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January 25, 2022 <br /> <br />“RESOLUTION CONCERNING ENTRY INTO A SOUTHSIDE NETWORK AUTHORITY <br />PROJECT PARTICIPATION AGREEMENT AND ACQUISITION OF SHARES IN THE <br />REGIONAL FIBER CONNECTIVITY RING PROJECT. <br /> <br /> WHEREAS, <br />the City of Portsmouth is a member jurisdiction of the Southside <br />Network Authority (the “Authority”), together with the Cities of Chesapeake, Norfolk, <br />Suffolk and Virginia Beach (collectively, the “Member Localities”); and <br /> <br />WHEREAS, <br /> the Board of Directors of the Authority (the “Board”) has requested <br />that the City enter into a Project Participation Agreement (the “Project Participation <br />Agreement”) in order to finance and manage the construction of a 119-mile regional fiber <br />connectivity ring (the “Project”); and <br /> <br />WHEREAS, <br /> there has been presented to this meeting a draft of the Project <br />Participation Agreement, as well as other background information of the Project; and <br /> <br />WHEREAS, <br /> the City desires to proceed with the Project and enter into the Project <br />Participation Agreement, under substantially the terms set forth in the draft, concurrently <br />with the other Member Localities and the Authority; <br /> <br />NOW THEREFORE BE IT RESOLVED <br /> by the Council of the City of Portsmouth, <br />Virginia that: <br /> <br /> 1. It approves the Project Participation Agreement, and authorizes the City <br />Manager to execute the Project Participation Agreement in substantially the form attached <br />hereto as Exhibit A, with such final corrections and amendments as may be necessary <br />and proper, such necessity and propriety being conclusively evidenced by signature of <br />the Project Participation Agreement; <br /> <br /> 2. The City Manager, in her capacity as a Director of the Board (or, in the event <br />of her absence or inability to participate, the designated Alternate to the Board) may <br />purchase on behalf of the City up to 20 shares in the Project at a price of $250,000 per <br />share, as provided in the Project Participation Agreement; <br /> <br /> 3. The City Manager is authorized to take such further actions and execute <br />such further instruments as are consistent with the purpose of this Resolution. <br /> <br /> 4. This Resolution shall take effect upon adoption.” <br /> <br />Ayes: Battle, Lucas-Burke, Moody, Woodard, Glover <br />Nays: Barnes, Whitaker <br /> <br /> <br />Vice Mayor Barnes informed citizens of the Swearing in Ceremony for Assistant Police <br /> <br />Chief’s Na’Shayla Nelson and Stephen Jenkins. <br /> <br /> <br />Vice Mayor Barnes asked for the status on the Charles Peete baseball fields and <br /> <br />the Cavalier Manor concession stands. <br /> <br />-City Manager Jones provided an update on the Cavalier Manor concession stands <br />and will provide a report back on the Charles Pete baseball fields. <br /> <br /> Vice Mayor Barnes asked for a report from Police Chief Prince regarding the crime <br /> <br />in the city at an upcoming Public Work Session. <br /> <br />-City Manager Jones informed City Council a report would be provided. <br /> <br /> Mr. Battle informed citizens and City Council of the additional investments regarding <br /> <br />the casino by minority investors. <br /> <br />-City Manager Jones will provide a report back to City Council regarding this <br />information. <br /> <br /> Dr. Whitaker asked for an update on the one-time payments to citizens using ARPA <br /> <br />funds. <br /> <br />-City Manager Jones provided an update. <br /> <br /> <br /> <br /> <br />