Minutes 09/08/2009 - Laserfiche WebLink

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September 8. 2009 Ayes: Heretick, Psi mas, Randall, Smith, Whitehurst, Holley Nays: None 09 - 463 - Adoption of a resolution adopting a Local Business and Employment Plan for the City of Portsmouth's Neighborhood Stabilization Program Project. Vision Principle: Thriving Neighborhoods and a Sense of Community. Background: . The Virginia Department of Housing and Community Development (DHCD) awarded the City $2,000,000 of NSP funds to purchase and rehabilitate residential properties that have been foreclosed upon. The units will then be sold to income- eligible households. . DHCD requires that the City adopt a Local Business and Employment Plan. A copy of the draft Plan is attached. Discussion: . The Local Business and Employment Plan establishes the policy that in carrying out the NSP project the City will use to the greatest extent feasible, businesses and lower income residents of the Project Area in carrying out activities. . The Local Business and Employment Plan describes how the City will make businesses and lower income residents aware of the opportunities. Financial Impact: . Adoption and implementation of the Local Business and Employment Plan does incur any costs by the City. Staff Recommends: . Adopt the Program Income Plan for the NSP project. Vision Principle: Thriving Neighborhoods and a Sense of Community. Next Steps Following Council Action: . Submit the Local Business and Employment Plant to DHCD. Motion by Mr. Whitehurst, and seconded by Ms. Randall, to adopt the following resolution, and was adopted by the following vote: "RESOLUTION ADOPTING A LOCAL BUSINESS AND EMPLOYMENT PLAN FOR THE CITY OF PORTSMOUTH'S NEIGHBORHOOD STABILIZATION PROGRAM PROJECT. WHEREAS, the Virginia Department of Housing and Community Development (DHCD) awarded the City $2,000,000 in federal Neighborhood Stabilization Program funds to purchase and rehabilitate residential properties that have been foreclosed upon and to resell them to income-eligible parties; and WHEREAS, DHCD requires that the City adopt a Local Business and Employment Plan ("Plan"); and WHEREAS, the City Council has reviewed the proposed Plan, a copy of which is attached hereto and identified as Exhibit A. NOW THEREFORE BE IT RESOLVED by the Council of the City of Portsmouth, Virginia that it approves and adopts said proposed Local Business and Employment Plan and directs the City Manager or his designee to send a copy of this resolution to the Virginia Department of Housing and Community Development along with such other documents and assurances as may be required and are in the best interests of the City of Portsmouth." Ayes: Heretick, Psi mas, Randall, Smith, Whitehurst, Holley Nays: None