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December_~9 1997 <br /> <br />Financial Impact: <br /> <br />· There are expected to be slightly decreased acquisition costs when this <br /> power is exercised. The exact amount of those costs cannot be quantified. <br /> <br /> Motion by Mr. Pitts, and seconded by Mr. Robinett, to adopt the following <br />resolution, and was adopted by the following vote: <br /> <br /> "RESOLUTION TO AMEND THE CITY CHARTER TO PERMIT THE CITY TO <br />ACQUIRE AND HOLD REAL ESTATE FOR THE PURPOSE OF ECONOMIC <br />DEVELOPMENT. <br /> <br /> BE IT RESOLVED by the Council of the City of Ports_mouth, Virginia, that the <br />General Assembly of Virginia is requested to amend the Charter of the City of <br />Portsmouth to permit the City to acquire and hold real estate for the purpose of <br />economic development." <br /> <br />Ayes: Benn, Clemons, Griffin, Martin, Pitts, Robinett, Holley <br />Nays: None <br /> <br />97 - 328 - Adoption of a resolution in support of the James River application for <br /> designation as an American Heritage River. <br /> <br />Recommenda_tion: <br /> <br />· Adoption of a resolution in support of the James River application for <br /> designation as an American Heritage River. <br /> <br />~Need: <br /> <br />Designation through a competitive selection process as an American Heritage <br />river will provide jurisdictions within the James River's basin area access to <br />federal governmental resources and informati(~n needed for riverfront <br />revitalization. <br /> <br />· The title will provide federal resources to facilitate strong environmental <br /> efforts in and around the James River. <br /> <br />The viable partnership that exists between private and government <br />environmental organizations for a variety of James River-related projects <br />would be strengthened with the support of a federal "partner." <br /> <br />Financial Im_oact: <br /> <br />Designation as an American Heritage River would provide the James River <br />national exposure. Heightened tourism in and around the James River would <br />provide additional funding to the surrounding riverfront areas. Also, national <br />promotion will provide for widened exposure to financial federal assistance. <br /> <br />Any funding received will be allocated towards the revitalization of the James <br />River's shoreline area, preservation of its natural and historic resources, <br />programs to improve its water quality and new methods to highlight the <br />surrounding tourist attractions. <br /> <br />There is no local government financial commitment associated with this <br />application or with potential designation of the James River as an American <br />Heritage River. <br /> <br /> <br />