Minutes 01/09/1996 - Laserfiche WebLink

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January 9, 1996 "One the key efforts of the Vision 2005 Plan is the construction of an inlet and new ferry docking facility on the site of Riverfront Park at the foot of High Street. The primary incentive for the timing of this project is the availability of Federal funding for approximately 50% of the project cost. This facility will be constructed through a contract with the Tidewater Transportation District Commission (TTDC), with the City funding the portion of the project not paid for with Federal funds. Bids were received by TTDC on November 16, 1995 and are summarized on Attachment No. 1. Attachment No. 2 summarizes project costs, available funding and identifies Portsmouth's share of the total project. In order for TTDC to proceed with award of the project, it is necessary for the City to appropriate the required balance of funding in the amount of $1,793,227 and to approve the attached agreement between the City of Portsmouth and TTDC for payment of project costs. A briefing on the funding options for the City's portion of the High Street Inlet will be presented in detail at your Public Work Session on Monday, January 8, 1996. The Director of Public Works recommends appropriation of $1,793,227 and approval to enter into the agreement with TTDC. I concur with the Director of Public Works and recommend your approval of this item." Dutch Andrews, 131 Jamestown Avenue, spoke ~n opposition to reappropriation of funds from the Scott's Creek dredging. Nancy LaMartin, 212 Chesapeake Avenue, spoke an opposition to reappropriation of funds from the Scott's Creek dredging. Motion by Mr. Robinett, and seconded by Mr. Griffin, to adopt the following ordinance, and was adopted by the following vote: "AN ORDINANCE TO APPROPRIATE $1,793,227.00 FROM THE CAPITAL IMPROVEMENTS FUND FOR CONSTRUCTION OF THE NEW FERRY DOCKING FACILITY AT RiVERFRONT PARK." Ayes: Clemons, Griffin, Hawks, Martin, Pitts, Robinett, Webb Nays: None Motion by Mr. Robinett, and seconded by Mr. Hawks, to approve entering into an agreement with TTDC for construction of the new ferry docking facility, and was adopted by the following vote: Ayes: Clemons, Griffin, Hawks, Martin, Pitts, Robinett, Webb Nays: None 96-11 - Letter from the City Manager recommending adoption of a resolution approving the execution and delivery by the Portsmouth Redevelopment and Housing Authority (PRHA) of a Modification Agreement with respect to the 1980 Office and Commercial Facilities Revenue Bond in the amount of $875,000. "Under the current financing structure, the New Kirn Building is owned by the Portsmouth Redevelopment and Housing Authority (PR~A), leased to Historic Towne Square Company; and subleased to the Authority. Payments under the lease and sublease secure payment of the Authority's Bond.