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March 26, 2019 <br /> <br />Discussion: <br /> <br /> <br /> VDOT administers several access road programs. <br /> <br /> The former BASF in West Norfolk is a prime industrial development site identified <br /> <br />by our Economic Development Department. <br /> <br /> This project will include the construction of employee and truck access roads to <br />the former BASF site in addition to the reconstruction of West Norfolk Road from VA 164 <br /> <br />to Shipwright Road. <br /> <br /> These access roads will make this site more marketable and also help revitalize <br /> <br />the industrial area to the south of West Norfolk Road. <br /> <br /> The Portsmouth Port and Industrial Commission has provided a resolution of <br /> <br />support to accompany the application. <br /> <br /> The resolution proposed for Council consideration is required to submit an <br /> <br />application. <br /> <br /> Under the terms of the grant, VDOT can recapture some or all of the grant funds if <br />matching investments (including private investments) in an amount equal to five times the <br />amount of the grant are not made within a certain period of time after award. The City <br /> <br />would be required to post a surety bond to secure the recapture right. <br /> <br />Financial Impact: <br /> <br /> <br /> The estimated project cost is $1,930,000. <br /> <br /> The maximum state allocation within the fiscal year is $500,000 unmatched. An <br /> <br />additional $150,000 in state funds may be allocated with matching local funds. <br /> <br /> <br /> The City of Portsmouth will be requesting $650,000. <br /> <br /> <br /> The City team may apply for additional funds through other grant programs. <br /> <br />Recommended Action: <br /> <br /> <br /> Adoption of the Resolution. <br /> <br /> <br />Next Steps Following Council Action: <br /> <br /> <br /> Submit resolution to VDOT. <br /> <br />Motion by Mr. Moody, and seconded by Ms. Psimas, to adopt the following <br />resolution, and was adopted by the following vote: <br /> <br />“RESOLUTION AUTHORIZING AND SUPPORTING SUBMISSION OF AN <br />APPLICATION FOR PARTICIPATION IN THE VIRGINIA DEPARTMENT OF <br />TRANSPORTATION ECONOMIC DEVELOPMENT ACCESS PROGRAM. <br /> <br /> WHEREAS, <br />the City of Portsmouth, Virginia desires to assist in the development <br />of property for the purpose of economic development located off of West Norfolk Road in <br />the City of Portsmouth, Virginia, within the West Norfolk industrial area; and <br /> <br />WHEREAS, <br /> the property is expected to be the site of new private capital <br />investment in land, building, and manufacturing equipment which will provide substantial <br />employment; and <br /> <br />WHEREAS, <br /> the property assisted includes Tax Parcels 07010260, 07000010, <br />07020300, 07010470 and 07190020, and may include Tax Parcel 07190010; and <br /> <br />WHEREAS, <br /> the subject property, or portions thereof, has no site access to a public <br />street or highway and will require the construction of a new roadway to connect with West <br />Norfolk Road; and <br /> <br />WHEREAS, <br /> the existing public road network does not provide for adequate <br />industrial access to the property, or portions thereof, and it is deemed necessary that <br />improvements be made to West Norfolk Road; and <br /> <br />WHEREAS, <br /> the City of Portsmouth hereby guarantees that the necessary <br />environmental analysis, mitigation, fee simple right of way and utility relocations or <br />adjustments, if necessary, for this project will be provided at no cost to the Economic <br />Development, Airport and Rail Access Fund; and <br /> <br /> <br /> <br /> <br />