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0 8 2 Au.qust 24, 2004 <br />Summary: <br /> <br /> · ARREFF Terminals, Inc. has indicated to the City its intent to apply for Industrial <br /> Access Railroad Track Funds from the Commonwealth of Virginia's Department of Raj <br /> and Public Transportation. A resolution of support from the local governing body <br /> required. There is no financial obligation or commitment from the City of Portsmouth <br /> this project. <br /> <br /> Purpose and Need: <br /> <br /> · Fornazor International recently acquired the Procter and Gamble property located at <br /> 3600 Elm Avenue. They have been operating ARREFF Terminals in Portsmouth since <br /> 1996. <br /> <br /> · Fornazor deals primarily with agricultural commodities and animal feed ingredients. <br /> <br /> · The Access Railroad Track Funds will be used to construct approximately 1800 feet <br /> of new rail track to serve the food-grade bagging system and operation being installed. <br /> <br /> Financial Impact: <br /> <br /> · Anticipated capital investments will be approximately $1,000,000 over the next year. <br /> <br /> · ARREFF Terminals, Inc. will create approximately 40 jobs with a large majority of <br /> those being hired from surrounding neighborhoods. <br /> <br /> · There is no financial obligation or commitment from the City of Portsmouth to this <br /> project. <br /> <br /> 1. Noel Smith, 1601 Marshall Avenue, spoke in support of this item. <br /> <br /> Motion by Mr. Moody, and seconded by Mr. Heretick, to adopt the following <br /> resolution, and was adopted by the following vote: <br /> <br /> "A RESOLUTION IN SUPPORT OF COMMONWEALTH OF VIRGINIA FUNDING I~ <br /> THE AMOUNT OF $325,000 FOR CONSTRUCTION OF RAILROAD TRACKS T( <br /> SERVE NEW INDUSTRIAL DEVELOPMENT AT 3600 ELM AVENUE. <br /> <br /> WHEREAS, Fornazor International, doing business as ARREFF Terminals, Inc. <br /> ("ARREFF") has operated ARREFF Terminals in the city of Portsmouth since 1966. <br /> <br /> WHEREAS, Fornazor International has recently acquired industrial property <br /> located at 3600 Elm Avenue for the purpose of operating a food-grade bagging system <br /> and operation for agricultural commodities and animal feed ingredients ("the <br /> Development"); and <br /> <br /> WHEREAS, the Development will require the construction of approximately 180¢ <br /> feet of new railroad track; and <br /> <br /> WHEREAS, the General Assembly provides for funding for certain improvements <br /> and procurement of railways in the Commonwealth of Virginia; and <br /> <br /> WHEREAS, ARREFF desires to file an application with the Virginia Departmenl <br /> of Rail and Public Transportation for Industrial Access Railroad Track Funds in the <br /> amount of $325,000 for funding assistance for the new track; and <br /> <br /> WHEREAS, the Development will involve a capital investment of approximately <br /> $1,000,000 over the next year and will create approximately 40 jobs for residents ol <br /> surrounding neighborhoods; and <br /> <br /> WHEREAS, the proposed new tracks are essential for successful operation o~ <br /> the Development; and <br /> <br /> <br />