Minutes 01/13/2009 - Laserfiche WebLink

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January 13. 2009 09 - 25 - Adoption of a resolution approving the exercise by the Economic Development Authority of the City of Portsmouth, Virginia of powers conferred by the Industrial Development and Revenue Bond Act, in conjunction with the issuance for Victory Conference Center, LLC, a Virginia Limited Liability Company, of not to exceed $11,400,000 of the authority's tax exempt revenue bonds to finance a portion of (1) the cost of a 50,000 square foot conference center including a 16,000 sq. ft. (expandable to 23,000 sq. ft.) grand ball room, (2) a Debt Service Reserve Fund, (3) Capitalized Interest, and (4) the costs of issuing such bonds, and designating $8,400,000 of such bonds as new Empowerment Zone Facility Bonds for purposes of section 1394(F)(2)(A) of the Internal Revenue Code of 1986, as amended. Vision Principle: A Robust and Prospering Economy. Motion by Ms. Psi mas, and seconded by Mr. Moody, to defer consideration of Item 09-25 to the January 27, 2009 City Council Meeting at the request of the applicant's Bond Counsel, and was adopted by the following vote: Ayes: Heretick, Moody, Psi mas, Smith, Holley Nays: None Abstain: Randall, Whitehurst (Per the advisement of the Commonwealth Attorney) - New Business - 09 - 26 - Boards and Commissions There were no appointments. 09 - 27 - Items Submitted by Council Members '" Ms. Psi mas wanted to acknowledge a job well done by Public Utility workers with regards to work that was being done to a city street. 09 - 28 - Report on Pending Items There were no pending items. 09 - 29 - Non-Agenda Speakers 1. Mae Breckenbridge-Haywood, 3704 Greenwood Drive, read a message from Christina Carlton regarding the Fisher Hill Cemetery. 2. Theresa Danaher, 413 Dinwiddie Street, voiced her concern with the Victory Crossing Hotel and Conference Center lawsuit against the City of Portsmouth. 3. Kathleen Carlson, 116 Chowan Drive, spoke on the importance of safety for children and senior citizens in the City. 4. Ron Evans, 14 Chippewa Trail, voiced his concern with the rising fees associated with the Southeastern Public Service Authority (SPSA). 5. R. M. Holley, 711 Crawford Street, voiced his concern with the rising fees associated with the Southeastern Public Service Authority (SPSA). 6. Lisa Lucas-Burke, 1541 Rotunda Avenue, voiced her concern with what she believes is a conflict of interest by one of the City Council members with regards to voting on the Victory Crossing Hotel and Conference Center Project. 7. Dr. Denise Key, 505 Normandy Street, spoke on hotel's impacting the local and regional communities throughout Hampton Roads as well as the Mid-Atlantic.