Minutes 03/14/2023 - Laserfiche WebLink

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March 14, 2023 1. That it hereby FINDS that the industrial, commercial or other economic development of the Innovation Overlay District area will benefit the city, but such area lacks the housing needed to induce manufacturing, industrial, commercial, governmental, educational, entertainment, community development, healthcare or nonprofit enterprises or undertakings to locate or remain in such area. 2. That it hereby FINDS that private enterprise and investment are not reasonably expected, without assistance, to produce the construction or rehabilitation of decent, safe and sanitary housing and supporting facilities that will meet the needs of low and moderate income persons and families in the Innovation Overlay District area and will induce other persons and families to live within such area and thereby create a desirable economic mix of residents in such area. 3. That it declares the Innovation Overlay District to be a Revitalization Area within the meaning of Section 36-55.30:2 of the Virginia Code. 4. That the sole purpose of declaring the Innovation Overlay District to be a Revitalization Area is to empower the Virginia Housing Development Authority to provide financing in accordance with Chapter 36 of the Virginia Code. 5. That this Resolution shall take effect on the date of its adoption.” Ayes: Hugel, Lucas-Burke, Moody, Tillage, Whitaker, Glover Nays: None 23-89B: Motion by Mr. Tillage, and seconded by Ms. Lucas-Burke, to adopt the following resolution, and was adopted by the following vote: “RESOLUTION AFFIRMING THAT THE BAINS POINTE DEVELOPMENT IS LOCATED IN A REVITALIZATION AREA WITHIN THE MEANING OF SECTION 36- 55.30:2.A OF THE CODE OF VIRGINIA. WHEREAS, by Resolution R-23-08 adopted on February 14, 2023 City Council granted a Use Permit for the construction of a fifty-unit affordable housing development to be known as Bains Pointe and located in the 1100 Block (North) of High Street (the “Development”); and WHEREAS, the Development is located within the Innovation Overlay District Revitalization Area; NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Portsmouth, Virginia: 1. That the Development is located in a Revitalization Area in the City of Portsmouth, Virginia; that the industrial, commercial or other economic development of such area will benefit the City, but such area lacks the housing needed to induce manufacturing, industrial, commercial, governmental, educational, entertainment, community development, healthcare or nonprofit enterprises or undertakings to locate or remain in such area; and that private enterprise and investment are not reasonably expected, without assistance, to produce the construction or rehabilitation of decent, safe and sanitary housing and supporting facilities that will meet the needs of low and moderate income persons and families in such area and will induce other persons and families to live within such area and thereby create a desirable economic mix of residents in such area. 2. That this Resolution does not constitute a commitment of funding by the City to the Development. 3. That this Resolution shall take effect on the date of its adoption.”