Minutes 08/27/2013 - Laserfiche WebLink

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August 27, 2013 "RESOLUTION COMMITTING $77,381 IN FUNDS APPROPRIATED IN THE FY 2013- 14 CAPITAL IMPROVEMENTS FUND AS MATCHING FUNDS FORA $77,381 GRANT IN REVENUE SHARING FUNDS FROM THE VIRGINIA DEPARTMENT OF TRANSPORTATION TOWARDS REHABILITATION OF THE CHURCHLAND BRIDGE (SOUTHBOUND LANES). BE IT RESOLVED by the Council of the City of Portsmouth, Virginia that it hereby commits the sum of $77,381, previously appropriated in the FY 2013-14 Capital Improvements Fund for bridge maintenance activities, as matching funds fora $77,381 grant in revenue sharing funds from the Virginia Department of Transportation towards the rehabilitation of the Churchland Bridge (Southbound Lanes)." Ayes: Cherry, Edmonds, Meeks, Moody, Psimas, Randall, Wright Nays: None 13 - 358 -Adoption of a resolution committing $780,000 in funds appropriated in the FY2013-2014 Capital Improvements Fund as matching funds fora $720,000 grant in Revenue Sharing funds from the Virginia Department of Transportation towards the extension of Elliot Avenue. Vision Principle: A Robust Economy for Working Men and Women. Background: • The extension of Elliot Avenue is part of the Victory Village Apartments project. • The VDOT Revenue Sharing Program provides an opportunity for localities to provide local funds to match state funds for priority projects. Discussion: • Previous infrastructure projects within Victory Village have been supported using Revenue Sharing funds. • The extension of Elliot Avenue provides a key roadway connection within the Portsmouth Tidewater Community College Campus. • The City of Portsmouth submitted a Revenue Sharing application for this project in October 2012. • VDOT approved the City's application as part of its FY2013-2014 budget process. • The City must enter into an agreement with the developer to satisfy VDOT requirements for spending these funds. Financial Impact • The estimate for this project is approximately $1,500,000. • VDOT is providing $720,000 in Revenue Sharing funds. The balance of $780,000 is available in the City CIP. • The developer is proffering funds for the balance. Recommended Action: • Adoption of the resolution. Vision Principle: A Robust Economy for Working Men and Women. Next Steps Following Council Action: • Execute agreement with VDOT. Execute agreement with developer. Motion by Ms. Randall, and seconded by Mr. Meeks, to adopt the following resolution, and was adopted by the following vote: "RESOLUTION COMMITTING $780,000 IN FUNDS APPROPRIATED IN THE FY2013-2014 CAPITAL IMPROVEMENTS FUND AS MATCHING FUNDS FOR A $720,000 GRANT IN REVENUE SHARING FUNDS FROM THE VIRGINIA DEPARTMENT OF TRANSPORTATION TOWARDS THE EXTENSION OF ELLIOT AVENUE.