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August 11, 2015 <br /> <br />Financial Impact: <br /> <br /> No matching funds are required for this grant. <br /> <br />Staff Recommends: <br /> <br /> Adoption of proposed ordinance. Vision Principle: Lifelong Learning Community. <br /> <br />Next Steps Following Council Action: <br /> <br /> Pending approval, the Director of Museums and the Curator of the Portsmouth <br />Art and Cultural Center will ensure that the funds are utilized for the development, <br />installation and programming for the Outdoor Sculpture Competition and Exhibition. <br /> <br />Motion by Mr. Moody, and seconded by Mr. Meeks, to adopt the following <br />ordinance, and was adopted by the following vote: <br /> <br />“ORDINANCE ACCEPTING A GRANT IN THE AMOUNT OF $10,550 FROM THE <br />BUSINESS CONSORTIUM FOR ARTS SUPPORT AND APPROPRIATING SAID <br />AMOUNT IN THE FY 2015-16 GRANTS FUND FOR THE OUTDOOR SCULPTURE <br />COMPETITION AND EXHIBITION AT THE PORTSMOUTH ART AND CULTURAL <br />CENTER.” <br /> <br />Ayes: Cherry, Edmonds, Meeks, Moody, Psimas, Wright <br />Nays: None <br /> <br />15 - 291 - Adoption of an ordinance to appropriate $20,498 of funds received from <br />the Economic Development Authority of the City of Portsmouth, Virginia (EDA) in <br />the FY 2015-16 General Fund Operating Budget for the payment of six months of <br />rent for Economic Development Department office space. <br />Vision Principle: <br /> <br />Efficient, Responsive Government. <br /> <br />Background: <br /> <br /> The City’s Economic Development Department leases space at a monthly cost of <br /> <br />$3,416.22. <br /> <br /> <br /> These dollars were not budgeted in the City’s FY2015-2016 Operating Budget. <br /> <br /> In order to give the Department ample time to relocate to another location, the <br />Economic Development Authority has agreed to pay the leasing cost for a six month <br /> <br />period. <br /> <br />Discussion: <br /> <br /> Because the lease is in the City’s name and the EDA is a discretely presented <br /> <br />component unit, these funds will need to be transferred to the General Fund. <br /> <br />Financial Impact <br /> <br /> There is no negative financial impact incurred by the City of Portsmouth. <br /> <br />Staff Recommends: <br /> <br /> Adoption of an ordinance to accept and appropriate and authorize expenditure of <br />$20,498 in funds. Vision Principle: Efficient, Responsive Government. <br /> <br />Next Steps Following Council Action: <br /> <br /> <br /> Finance will complete the required transactions. <br /> <br />Motion by Ms. Psimas, and seconded by Mr. Moody, to adopt the following <br />ordinance, and was adopted by the following vote: <br /> <br />“ORDINANCE TO APPROPRIATE $20,498 OF FUNDS RECEIVED FROM THE <br />ECONOMIC DEVELOPMENT AUTHORITY OF THE CITY OF PORTSMOUTH, <br />VIRGINIA (EDA) IN THE FY 2015-16 GENERAL FUND OPERATING BUDGET FOR <br />THE PAYMENT OF SIX MONTHS OF RENT FOR ECONOMIC DEVELOPMENT <br />DEPARTMENT OFFICE SPACE.” <br /> <br />Ayes: Cherry, Edmonds, Meeks, Moody, Psimas, Wright <br />Nays: None <br /> <br /> <br /> <br /> <br />