Minutes 03/23/1999 - Laserfiche WebLink

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March 23, ';i~99 A. ADDITIONS 1. County Street to County Street. 2. Third Street to Portcentre Parkway. 3. Henry Street to Nelson Street. 4. Jefferson Street to Portsmouth Boulevard. B. DELETIONS 1. Cravvford Street to dead end. 2. Third Street to dead end. 3. Harrison Street to Portsmouth Boulevard 4. South Street to cul-de-sac. 5. Jamestown Avenue to Yorktown Avenue 6. Aidine Boulevard to dead end. These additions and deletions are more particularly described on Exhibit A, attached hereto, Which is hereby incorporated by reference." Ayes: Benn, Griffin, Moody, Pitts, Robinett, Whitehurst, Holley Nays: None 99-71 -Adoption of a resolution to endorse and support the applicat on of ARREFF Terminals, Inc. for $150,000 in Industrial Access Railroad Track Funds to assist in refurbishing rail access to the recently acquired Boyce property on Frederick Boulevard. Recommendation: Adoption of a resolution to endorse and support the application of ARREFF Terminals, Inc. for $150,000 in Industrial Access Railroad Track Funds. Purpose and Need: Fornazor Internationa, Inc. acquired the Boyce property on Frederick Boulevard. They have been operating ARREFF Terminals in Portsmouth since 1996. Their volume has grown dramatically over the last two years, and it was through this connection that Fornazor has decided to locate in Portsmouth. Fornazor deals primarily with agricultural commodities and animal feed ingredients. The Railroad Track Funds will assist ARREFF Terminals, Inc. in refurbishing the rail access to the recently acquired property on Frederick Boulevard. Financial Impact: Anticipated capital investments will be approximately $850,000 over the next year. ARREFF Terminals, Inc. will create between 35 to 50 jobs with a majority of those being hired from surrounding neighborhoods. Motion by Mr. Pitts, and seconded by Mr. Whitehurst, to adopt the following resolution, and was adoPted by the following vote: