2024 Resolutions - Laserfiche WebLink

Home Browse Search

R-24-09 A RESOLUTION TO AMEND THE COST ALLOCATION AGREEMENT BETWEEN THE CITIES OF CHESAPEAKE, HAMPTON, NEWPORT NEWS, NORFOLK, PORTSMOUTH, AND VIRGINIA BEACH, AND THE TRANSPORTATION DISTRICT COMMISSION OF HAMPTON ROADS. WHEREAS, the Cities of Chesapeake, Hampton, Newport News, Norfolk, Portsmouth and Virginia Beach (collectively, the "Participating Cites") and the Transportation District Commission of Hampton Roads ("HRT") are parties to the Cost Allocation Agreement, effectively dated October 1, 1999 ("Allocation Agreement"); and WHEREAS, the Allocation Agreement, among its other provisions, defines how state and federal funding received by HRT is allocated to the Participating Cities for the capital and operating costs associated with acquiring, consolidating, rehabilitating, operating and expanding public transportation facilities and services for the Hampton Roads region; and WHEREAS, the Allocation Agreement currently requires HRT to distribute its eligible federal and state funding to each of the Participating Cities on a pro rata basis based on the annual cost to provide transit services at the level requested by each Participating City; and WHEREAS, HRT may provide greater budgetary certainty to all Participating Cities through strategic allocation of its eligible state and federal funding; and WHEREAS, the current Allocation Agreement does not permit HRT to strategically allocate its state and federal funding amongst the Participating Cities; and WHEREAS, the Allocation Agreement may be amended, via a resolution from each Participating City, to permit HRT to strategically allocate its eligible state and federal funding; and WHEREAS, the City of Portsmouth desires to temporarily 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, 2025; and WHEREAS, HRT and other Participating Cities have represented that Article IX, Allocation of Revenues, sections (D) and (E) are not deleted permanently but suspended between July 1, 2024 and June 30, 2025 and Portsmouth has relied upon this representation; and WHEREAS, Portsmouth's approval of this amendment is conditioned upon Article IX, Allocation of Revenues, sections (D) and (E) being suspended and returning to effect on July 1, 2025; NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Portsmouth, Virginia that: 1. Beginning July 1, 2024 and continuing until June 30, 2025 ("Effective Period"), which corresponds with HRT fiscal year 2025, HRT is authorized to strategically allocate its available and eligible federal and state funding, to the City of Portsmouth.