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212 <br /> <br /> September 27, 1988 <br /> <br /> "The Planning Department requests a name change of a <br />portion of ~est~Norfolk Road to Gall Court. The affected <br />portion~ties.between West_Norfolk~Road ~ight-ofrway and the <br />Western Freeway~right-of-way.~ <br /> <br /> This approximately 2~0 foot long'road section was not <br />included_in~a~recent~renaming of West~ Norfolk Road and~the~West <br />Norfolk~by~pass ........... <br /> <br /> The Planning Commission (6-8 vote) and Planning Staff <br />recommend, that city, Council APPRO~E~the street renaming <br />request " <br /> <br /> Motion of Mr. Simpson and seconded by Mrs. Lucas, the <br />following ordinance.was adopted on first and final reading, and <br />by the ~ol~owin~ vote: <br /> <br /> "AN ORDINANCE CHANGING THE NAME OF A PORTION OF O~D WEST <br /> NORFOLK " <br /> ROAD <br /> <br /> Ayes: Barnes,.Corprew, Gray, Hawks, Lucas, Simpson <br /> <br /> 88-362 v~Letter~from the City Manager recommending <br />adoption of a resolution authorizing the Portsmouth <br />Redevelopment and Housing Authority and the Community Services <br />Board to jointl¥~pursue, financing from the Virginia Housing and <br />Development Autkor,i~ for the Virginia Housing and Development <br />authority for the acquisition and rehabilitation, of the. · <br />Community Services Board's Adult Home at 3721 Deep Creek <br /> <br /> "The Virginia Housing and Development Authority (VHDA) and <br />the State Department of Mental Health, Mental Retardation, and <br />Substance abuse Services (Department}.have.3ointly undertaken a <br />housin~ pro~ra~ for.pgrsons with mental~.disabilities... This <br />program is made possible through a $10 million allocation from~ <br />the Virginia Housing Fund. <br /> <br /> VHDA provides financing for the housing at b~iow market <br />rates, and funding for annual program and operating costs, <br />including debt service, is provided by the Department. All <br />financing under this program will have an initial maturity of <br />10 years, with..an~amortization schedule based upon a 3O year <br />maturity..After a significant amount of. loans have originated, <br />VHDA intends to refinance them through the_sale, of tax-exempt <br />bonds, at which time the maturity of the outstanding loans will <br />be extended.~t~ 30 years. If the. refinancing results~ in an <br />increase, in d~b.t servi~e, the Department will pr~ovide <br />additional funding to cover this additional cost. <br /> <br /> The Portsmouth Redevelopment and/'H~ing Auth0rii~y and the <br />Portsmouth Community Services board are jointly pursuing VHDA <br />financing_.~der this program to acquire' ~nd rehabilitate, the <br />Community Services Board's Adult Home at 3721 Deep Creek <br />Boulevard. PRHA will own the property and lease it to the CSB. <br /> <br />A Use Permit ~as~alreudy been approved for this propert-y.. The <br />Department has provided 100% of the operating costs, and the <br />Executive Pi-rector of the CSB has .agreed to include a payment <br />in lieu of taxes in the operating b~dget_ of the program. . <br /> <br /> <br />