Minutes 05/26/1987 - Laserfiche WebLink

Home Browse Search

331 May 26, 1987 to the Council in the next several ~onths. I wish to inform the member'~ of'the Council that while the funding source for the enclosed projects is being reprogrammed, I will be addressing these priorities in conjunction with all city priorities in upcoming Capital Improvement Programs. I, therefore recommend the modification as indicated." On motion of Mrs. Lucas and seconded by Mr. Simpson, the fol- lowing resolution was adopted, and by the following vote: "A RESOLUTION REALLOCATING $690,336 FROM AUTHORIZED PROJECTS FUNDED THROUGH THE GENEPJtI REVENUE SHARING PROGRAM AND THE CAPITAL IMPROVEMENT PROGR~ AND ALLOCATING $2S0,000 IN INTEREST FROM FHE GENERAL REVENUE SHARING TRUST FUND FOR PORTCENTRE. WHEREAS, a public hearing was held to receive public comments on the five year Capital Improvement Plan and on the one year Capital Improvement Program, and on the Genera] Revenue Sharing Funds included therein; and this Council found the Capital Imorove merit Plan and the utilization of General Revenue Sharing Funds oro- posed thereat to be in proper form and expressive of Council oolici in regard to necessary capital improvements; and WHEREAS, the United States Congress has terminated the Gene~ Revenue Sharing Program to state and localities and the Treasury Department has issued regulations requiring the expeditious utili- zation of remaining funds; and WHEREAS, a public hearing has been held to receive public comments on the reallocation of General Revenue Sharing Funds; and B~EREAS, the Council has considered the Caoita] Improvement Plan and the Capital Improvement Program for 1986-87 and the utili- zation of General Revenue Sharing Funds and finds the reallocation of same for Phase II of PortCentre and the Streetscape Program at Bart and South Streets to be in proper form and expressive of council policies in regard to necessary capital improvements. NOW, THEREFORE, BE IT RESOLVED tha~ the Council of the City of Portsmouth, Virginia authorizes the reallocation of Six Hundred Ninety Thousand, Three Hundred Thirty-Six ($690,336) Dollars from authorized projects funded through the General Revenue Sharing Program and the Capital Improvement Program, subject to later appropriation in the ordinary course of business of the City. BE IT FURTHER RESOLVED that the Council of the City of Ports- mouth, Virginia allocates Two Hundred Fifty Thousand ($250,000) Dollars in interest earned from the Gneral Revenue Sharing Trust Fund for the Phase I% PortCentre Project subject to later appro- priation · n the ordinary course of business in the City." Ayes: Barnes, CorFreF, Gray, Lucas, Simpson, Webb, Nays: None 87-239 - L~tter from the City Manager recommending adoption an ordinance to appropriate $810,715 from the Capital Improvement Fund for Phase II of Public Improvements in the PortCentre project. "Upon adoption of the resolution by the City Council to re gram and allocate the General Revenue Sharing Funds, we are now in the position to proceed with the initial Phase II funding of Port- Cente. The GRS funds will be used primarily to add a change order to the existing contract with C. E. Maguire and to proceed with underground electrical ~mirk. The appropriation requested by the C~t~ E~gineer will fund the following activities: