Laserfiche WebLink
June 25, 1996 <br /> <br /> - CITY MANAGER'S REPORT <br /> <br />96-218 Letter from the City Manager recommending adoption <br />of an ordinance to appropriate $1.75 million from the Capital <br />Improvements Fund for infrastructure cost of the Lake Shores <br />development (formerly River Edge). <br /> <br /> "Construction of the Lake Shores development, at the <br />existing site of River Edge Apartments, will commence once <br />the apartments have been demolished and the site cleared. <br />This new development will consist of approximately 150 <br />single-family homes. The redevelopment of this currently <br />blighted area of the City will increase the real estate <br />assessment of the property from $500,000 to $17 million upon <br />completion of the project. This increased assessment will <br />result in increased real estate taxes paid to the City by <br />approximately $200,000 annually. <br /> <br /> As required by the development agreement, the City will <br />pay $1.75 million of the infrastructure (streets, curbs, <br />gutters, etc.) for the development. The $1.75 million needs <br />to be appropriated in the Capital Improvements Fund so that <br />funds are available once construction begins. The funding <br />source will be provided from the developer's fee ($412,500) <br />and the increase in real estate taxes to be generated from <br />the construction of the new complex. <br /> <br /> I, therefore, recommend approval of the appropriation of <br />$1.75 million in the Capital Improvements Fund." <br /> <br /> Motion by Mr. Pitts, and seconded by Mr. Martin, to <br />adopt the following ordinance, and was adopted by the <br />following vote: <br /> <br /> "ORDINANCE TO APPROPRIATE $1,750,000 FROM THE CAPITAL <br />IMPROVEMENTS FUND FOR INFRASTRUCTURE COST FOR THE LAKE SHORES <br />DEVELOPMENT." <br /> <br />Ayes: Clemons, Griffin, Hawks, Martin, Pitts, Robinett <br />Nays: None <br /> <br />96-219 - Letter from the City Manager recommending adoption <br />of an ordinance to appropriate $180,000 for the Department of <br />Social Services, Virginia Public Assistance Fund. <br /> <br /> "During the fiscal year ending June 30, 1996, the <br />Portsmouth Department of Social Services has engaged in <br />actions which will result in substantially increased <br />reimbursement from the Commonwealth of Virginia. A portion <br />of this increased reimbursement resulted from supplemental <br />requests submitted to the State by Social Service's staff. <br />Additional reimbursement has also been obtained from higher <br />than projected expenditure levels in programs such as Aid to <br />Families With Dependent Children and Subsidized Adoption. <br /> <br /> An additional appropriation of $180,000 is requested for <br />the Department of Social Services, Virginia Public Assistance <br />Fund, for the fiscal year ending June 30~ 1996. No <br />additional local match is required for this appropriation. <br /> <br /> I hereby recommend the approval of an additional <br />$180,000 appropriation for the Department of Social <br />Services." <br /> <br /> Motion by Mr. Griffin, and seconded by Mr. Pitts, <br />adopt the following ordinance, and was adopted by the <br />following vote: <br /> <br />to <br /> <br /> "ORDINANCE TO APPROPRIATE $180,000 FROM THE FUNDS TO BE <br />RECEIVED FROM THE VIRGINIA DEPARTMENT OF SOCIAL SERVICES FOR <br />MANDATED PROGRAMS." <br /> <br />Ayes: Clemons, Griffin, Hawks, Martin, Pitts, Robinett <br />Nays: None <br /> <br /> <br />