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WHEREAS, the City of Portsmouth desires to modify and amend the Allocation Agreement so that HRT may help mitigate adverse financial impacts to it and the other Participating Cities from the date of this Resolution until June 30, 2021. NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF PORTSMOUTH, VIRGINIA FROM THE DATE OF THIS RESOLUTION UNTIL ,JUNE 30, 2021: 1. Beginning July 1, 2020 and continuing until June 30, 2021 ("Hold Harmless Period " ), which corresponds with HRT's fiscal year 2021. HRT is authorized to strategically allocate its available and eligible federal and state fundinv, to the City of Portsmouth in such a manner as to first offset the loss of recordation tax revenue to the City of Portsmouth as a result of VIrLTinla Code § 58.1-816. During the Hold Harmless Period, the City of Portsmouth "ill support I1RT as the transportation district in the Hampton Read, rc«ion to recei%c moneys front the Fund. The Fund shall. in accord.uice �t ith �rll applicahle statutes. he administered by the Hampton Read, Transportation Accountahillt� Conuiii,sion t IIRTAC J f()r the purpose of the de�clopment, maintenance, and imprmement of a core regional nemork of transit routes and related infrastructure, rolling stock. and support facilities with higli frequency hiss ser%ice in the Hampton Roads region. 2 During the Hold Harmless Period, the City agrees to modify the Allocation Agreement. Article IX. Allocation of'Rer�en«es, sections (D) and (E) shall be deleted and replaced as follows: Article IX. Allocation of Revenues I* .r *I D. Federal funds received to reimhurse net eligible operating expenses w ill he strategically allocated to each Participating City. Eligible federal funds. in combination with eligible state funds, will be allocated on an annual basis, in such combinations and amounts to be determined by the Commission. Subject to the requirements of Article X, and in the event eligible federal funds are available, such funds will be allocated to the Participating Cities to offset any deficiencies between the estimated Local Share in each Participating City TSP and the actual Local Share determined by the Commission at the end of each of the fiscal year. E. State funds received to reimburse net eligible operating expenses will be strategically allocated to each Participating City. Eligible state funds, in combination with eligible federal funds, will be allocated on an annual basis, in such combinations and amounts to be determined by the Commission. Subject to the requirements of Article X, and in the event eligible state funds are available, such funds will be allocated to the Participating Cities to offset any deficiencies between the estimated Local Share in each Participating City TSP and the actual Local Share determined by the Commission at the end of the fiscal war.