Minutes 11/24/1998 - Laserfiche WebLink

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November 24, 1998 Motion by Mr. Whitehurst, and seconded by Mr. Moody, to allow Mr. Andrews two additional minutes to speak, and was adopted by unanimous vote. Dutch Andrews, 131 Jamestown Avenue, expressed his dissatisfaction that the Virginia Department of Transportation hasn't planned any major projects in the Scott's Creek watershed area~ 3. Jimmy Clements, 2000 Leckie Street, spoke concerning the environmental condition of Scott's Creek. 4. Nancy LaMartin, 212 Chesap'eake Avenue, spoke concerning the condition of Scott's Creek as it relates to storm drainage. Motion by Mr. Pitts, and seconded by Mr. Moody, to adopt the following resolution, and was adopted by the following vote: "RESOLUTION REQUESTING THE VIRGINIA DEPARTMENT OF TRANSPORTATION TO CONSTRUCT THE PINNERS POINT INTERCHANGE iN THE CITY OF PORTSMOUTH, VIRGINIA USING THE CITY'S URBAN ALLOCATION TO PROVIDE TOLL REVENUE TO REPAY TRAVEL FACILITIES REVOLVING ACCOUNT LOAN. WHEREAS, the Pinners Point Interchange consists of approximately 1.5 miles connecting the Western Freeway, the Martin Luther King Freeway, and the Midtown Tunnel and is designated as Project No. 0164-124-F01, PE-101, RW-201, C-501; and ' WHEREAS, the Pinners Point Interchange has long been the number one highway transportation priority of the City of Portsmouth; and WHEREAS, after all identified regional and statewide funding has been allocated to this project, a funding shortfall estimated at $55 million exists, and this funding shortfall can be filled through the use of an interest-free loan from the State's Toll Facilities Revolving Account; and WHEREAS, the only identified method to repay the Toll Facilities Revolving Account in accordance with 33.1-23.03:4, Code of Virginia has been through the imposition of tolls; and WHEREAS, the Council of the City of Portsmouth, Virginia, desires to construct the Pinners Point Interchange without the necessity to construct toll facilities and individual tolls on its citizens and others who use the facility; and WHEREAS, the City of Portsmouth annually receives approximately $6.6 million in Urban Allocation funds from the Commonwealth Transportation Board to be used for eligible highway construction projects within the city; and WHEREAS, the city has proposed to use of a portion of its Urban Allocation to pay the tolls for the users of the Pinners Point Interchange. NOW, THEREFORE, BE IT RESOLVED, that the Council of the City of Portsmouth, Virginia hereby pledges the use of $4.6 million annually from its Urban Allocation funds, such use beginning in Fiscal Year 2005 and continuing until the interest-free loan from the Toll Facilities Revolving Account has been repaid.