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September'26{ 1995 <br /> <br /> WHEREAS, this improvement makes necessary a reworking of <br />an existing drainage ditch'now owned by the Commonwealth, which <br />said ditch is on Lake Meade Watershed property belonging to the <br />City of Portsmouth; and <br /> <br /> WHEREAS, the Commonwealth of Virginia will have to <br />construct a BMP for stormwater as a result of the ditch <br />improvements, and therefore must have title to the area needed <br />for this BMP. <br /> <br /> NOW, THEREFORE, BE iT IS RESOLVED by the Council of the <br />City of Portsmouth, Virginia, that the City Manager be, and he <br />is hereby authorized to execute a deed from the City of <br />Portsmouth to the Commonwealth of Virginia for a parcel of land <br />of 0.347 acres of the Lake Meade Watershed in the City of <br />Suffolk, Virginia, under such terms and conditions as the City <br />Manager shall deem to be in the best interest of the City of <br />Portsmouth; said deed to provide that should the-Commonwealth <br />of Virginia decide at some time in the future that the area so <br />conveyed be no longer necessary to it, or shouldrthe <br />Commonwealth ever abandon its use, title to said p~operty shall <br />revert to the City of Portsmouth in fee simple absolute." <br /> <br />Ayes: Clemons, Griffin, Hawks, Martin, Pitts, Robinett, Webb <br />Nays: None <br /> <br />95-438 .- Letter from the Acting City Manager recommending <br />adoption of a resolution to support an application from the <br />City of Portsmouth to the Virginia Department of Housing and <br />Community Development for a second Enterprise Zone. <br /> <br /> "Earlier this year, the General Assembly authorized the <br />creation of fourteen (14) additional Enterprise ZOnes to be <br />awarded December 1, 1995 and effective January 1, 1996. The <br />legislature also authorized the Governor to designate an <br />additional seven (7) zones at a future point in time. <br /> <br /> Over fifty (50) communities are expected to apply for zone <br />designation. The Department of Economic Development and the <br />Planning Department are preparing an application for a new <br />Enterprise ZOne to encompass generally the MidtoWn, Tower Mall, <br />Fairwood, and Truxtun areas of the City. <br /> <br /> The City's current Zone has played a significant role in <br />developing Downtown and PortCentre Commerce Park, and still has <br />nine years remaining in its twenty year life {original zone <br />designation 1984). It is anticipated that the proposed new <br />zone will spur economic development activity in the Mid-City, <br />Tower Mall, Fairwood, and surrounding areas and be consistent <br />with the Vision 2005 Plan. <br /> <br /> I, therefore, recommend the required resolution be passed <br />to support this application for a new Enterprise Zone." <br /> <br /> Motion by Mr. Pitts, and seconded by Mr, Griffinl to adopt <br />the following resolution, and was adopted by the following <br />vote: <br /> <br /> "A RESOLUTION AUTHORIZING THE CITY MANAGER TO MAKE <br />APPLICATION FOR A SECOND ENTERPRISE ZONE DESIGNATION; <br />AUTHORIZING THE CITY MANAGER TO SUBMIT ALL INFORMATION <br />NECESSARY FOR SUCH APPLICATION AND TO ADMINISTER THE PROGRAM <br />AND REPORTING REQUIREMENTS UPON RECEIPTOF SUCH DESIGNATION. <br /> <br /> WHEREAS, the General Assembly of Virginia has adopted the <br />Enterprise Zone Act, Section 59.1-270 et seq. of the Code of <br />Virginia, for the purpose of stimulating business and <br />industrial growth and private sector investment, which would <br />result in neighborhood revitalization in areas of the <br />Commonwealth as may be designated by means of regulatory <br />flexibility and tax incentives; and <br /> <br /> <br />