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September 24, 2024 <br /> <br /> <br /> The grant money is to be used for the revitalization and redevelopment of port- <br /> <br />related properties to further economic development and employment growth. <br /> <br /> Every year, the Economic Development Department solicits entities to submit <br />projects for consideration for Port Host Community funding, and the Portsmouth Port and <br />Industrial Commission selects which project should be submitted to DHCD for possible <br /> <br />grant funding. <br /> <br />Discussion: <br /> <br /> On August 27, 2024 the PPIC adopted a resolution selecting a project submitted <br />by the Norfolk & Portsmouth Belt Line Railroad to apply for this year’s round (FY2025) of <br />Port Host Community funding. <br /> <br /> The project involves the development of a dual rail served, multi-commodity rail <br />transload facility at 1040 Virginia Ave. to provide rail to container transloading. <br />Improvements include earthworks, paving, fencing, lighting, rail construction and other <br />related development expenses.This would continue the revitalization of the Portsmouth <br /> <br />Marine Terminal industrial area. <br /> <br /> The application will seek a grant of $1,000,000 from DHCD. The Norfolk & <br />Portsmouth Belt Line Railroad will expend at least $1,500,000 of its own funds to serve <br />as the required match for the grant and the project will ultimately result in increased <br />business operations and approximately 15 new employee positions. The project will also <br />improve the aesthetics of the area. <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 Community Revitalization Fund <br />application to be 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 /> <br />expended as a match for the Port Host Community Revitalization Fund grant. <br /> <br />Recommended Action: <br /> <br /> Adoption of a Resolution by City Council affirming support for the project and <br />execution of Local Certification of the City of Portsmouth’s application to the Port Host <br />Community Revitalization Fund program. <br /> <br />Next Steps Following Council Action: <br /> <br /> <br /> Submission of FY25 Port Host Community Revitalization Fund grant application <br /> <br />to the Virginia Department of Housing and Community Development. <br /> <br />Motion by Mr. Hugel, and seconded by Ms. Lucas-Burke, to adopt the following <br />ordinance, 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 REVITALIZATION FUND GRANT IN <br />THE AMOUNT OF $1,000,000 IN FURTHERANCE OF THE REVITALIZATION OF 1040 <br />VIRGINIA AVENUE 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 />WHEREAS, <br /> the grants are funded annually from a pool of $2,400,000; and <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br />