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ORDINANCE NO. 2026-83 <br />AN ORDINANCE ACCEPTING PORT HOST COMMUNITIES <br />REVITALIZATION FUNDS IN THE AMOUNT OF $550,000 FROM THE <br />VIRGINIA DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT <br />AND APPROPRIATING SAID FUNDS IN THE FY 2027 GRANTS FUND FOR <br />DISTRIBUTION TO THE ECONOMIC DEVELOPMENT AUTHORITY OF THE <br />CITY OF PORTSMOUTH, VIRGINIA. <br />BE IT ORDAINED by the Council of the City of Portsmouth, Virginia: <br />1. That it accepts Port Host Community Revitalization Funds in the amount of <br />$550,000 from the Virginia Department of Housing and Community Development and <br />appropriates said funds in the FY 2027 Grants Fund. <br />2. That upon receipt the funds shall be disbursed to the Economic <br />Development Authority of the City of Portsmouth, Virginia. <br />3. That no local match is required from the City as a condition of the funding; <br />as the grant applicant, the Economic Development Authority will be responsible for <br />providing any required match. <br />4. That estimated revenues and expenditures in the FY 2027 Grants Fund are <br />increased by $550,000. <br />5. 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 August 25, 2026. <br />Teste: <br />City Clerk <br />