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1. The potential benefit and prospective revenues of the proposed casino gaming <br />establishment; <br />2. The total value of the proposed casino gaming establishment; <br />3. The proposed capital investment and the financial health of the proposer and <br />any proposed development partners; <br />4. The experience of the proposer and any development partners in the operation <br />of a casino gaming establishment; <br />5. Security plans for the proposed casino gaming establishment; <br />6. The economic development value of the proposed casino gaming establishment <br />and the potential for community reinvestment and redevelopment in an area in <br />need of such; <br />7. Availability of city -owned assets and privately owned assets, such as real <br />property, including where there is only one location practically available or land <br />under a potential operator and the city, incorporated in the proposal; <br />8. The best financial interest of the city; and <br />9. The proposer's status as a minority -owned business as defined in § 2.2 -1604 of <br />the Virginia Code or the proposer's commitment to solicit equity investment in the <br />proposed casino gaming establishment from one or more minority -owned <br />businesses and the proposer's commitment to solicit contracts with minority - <br />owned businesses for the purchase of goods and services; and <br />WHEREAS, based on the above factors, the MOU, the Development Agreement, and such <br />other factors as deemed appropriate, City Council has determined to accept and approve the <br />Proposal and to formally designate Developer as the preferred casino gaming operator for the <br />Portsmouth. <br />NOW THEREFORE BE IT RESOLVED by the Council of the City of Portsmouth, <br />Virginia that it hereby accepts and approves the Proposal; and <br />BE IT FURTHER RESOLVED that it confirms and designates Rush Street Gaming LLC <br />and Portsmouth Gaming Holdings, LLC as the City of Portsmouth's preferred casino gaming <br />operator within the meaning of Section 58.1 -4100, et seq. of the Act; and <br />BE IT FURTHER RESOLVED that the City Manager and her designees are authorized <br />and directed to submit this designation to the Virginia Lottery Department and to take such further <br />actions as are necessary or desirable in furtherance of the purpose of this Resolution. <br />ADOPTED by the Council of the City of Portsmouth, Virginia at a meeting held on May <br />26, 2020. <br />Teste: <br />City Clerk <br />