|
R -23 -21
<br />A RESOLUTION TO AMEND THE COST ALLOCATION AGREEMENT BETWEEN
<br />THE CITIES OF CHESAPEAKE, HAMPTON, NEWPORT NEWS, NORFOLK,
<br />PORTSMOUTH, AND VIRGINIA BEACH, AND THE TRANSPORTATION DISTRICT
<br />COMMISSION OF HAMPTON ROADS.
<br />WHEREAS, the Cities of Chesapeake, Hampton, Newport News, Norfolk, Portsmouth
<br />and Virginia Beach (collectively, the "Participating Cites ") and the Transportation District
<br />Commission of Hampton Roads ( "HRT ") are parties to the Cost Allocation Agreement, effectively
<br />dated October 1, 1999 ( "Allocation Agreement "); and
<br />WHEREAS, the Allocation Agreement, among its other provisions, defines how state and
<br />federal funding received by HRT is allocated to the Participating Cities for the capital and
<br />operating costs associated with acquit-ing, consolidating, rehabilitating, operating and expanding
<br />public transportation facilities and services for the Hampton Roads region; and
<br />WHEREAS, the Allocation Agreement currently requires HRT to distribute its eligible
<br />federal and state funding to each of the Participating Cities on a pro rata basis based on the annual
<br />cost to provide transit services at the level requested by each Participating City; and
<br />WHEREAS, HRT may provide greater budgetary certainty to all Participating Cities
<br />through strategic allocation of its eligible state and federal funding; and
<br />WHEREAS, the current Allocation Agreement does not permit HRT to strategically
<br />allocate its state and federal funding amongst the Participating Cities; and
<br />WHEREAS, the Allocation Agreement may be amended, via a resolution from each
<br />Participating City, to permit HRT to strategically allocate its eligible state and federal funding; and
<br />WHEREAS, the City of Portsmouth desires to temporarily modify and amend the
<br />Allocation Agreement so that HRT may help mitigate adverse financial impacts to it and the other
<br />Participating Cities from the date of this Resolution until June 30, 2024; and
<br />WHEREAS, HRT and other Participating Cities have represented that Article IX,
<br />Allocation of Revenues, sections (D) and (E) are not deleted permanently but suspended between
<br />July 1, 2023 and June 30, 2024 and Portsmouth has relied upon this representation; and
<br />WHEREAS, Portsmouth's approval of this amendment is conditioned upon Article IX,
<br />Allocation of Revenues, sections (D) and (E) being suspended one year and returning to effect on
<br />July 1, 2024;
<br />NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Portsmouth,
<br />Virginia that:
<br />1. Beginning July 1, 2023 and continuing until June 30, 2024 ( "Effective Period "),
<br />which corresponds with HRT fiscal year 2024, HRT is authorized to strategically allocate its
<br />available and eligible federal and state funding, to the City of Portsmouth.
<br />2. During the Effective Period, the City agrees to modify the Allocation Agreement.
<br />Article IX, Allocation of Revenues, sections (D) and (E) shall be deleted and replaced as follows:
<br />
|