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2073 -47 <br />AN ORDINANCE: (1) ACCEPTING FLOOD MITIGATION ASSISTANCE <br />GRANT FUNDING IN THE AMOUNT OF $225,000 FROM THE VIRGINIA <br />DEPARTMENT OF EMERGENCY MANAGEMENT AND APPROPRIATING <br />SAID AMOUNT IN THE FY 2023 GRANTS FUND; AND (2) TRANSFERRING <br />$75,000 FROM THE FY 2023 STORMWATER FUND BUDGET TO THE <br />DRAINAGE AND STREET IMPROVEMENTS CATEGORY OF THE FY 2023 <br />CAPITAL IMPROVEMENT FUND BUDGET AND THEN TO THE FY 2023 <br />GRANTS FUND BUDGET TO SERVE AS THE REQUIRED LOCAL MATCH. <br />BE IT ORDAINED by the Council of the City of Portsmouth, Virginia: <br />1. That it hereby accepts Flood Mitigation Assistance grant funding in the <br />amount of $225,000 from the Virginia Department of Emergency Management and <br />appropriates said amount in the FY 2023 Grants Fund. <br />2. That it transfers $75,000 from the FY 2023 Stormwater Fund Budget to the <br />Drainage and Street Improvements Category of the FY 2023 Capital Improvement Fund <br />Budget. <br />3. That it transfers $75,000 from the Drainage and Street Improvements <br />Category of the FY 2023 Capital Improvement Fund Budget to the FY 2023 Grants Fund <br />Budget. <br />4. That the funds shall be used for flood hazard mitigation efforts. <br />5. That a local match in the amount of $75,000 is required for the $225,000 in <br />VDEM funding, which match will be satisfied by the funds transferred from the <br />Stormwater Fund Budget as described above. <br />6. That estimated revenues and expenditures in the FY 2023 Grants Fund <br />Budget are increased by $300,000. <br />7. That the Transfers to CIP expenditure line item in the FY 2023 Stormwater <br />Fund Budget is increased by $75,000. <br />8. That estimated revenues and expenditures in the Drainage and Street <br />Improvements Category in the FY 2023 Capital Improvement Fund Budget are increased <br />by $75,000. <br />9. That this ordinance shall take effect on the date of its adoption. <br />ADOPTED by the Council of the City of Portsmouth, Virginia at a meeting held <br />on May 23, 2023. <br />Teste: <br />City Clerk <br />