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2019 Resolutions
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11/19/2019 3:50:34 PM
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EXHIBIT A <br />(Cooperation Agreement) <br />COOPERATION AGREEMENT <br />for <br />DEVELOPMENT OF AN EN'I'ERTAINIIEN I' DISTRICT TO <br />INCI,t'Df: CASINO GAMING <br />THIS (- OOPERA "LION .AGREE%IEN'I' (the "('ooperation Agreement ") is entered into as <br />of the day of Noxcmhcr. 2019, by and hcmeen the C[TY OF PORN'SVIOt "TH. <br />VIRGINI, -V a political ,uhdivision of the Conunon%�calth of Virginia (the "Cite"). and <br />ECONOMIC DEVF,L.OPYIENT A ` FfIORITY" OF THE CITY OF PORTSMOt 'TH. <br />VIRGINIA. a political suhd1%ision of the Conunon"ealth of Virginia (the <br />WHEREIAS. EDA owns certain property consisting of approximatcly 50 acres located in <br />the Victory Crossing area of the Cit% vpith direct interstate acct„ and hi1 lma� � i,ihility (the <br />and <br />WHEREAS. by Resolution adopted by ED,-\ on Jule 16. 2019 and Revolution R -19 -25 <br />adopted by City Council on July ? 2019, EDA and the City expressed the Joint desire to <br />de�clop an entertainment district on the Site to include casino (Yaming: and <br />WIIEREAS. ED,-'k has now entered into, or intend, to enter into, a Nlentorandu111 of <br />E-ndcrslanding vp ith Rush Street Gamin_ LL.0 regarding the use of the Site for dc%clopmcnt <br />of an entertainment district to include casino gaining (the "),IOI' "): <br />NOW' THEREFORE F1' IS AGREED by the partie, to cooperate as follo%ks: <br />1. The Cite and FDA agree to cooperate in attempting to cause development of the <br />Site as an entertainment district to include casino gaming as ti)llo%k,: <br />a. The City ,hall prov ide such support as is reasonahl_� required for ED. -\ to <br />comply w ith the terms and conditions of the M01': and <br />h. The Citti agree, to comply with all prow ',ions of the 'VIOL: binding= upon <br />EDA. including expressly and without limitation the exclusivity provi sion. <br />2. Nothing herein shall be construed as a waiver of City Council's legislative <br />discretion regarding zoning and permitting applications. <br />3. "Chic Cooperation ,\greement may he executed in counterpart;. <br />
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