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April 23, 2019
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<br /> 2. The City Manager and/or her designees are authorized to execute all
<br />agreements and/or addendums for any approved projects with the Virginia Department
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<br />of Transportation.”
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<br />Ayes: Clark, Glover, Lucas-Burke, Moody, Rowe
<br />Nays: Battle
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<br />19 - 167 - Adoption of a resolution approving a Master Agreement for Regional
<br />Economic Development with the Hampton Roads Economic Development Alliance
<br />and the other localities of Hampton Roads.
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<br />Background:
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<br /> The Hampton Roads Economic Development Alliance is a regionally focused, non-
<br />profit, public-private economic development partnership dedicated to achieving a more
<br />diverse, growing and prosperous economy for the entire Hampton Roads region. It does
<br />so primarily by marketing the region worldwide and collaborating with its public and
<br />private partners to attract, grow and retain higher wage industries, talent and jobs.
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<br />The Alliance has historically represented the Hampton Roads localities of
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<br />Chesapeake, Franklin, Hampton, Isle of Wight, Newport News, Norfolk, Poquoson,
<br />Portsmouth
<br />, Suffolk, Southampton, and Virginia Beach as the point of contact for
<br />economic development in the region.
<br />
<br />
<br /> The localities pay $1 (one dollar) per capita to fund the Alliance. Therefore, the
<br />City of Portsmouth’s current contribution is $94,572 annually. This amount has
<br />traditionally been paid through appropriations to the Department of Economic
<br />Development’s annual budget.
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<br />Discussion:
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<br />The Alliance has presented the City of Portsmouth with a Master Agreement for
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<br />Regional Economic Development between the Alliance and the Hampton Roads localities
<br />of Chesapeake, Franklin, Hampton, Isle of Wight, Newport News, Norfolk, Poquoson,
<br />Portsmouth
<br />, Suffolk, Southampton, and Virginia Beach.
<br />
<br />
<br /> The Agreement seeks to formally define the Alliance’s role as the Hampton Roads
<br />region’s official regional economic development organization. It is also intended to provide
<br />a framework for a comprehensive economic development program under which the
<br />participating parties will work in partnership to stimulate the growth of businesses, high
<br />paying jobs, tax base, the regional economy and economic opportunity for the citizens,
<br />businesses, cities and counties in the region. The Agreement further establishes the
<br />responsibilities, obligations and performance metrics for the participating parties as they
<br />work together to improve the region’s competitive position within state, national and
<br />international markets. The initial term of the Agreement commences on July 1, 2019 and
<br />expires on June 30, 2022 with the option to renew for a one (1) year period thereafter.
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<br /> This Agreement must be formally endorsed by the various localities’ City Councils
<br />or Boards of Supervisors.
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<br />Financial Impact:
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<br /> Approximately $94,572 annually.
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<br />Recommended Action:
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<br /> Adoption of the resolution.
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<br />Next Steps Following Council Action:
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<br /> The Agreement will be executed and delivered on behalf of the City.
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<br />1. Mark Geduldig-Yatrofsky, P. O. Box 50141, spoke in support of this item.
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<br />Motion by Mr. Clark, and seconded by Mr. Moody, to adopt the following resolution,
<br />and was adopted by the following vote:
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<br />“RESOLUTION APPROVING A MASTER AGREEMENT FOR REGIONAL ECONOMIC
<br />DEVELOPMENT WITH THE HAMPTON ROADS ECONOMIC DEVELOPMENT
<br />ALLIANCE AND THE OTHER LOCALITIES OF HAMPTON ROADS.
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