Minutes 08/22/1995 - Laserfiche WebLink

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226 Au~ust~22, I995 95-39? - Letter from the Acting. City Man~ger recommending adoption of a resolution appr°v&~g a Policy on Publicly Funded Development Incentives and Intra-Regional Competition. "As you are aware, the Hampton Roads Mayors and Chairs Caucus is seeking approval of a "Proposed Policy on Publicly Funded Development Incentives and Intra-Regional Competition." The policy establishes broad ~uaidelines for regional economic development initiatives. You considered this item at a meeting last month, but I recommended that it be withdrawn pending possible ohanges to the document by other localities. According to the Executive Director of the Hampton Roads Planning District Commission, thirteen of the~fifteen localities in the region have adopted the policy as proposed. As was previously indicated to you, the policy has been reviewed by all the area's economic development directors, representatives from Forward Hampton Roads, the Virginia Peninsula Economic Development Council, and the two chairmen of the Governor's Regional Economic Development AdviSory Council. I believe that this policy sets reasonable controls on individual development incentives which are in the best interest of the Hampton Roads region. I recommend that you approve a resolution endorsing these guidelines." Motion by Mr. Hawks, and seconded by Mr. Robinett, adopt the following resolution, and was adopted by the following vote: to "A RESOLUTION ADOPTING A PUBLIC POLICY ON PUBLICLY-FUNDED DEVELOPMENT INCENTIVES AND INTRA-REGIONAL COMPETITION." WHEREAS, a regional policy on competition for economic development has been proposed to member localities of the Hampton Roads Planning District Commission; and WHEREAS, this policy recognizes that the various localities are involved in such competition, but at the same time share a mutual interest in managing the competition in ways that foster the region's growth without unfairly affecting the economic interests of each other; and WHEREAS, the policy suggests that incentives should be as limited as possible and sets forth guidelines as to how competition among member localities should be managed; and WHEREAS, this proposed policy was reviewed and revised by the region's economic development directors and received their endorsement; and WHEREAS, the Hampton Roads Mayors and Chairs Caucus has requested the governing body of each member locality to approve the proposed policy. NOW, THEREFORE, BE IT RESOLVED, by the Council of the City of Portsmouth, Virginia, that the Council hereby adopts the proposed policy, contingent upon its adoption by the governing bodies of the member localities of the Hampton Roads Planning District Cor~nission." Ayes: Clemons, Griffin, Hawks, Martin, Pitts, Robinett, Webh Nays: None 95-400 - Letter from the Acting City Manager recommending adoption of a motion authorizing the Acting City Manager to enter into an agreement with Portsmouth Partners of Virginia to redevelop the area currently known as River Edge Apartments into a single-family housing development.