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R-25-03 A RESOLUTION CERTIFYING THE CITY OF PORTSMOUTH'S SUPPORT OF AN APPLICATION FOR A VIRGINIA DEPARTMENT OF RAIL AND PUBLIC TRANSPORTATION INDUSTRIAL ACCESS RAILROAD TRACK FUND GRANT IN THE AMOUNT OF $750,000 IN FURTHERANCE OF THE DEVELOPMENT OF 1 HARPER AVENUE FOR PORT -RELATED USES. WHEREAS, The DeLong Co., Inc. has expressed its intent and desire to the City of Portsmouth to locate its commercial, business, or industrial operations in Portsmouth; and WHEREAS, The DeLong Co., Inc. and its operation will require rail access; and WHEREAS, the officials of The DeLong Co., Inc. have reported to the City of Portsmouth, their intent to apply for Industrial Access Railroad Track Funds from the Commonwealth of Virginia's Department of Rail and Public Transportation in the amount of $750,000; and WHEREAS, The DeLong Co., Inc. has requested that the Council of the City of Portsmouth, Virginia provide a Resolution supporting its application for said funds which are administered by the Virginia Department of Rail and Public Transportation; and WHEREAS, if the grant is awarded, The DeLong Co., Inc. will be required to expend not less than $1,457,403 of its own funds to serve as the required match; and WHEREAS, the Project would continue the revitalization of the maritime/industrial area surrounding the Portsmouth Marine Terminal and is anticipated to result in the creation of approximately 14 new full time jobs; and WHEREAS, the grant is funded solely by state dollars, and no City funds will be expended; NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Portsmouth, Virginia: 1. That it hereby endorses and supports the application of The DeLong Co., Inc. for $750,000 in Industrial Access Railroad Track Funds. 2. That it hereby makes known its desire and intent to support the Commonwealth Transportation Board's provision of the maximum financial assistance to The DeLong Co., Inc. for the purpose of locating its industrial facility in the City of Portsmouth. 3. That the City Manager is authorized to take such further actions and execute such further certifications as are necessary or desirable in furtherance of the application and the purposes of this resolution. 4. That this resolution shall take effect on the date of its adoption.