGINIA DEPARTMENT OF TRANSPORTATION ECONOMIC DEVELOPMENT ACCESS PROGRAM. WHEREAS, the City of Portsmouth, Virginia desires to assist in the development of property for the purpose of economic development located off of West Norfolk Road in the City of Portsmouth, Virginia, within the West Norfolk industrial area; and WHEREAS, the property is expected to be the site of new private capital investment in land, building, and manufacturing equipment which will provide substantial employment; and WHEREAS, the property assisted includes Tax Parcels 07010260, 07000010, 07020300, 07010470 and 07190020, and may include Tax Parcel 07190010; and WHEREAS, the subject property, or portions thereof, has no site access to a public street or highway and will require the construction of a new roadway to connect with West Norfolk Road; and WHEREAS, the existing public road network does not provide for adequate industrial access to the property, or portions thereof, and it is deemed necessary that improvements be made to West Norfolk Road; and WHEREAS, the City of Portsmouth hereby guarantees that the necessary environmental analysis, mitigation, fee simple right of way and utility relocations or adjustments, if necessary, for this project will be provided at no cost to the Economic Development, Airport and Rail Access Fund; and WHEREAS, the City of Portsmouth acknowledges that no land disturbance activities may occur within the limits of the proposed access project prior to appropriate notification from the Department of Transportation; and WHEREAS, the City of Portsmouth hereby guarantees that all ineligible project costs and all costs not justified by eligible capital outlay will be provided from sources other than those administered by the Virginia Department of Transportation; NOW THEREFORE BE IT RESOLVED by the Council of the City of Portsmouth, Virginia: 1. That the City Council hereby requests that the Commonwealth Transportation Board provide Economic Development Access Program funding to provide adequate roads to the referenced property; 2. That the City Council hereby agrees to provide a surety or bond, acceptable to and payable to the Virginia Department of Transportation, in the full amount of the Commonwealth Transportation Board's allocation less eligible capital outlay credit as determined by VDOT, or as otherwise required by the Commonwealth Transportation Board's program guidelines; and