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December 13, 2005 <br /> <br />? <br />Human Impact: <br /> The citizens of Portsmouth will continue to share in the benefits <br />of a reduced personal property tax rate on the first $20,000 of value for qualifying <br />vehicles. <br /> <br />Staff Recommends: <br />Adoption of an ordinance to amend Chapter 35 of the City Code, by adopting a new <br />Section 35-7.1 that establishes procedures for personal property tax relief for qualifying <br />motor vehicles in accordance with the state Personal Property Tax Relief Act of 1998, <br />as amended. Vision Principle: A Robust and Prospering Economy. <br /> <br />Next Steps: <br />? <br /> The CFO will use the procedures adopted in estimating revenues for budget <br />purposes. <br />? <br /> The City Treasurer will observe the collection procedures required by the <br />ordinance. <br /> <br />Motion by Mr. Moody, and seconded by Ms. Randall, to adopt the following <br />ordinance, and was adopted by the following vote: <br /> <br />“ORDINANCE TO AMEND CHAPTER 35 OF THE CODE OF THE CITY OF <br />PORTSMOUTH, VIRGINIA (1988) BY ADOPTING A NEW SECTION 35-7.1 <br />PERTAINING TO PERSONAL PROPERTY TAX RELIEF FOR QUALIFYING MOTOR <br />VEHICLES.” <br /> <br />Ayes: Heretick, Moody, Psimas, Randall, Smith, Whitehurst, Holley <br />Nays: None <br /> <br />05 - 578 - Adoption of a resolution approving the City/State agreement for the <br />construction of improvements to Victory Boulevard as a State funded urban project. <br />Vision Principles: Neighborhood and Community Transformation and Lifelong Learning <br />Community. <br /> <br />Background: <br /> <br />? <br /> Portsmouth’s Victory Blvd. improvements project was adopted in the Virginia <br />Department of Transportations’ (VDOT) Six-year Improvement Plan. <br />? <br /> The scope of the project includes but is not limited to the replacement of curbing, <br />pavement and drainage, the enclosing of the open ditches in the median, addition of <br />turn lanes to serve the commerce park, the under grounding of utilities and landscaping. <br /> <br />Discussion: <br />? <br /> Bids for the project were received on October 13, 2005. Costs are as identified <br />in the attached City/State Agreement. <br />? <br /> All of the Right of Way has been purchased by VDOT in the City’s name. <br />? <br /> Completion of the project is scheduled for December 2006. <br />? <br /> The Commonwealth Transportation Board (CTB) scheduled the project for <br />approval on December 15, 2005. <br />? <br />Financial Impact: <br /> As an urban project, the City of Portsmouth’s share of costs <br />would be 2 percent for Right of Way and construction costs. Portsmouth will be <br />responsible for 50 percent of the cost of placing the utilities underground. <br /> <br />Staff Recommends: <br />Adoption of a resolution approving the City/State agreement for the construction of <br />improvements to Victory Boulevard as a State funded urban project. Vision Principles: <br />Neighborhood and Community Transformation and Lifelong Learning Community. <br /> <br />Next Steps Following Council Action: <br />? <br /> Approval by the CTB of VDOT on December 15, 2005 <br />? <br /> Award of the construction project to W. R. Hall of Norfolk, VA <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br />