Minutes 06/22/2004 - Laserfiche WebLink

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June 22,2004 Purpose and Need: · This $500,000 grant from the Governor's office is an incentive to APM Terminals to locate their private shipping terminal in the State of Virginia. Financial Impact: · This grant will be matched by approximately $1,000,000 of infrastructure improvements funded by the City of Portsmouth. All of these improvements are directly related to the APM Terminals project. Motion by Mr. Pitts, and seconded by Ms. Randall, to adopt the following resolution, and was adopted by the following vote: 04-250(A): "A RESOLUTION AUTHORIZING THE CITY MANAGER TO EXECUTE A PERFORMANCE AGREEMENT WITH APM TERMINALS AS REQUIRED FOR EXPENDITURE OF A $500,000 GOVERNOR'S OPPORTUNITY FUND GRANT FOR THE APM TERMINALS PROJECT IN CHURCHLAND. WHEREAS, the City of Portsmouth has received a Governor's Opportunity Fund grant in the amount of $500,000 to be used as an incentive for the development of the APM Terminals (APM) project on the Cox Property in Churchland; and WHEREAS, as a condition of the grant and prior to payment of any monies to APM, the City must enter into a Performance Agreement with APM, establishing certain job creation goals and levels of financial investment by APM; and WHEREAS, if APM fails to meet the established goals, all or part of the grant monies will be required to be returned to the Commonwealth of Virginia by APM. NOW THEREFORE BE IT RESOLVED by the Council of the City of Portsmouth, Virginia that the City Manager be, and he hereby is, authorized to execute a Performance Agreement with APM Terminals and such other documents, permits, and agreements, as may be necessary to fulfill the Governor's Opportunity Fund grant requirements and as are in the best interest of the City of Portsmouth. BE IT FURTHER RESOLVED that this resolution shall take effect on the date of its adoption." Ayes: Benn, Griffin, Moody, Pitts, Randall, Holley Nays: None Motion by Mr. Pitts, and seconded by Mr. Griffin, to adopt the following ordinance, and was adopted by the following vote: 04-250(B): "ORDINANCE ACCEPTING A GOVERNOR'S OPPORTUNITY FUND GRANT AND APPROPRIATING $500,000 IN THE GRANTS FUND FOR THE MAERSK/APM TERMINALS SITE DEVELOPMENT." Ayes: Benn, Griffin, Moody, Pitts, Randall, Holley Nays: None 04- 251 - Adoption of an ordinance to accept a grant from the Department of Criminal Justice Services in the amount of $471,095 and to appropriate the same amount in the Grants fund for the Community Corrections and Pretrial Services Programs.