Title
Resolution to Approve the Acceptance of a Grant from the Virginia Port Authority's Commonwealth Port Fund of up to $50,000.00 for Construction of Bulkhead, Wharf and Walkway on the Downtown Waterfront
Purpose
PURPOSE/BACKGROUND:
In 2017 the City of Hampton applied for grant monies of up to $50,000.00 from Virginia Port Authority's (the "Port Authority") Commonwealth Port Fund for certain Downtown waterfront repairs, maintenance, and improvements, in the area of the intersection of King Street and Rudd Lane. The Port Authority approved, authorized and awarded to the City $50,000.00, to be drawn by June 30, 2018. Through the efforts of Steven Lynch, Interim Director of Economic Development, the Port Authority has carried over this award, most recently by resolution dated May 9, 2023, with the date to draw down funds now extended to June 30, 2024. The Port Authority also authorized the City to use those funds for the construction of the new bulkhead, wharf, and walkway, also in the area of King Street and Rudd Lane. Public Works has recently awarded a contract for the work to be (partially) funded by this grant award; so it is anticipated those awarded funds will be utilized without the need for further extension.
Discussion:
See Purpose/Background above.
Impact:
See Purpose/Background above.
Recommendation:
Rec
Approve the Resolution.
Body
WHEREAS, in September 1986, the Virginia General Assembly established the Commonwealth Port Fund in order to support port capital needs of all ocean, river or tributary ports with the Commonwealth;
WHEREAS, the Board of Commissioners of the Virginia Port Authority (the "Port Authority") found it necessary and in the public interest, pursuant to its statutory responsibility, to establish a policy governing disbursement of a portion of the Commonwealth Port Fund to local governmental entities in order to foster and stimulate the flow of commerce through the...
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