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Mav 27; 1997 <br /> <br />Financial Impact: <br /> <br />· There will be no cost to the City as a result of th s act on. All funds received will <br /> be used by the Partnership in furtherance of the regional plan. <br /> <br /> Motion by Mr. Martin, and seconded by Mr. Robinett, to adept the following <br />resolution, and was adopted by the following vote: <br /> <br /> "A RESOLUTION AUTHORIZING THE HAMPTON ROADS PARTNERSHIP <br />TO CARRY OUT THE PROVISIONS OF THE REGIONAL COMPETITIVENESS <br />PROGRAM (REP) AND APPROVING THE FUND DIS-ERIBUTION METHODOLOGY <br />PROPOSED BY THE HAMPTON ROADS PARTNERSHIP. <br /> <br /> WHEREAS, the 1996 Virginia General Assembly adopted the Regional <br />Competitiveness Act (the Act), Chapter 26.3 of Title 15.1 (Sections 15.1-1227.1 <br />through 15.1-1227~5) of the Code of Virginia, 1950, as amended, to encourage <br />counties, cities and towns to work together for their mutual benefit and that of the <br />Commonwealth of Virginia; and <br /> <br /> WHEREAS, to encourage regional strategic planning and cooperation, the Act <br />establishes an incentive fund administered by the Virginia Department of Housing <br />and Community Development (VDHCD) to be used to encourage and reward <br />regional strategic economic development planning and joint activities; and <br /> <br /> WHEREAS, the Act I~rovides a monetary incentive, totaling Six Million Dollars <br />($6,000,000) in 1997, for distribution among the State's regions for communities to <br />undertake new levels of regional activity to address obstacles to economic <br />competitiveness, by granting funds for five (5) years in accord with VDHCD <br />standards adopted pursuant to the RCP, with applications for the first round incentive <br />funds being due on July 1, 1997; and <br /> <br /> WHEREAS, incentive funds will be disbursed to eligible regions in an amount <br />equal to the percentage of the funds appropriated in incentive payments for a fiscal <br />year that represents the region's percentage of the total population of all eligible <br />regions; and <br /> <br /> WHEREAS, the Hampton Roads Partnership (the Partnership) is a Virginia <br />non-profit, non-stock corporation comprised of leading representatives from the <br />public, business, education, civic, and military communities and whose mission is to <br />enhance regional cooperation and improve economic competitiveness in the <br />Hampton ,Roads Region which is defined as the Cities of Norfolk, Virginia Beach, <br />Portsmouth, Chesapeake, Suffolk, Newport News, Hampton, Franklin, Poquoson <br />and Williamsburg and the Counties of Gloucester, Isle of Wight, James City, <br />Southampton and York; and <br /> <br /> WHEREAS, the Partnership has formally adopted the Hampton Roads <br />Region's Plan 2007 (the Plan) as its strategic plan and as such has.a clear strategic <br />road map for improving the economic competitiveness of the Hampton Roads <br />Region; and <br /> <br /> WHEREAS, a copy of the Plan 2007 Vision and Goal Statement is attached <br />hereto to be read as a part hereof; and <br /> <br /> WHEREAS, the Partnership in close cooperation with the'Hampton Roads <br />Planning District Commission will take responsibility for submitting the Hampton <br />Roads Region's application for incentive funding under the RCP and for seeing that <br />the Plan's joint activities are enacted; and <br /> <br /> <br />