Minutes 10/09/2007 - Laserfiche WebLink

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October 9. 2007 Next Steps Following Council Action: . The City Manager will sign the subject agreement. . After the agreement is fully executed the Engineering Department will initiate an agreement to build Freedom Ave. with the balance of funding from the Master Developer of Victory Village and select an engineering firm to design both projects. Motion by Mr. Moody, and seconded by Mr. D. Smith, to adopt the following resolution, and was adopted by the following vote: "RESOLUTION AUTHORIZING THE CITY MANAGER TO EXECUTE A PROJECT ADMINISTRATION AGREEMENT WITH THE VIRGINIA DEPARTMENT OF TRANSPORTATION FOR CONSTRUCTION AND DESIGN PROJECTS FOR FREEDOM AVENUE AND McLEAN STREET. WHEREAS, the Engineering Department submitted an application to the Virginia Department of Transportation (VDOT) to fund, with FY 2007-2008 Revenue Sharing Program funds, a portion of the construction cost of Freedom Ave., which will serve the TCC campus and the design cost for McLean Street improvements; and WHEREAS, in response to the submitted application the City received $1,000,000 in Revenue Sharing funds from VDOT, of which $900,000 is designated for Freedom Avenue and $100,000 for McLean Street; and WHEREAS, to receive the funds and to administer the projects for which the grant was received, the City of Portsmouth is required to sign a Project Administration Agreement with VDOT. 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 enter into a Project Administration Agreement with the Virginia Department of Transportation on behalf of the City to receive $1,000,000 in Revenue Sharing funds and to administer the contracts for the construction of the Freedom Avenue from Victory Boulevard to Greenwood Drive and to provide for design of improvements to McLean Street from Greenwood Drive to Airline Boulevard. BE IT FURTHER RESOLVED that the City Manager be, and he hereby is authorized to execute such additional documents and take such further actions as may be necessary to accomplish the purposes of this resolution." Ayes: Heretick, Moody, Psi mas, D. Smith, R. Smith, Randall Nays: None 07 - 440 - Adoption of a resolution authorizing the City Manager to take certain actions concerning the $2,000,000 financial assistance award to the City from the U.S. Department of Commerce Economic Development Administration for Victory Village, formerly Portsmouth Commerce Park. Vision Principles: A Robust and Prospering Economy. Background: . In September 1998, the City received a $2,000,000 grant by the United States Department of Commerce, Economic Development Administration to partially pay for infrastructure improvements at the planned Portsmouth Commerce Park, now Victory Village. . The purpose of obtaining the grant was to develop the property as an integral part of the community's plans for local economic development and community improvement. . The City transferred title to the Victory Village property to the Industrial Development Authority, now the Economic Development Authority (EDA) in 1999, but retained grant responsibilities.