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493 <br /> September 22, 1992 <br /> <br /> This p~rticular program has been operational in th~ City for <br />a number of years and has~assisted~in providi,ng financing <br />opportunity for many of our residents who desire to realize <br />the American Dream of ho~eownership. As you are aware~ it is <br />becoming increasingly more difficult for first time homeowners to <br />purchase homes, and programs such as this one continue to provide <br />a financing ~echanism to assist those who could not otherwise take <br />the step from, renter. . to homeowner. This program will not require <br />any local contrlbutlons~ <br /> <br /> It is<r~quired tha% the City execute a Targete~ Areas <br />Allocation Agreement With the Virginia Housing Development <br />Authority inlorder for Portsmouth residents to be eligible for the <br />funds. ~Ther~fore, it is requested that you authorize me <br />by resolutioh, to enter~into an agreement with the <br /> Motionrf Mr. Hawks and seconded by Mr. King~, the following <br />resolution was adopted and by the following vote: <br /> Es ! <br /> "A R O UTIO AUTHORIZING THE CITY MANAGER TO SIGN AN <br />AGREEMENT WITH THE VIRGINIA HOUSING DEVELOPMENT AUTHORITY FOR THE <br />ALLOCATION O~ FIVE MILLION DOLLARS ($5,000;000.00) IN THE URBAN <br />PRESERVATION AND INFILL PROGRAM2 <br /> <br /> WHEREAS the Virginia Housing Development Authority has <br />allocated Fi~e Million Dollars ($5,000,000.00) in its Urban <br />Preservation~ and Infill Program to.the City of Portsmouth; and <br /> <br />~3 .~WHEREAS said funds are.to, be utilized by ~ocal lending <br />institutions for the financing~of< mortgage loans to qualified <br />families and individuals to purchase single family residences in <br />designated a~eas of th~ City of Portsmouth; and <br /> <br /> W~EREAS the Council of the City of Portsmouth deems it to be <br />in the best interest of the City and its citizens to provide such <br />financing ~ar~angements to enable qualified purchasers, to acquire <br />single fa~il~ residences. <br /> <br /> NOW, THEREFORE, BE IT RESOLVED by the Council of the City of <br />Portsmouth, ~irginia, that the Ci%y Manager be, and he hereby is, <br /> uthorlzed'to sign an agreement ~.Lth the Virginia Housing <br />Devel°pm~nt ~uthority for the all~ocation of Five Million Dollars <br />($5,000~,000,Q0) in the Urban Preservation and Infill P~ogram for <br />the year 1992-1993. <br /> <br />Ayes: Eppers( Griffin, Ha~ks, King, Pitts~ Webb <br /> Nays: None <br /> <br />92-328 - Letter from the City Manager recommending adoption of a <br />resolution a~thorizing the. Virginia Department of Transportation <br />to proceed with the projecc for imprOvements to C~urchiand <br />Boulevard in the City of Portsmouth, Virginia. <br /> <br /> "On, May 13, 1992,.~ the Virginia Department of ~Transportation <br />(VDOT) held a public hearing for the proposed improvements to <br />Churchland Bculevard from Towne Point Road to High Street West. <br /> h ' <br />As ~a result cf the public. ~ar~ng, VDOT recommended redesign of <br />the~ inter'section of Stamford Road and High Street West. to allow <br />for full traffic movement in -a~d out of Stamford Road as well as <br />the addition~of an entrance to Churchland Shopping center. <br />Attached is ~ summary letter on the State's public hearing. <br /> ! <br /> Also at~ached is a resolUtion that the State requests you <br />approve i~n o~der to proceed with this project.~ The Director of <br />Public W0rks~recommends that your adoption of the resolution be <br />conditional ~n the State's inclusion of full sidewalks on both <br />sides of thejproject for its e~ntire length. Throughou~ the design <br />process, VDO~ has only agreed to constructiion of sidewalks on one <br />side of the rloadway. <br /> <br /> <br />