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September 28, 2021 <br /> <br />Background: <br /> <br /> Three years ago, the Virginia General Assembly created the Port Host <br />Communities Revitalization Fund. <br /> <br /> Under the terms of the Fund, the five Port Host Communities (Portsmouth, Front <br />Royal, Newport News, Norfolk and Richmond) are able to apply for grants from an annual <br />pool of $1,500,000. <br /> <br /> The grant money is to be used for the redevelopment of port-related properties to <br /> <br />further economic development and employment growth. <br /> <br /> Every year, the Economic Development Department solicits private entities to <br />submit projects for consideration for Port Host Communities funding, and the Portsmouth <br />Port and Industrial Commission selects which project should be submitted to DHCD for <br /> <br />possible grant funding. <br /> <br /> Last year, the Department and PPIC partnered with Thomas Industrial, LLC and <br /> <br />received an award of $500,000 for the redevelopment of the former BASF site. <br /> <br />Discussion: <br /> <br /> On September 7, 2021 PPIC adopted a resolution selecting a project submitted by <br />JSSY, LLC (DBA International Flooring & Protective Coatings, Inc.) to apply for this year’s <br />round of Port Host Communities funding. <br /> <br /> The project involves the performance of waterfront bulkhead replacement at 3301 <br />Shipwright Street to prepare the site for redevelopment. This would continue the <br />revitalization of the West Norfolk industrial community. <br /> <br /> The application will seek a grant of $1,000,000 from DHCD. It is anticipated that <br />JSSY, LLC will expend $1,200,000 of its own funds to serve as the required match for the <br />grant and that the project will ultimately result in 150 new jobs. <br /> <br /> Neither PPIC nor the City will have any liability for the project or obligation to <br />commit any local funding to the project. <br /> <br /> The Resolution proposed for City Council consideration affirms Council’s support <br />for the project and is required in order for the Port Host Communities application to be <br />submitted. <br /> <br />Financial Impact: <br /> <br /> If the application is successful, the project would be funded entirely by the <br />Commonwealth of Virginia and private funding. No City or PPIC funds are required to be <br />expended as a match for the Port Host Communities grant. <br /> <br />Recommended Action: <br /> <br /> Adoption of the Resolution. <br /> <br />Next Steps Following Council Action: <br /> <br /> <br /> The Resolution will be included in the Port Host Communities application package. <br /> <br />Motion by Mr. Moody, and seconded by Ms. Lucas-Burke, to adopt the following <br />resolution, and was adopted by the following vote: <br /> <br />“RESOLUTION CERTIFYING THE CITY OF PORTSMOUTH’S SUPPORT OF AN <br />APPLICATION FOR A VIRGINIA DEPARTMENT OF HOUSING AND COMMUNITY <br />DEVELOPMENT PORT HOST COMMUNITIES GRANT IN THE AMOUNT OF <br />$1,000,000 IN FURTHERANCE OF THE DEVELOPMENT OF 3301 SHIPWRIGHT <br />STREET FOR PORT-RELATED USES. <br /> <br /> WHEREAS, <br />the Port Host Communities Revitalization Fund was established by <br />the Commonwealth to provide grants of state funds for port-related revitalization projects <br />in five localities that are especially impacted by Port of Virginia operations: Portsmouth, <br />Front Royal, Newport News, Norfolk and Richmond; and <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br />