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3/ 6 <br /> <br />Januar2y__~=_3 1996 <br /> <br /> "As was discussed in your work session earlier this month, <br />Norfolk and Portsmouth have had a series of meetings regarding <br />the Pinners Point Connector with officials from the Virginia <br />Department of Transportation (VDOT), including Secretary of <br />Transportation Robert Martinez. The two cities have asked VDOT <br />to explore alternatives to using tolls to complete this <br />project. However, Secretary Martinez has informed Mayor Webb <br />and Mayor Fraim of Norfolk that competition for other sources <br />of funding is great. The Secretary has indicated that if <br />Norfolk and Portsmouth adopt resolutions supporting tolls, he <br />would immediately ask the Commonwealth Transportation Board to <br />take the action needed to move this pro]ect forward. <br /> There has also been discussion as to whether the amount of <br />the proposed toll should be 25¢ or 50¢. While 25¢ would <br />provide the necessary revenue to reimburse the Toll Facilities <br />Revolving Account, the Secretary has recommended that the two <br />cities may wish to opt for a 50¢ toll. This would allow the <br />revolving account to be repaid more quickly, and the cities <br />could then determine whether to terminate the tolls at that <br />time or continue them to support construction of a parallel <br />tube at the Midtown Tunnel. <br /> <br /> I concur with the Secretary's recommendation that the <br /> Pinners Point Connector be a toll facility and recommend that <br /> you adopt the resolution required by VDOT in order that this <br /> project may proceed." <br /> <br /> Motion by Mr. Pitts, and seconded by Mr. Robinett, to <br /> adopt the following resolution, and was adopted by the <br /> following vote: <br /> "A REsoLUTION SUPPORTING THE USE OF TOLLS FOR THE PINNERS <br /> POINT CONNECTOR. <br /> <br /> WHEREAS, the proposed Pinners Point Connector (the <br /> ..Connector") was introduced to the Regional Transportation Plan <br /> in 1965, and has been a high priority for a number of years; <br /> and <br /> <br /> WHEREAS, the Pinners Point Connector will provide a vital <br /> intermodal transportation connector a~ong the Western Freeway, <br /> the Midtown Tunnel and the Martin Luther King Freeway; and <br /> <br /> WHEREAS, the Connector is the number one priority of the <br /> Hampton Roads Metropolitan Planning Organization; and <br /> <br /> WHEREAS, the City of Portsmouth, in recognition of the <br /> regional significance to the local economy, is dedicating a <br /> portion of its urban allocations toward financing the <br /> Connector; and <br /> <br /> WHEREAS, the Virginia Department of Transportation, in <br /> cooperation with the City of Portsmouth, City of Norfolk and <br /> Hampton Roads MPO, have jointly identified a number of funding <br /> sources; and <br /> <br /> WHEREAS, the funding required to complete the financing of <br /> the Connector can be provided by the Commonwealth <br /> Transportation Board from the Toll Facilities Revolving <br /> Account; and <br /> <br /> WHEREAS, the Virginia Department of Transportation advises <br /> that the toll Facilities Revolving Account is the only <br /> predictable option to close the funding gap; and <br /> <br /> WHEREAS~ it is acknowledged that funds allocated from the <br /> Toll Facilities Revolving Account are advance funding provided <br /> for a toll facility which shall be reimbursed from toll <br /> revenues; and <br /> <br /> <br />