Laserfiche WebLink
August 11, 2015 <br /> <br />Financial Impact <br /> <br /> The total project cost is $35.5 million. The estimate for the construction phase is <br />approximately $31,000,000. The balance to construction is approximately $3 million. <br /> <br /> The City of Portsmouth has received $20,450,000 from the State for this project. <br /> <br /> The City’s matching share for this Revenue Sharing award is $5,000,000. <br />Funding was approved in the Capital Improvements Program in the recent budget. <br /> <br />Recommended Action: <br /> <br /> Adoption of the resolution. Vision Principles: Neighborhoods and a Sense of <br />Community, and a Robust Economy for Working Men and Women. <br /> <br />Next Steps Following Council Action: <br /> <br /> Sign and forward appendices to VDOT. <br /> <br />Motion by Dr. Edmonds, and seconded by Mr. Meeks, to adopt the following <br />resolution, and was adopted by the following vote: <br /> <br />“RESOLUTION COMMITTING $5,000,000 IN FUNDS APPROPRIATED IN THE FY <br />2015-16 CAPITAL IMPROVEMENT FUND AS MATCHING FUNDS FOR A $5,000,000 <br />GRANT IN REVENUE SHARING FUNDS FROM THE VIRGINIA DEPARTMENT OF <br />TRANSPORTATION TOWARDS CONSTRUCTION OF THE REPLACEMENT FOR <br />THE CHURCHLAND BRIDGE (NORTHBOUND LANES). <br /> <br /> BE IT RESOLVED <br />by the Council of the City of Portsmouth, Virginia that it <br />hereby commits the sum of $5,000,000, previously appropriated in the FY 2015-16 <br />Capital Improvement Fund for bridge maintenance activities, as matching funds for a <br />$5,000,000 grant in revenue sharing funds from the Virginia Department of <br />Transportation towards construction of the replacement for the Churchland Bridge <br /> <br />(Northbound Lanes).” <br /> <br />Ayes: Cherry, Edmonds, Meeks, Moody, Psimas, Wright <br />Nays: None <br /> <br />15 - 295 - Adoption of a resolution committing $250,000 in funds appropriated in <br />the FY 2015-16 Capital Improvement Fund as matching funds for a $250,000 grant <br />in revenue sharing funds from the Virginia Department of Transportation towards <br />the design for the replacement of the Paradise Creek Bridge. <br />Vision Principles: <br />Neighborhoods and a Sense of Community and a Robust Economy for Working <br />Men and Women. <br /> <br />Background: <br /> <br /> The Paradise Creek Bridge is a structurally deficient bridge with a sufficiency <br />rating of 18.7. <br /> <br /> The VDOT Revenue Sharing Program provides an opportunity for localities to <br />provide local funds to match state funds for priority projects. <br /> <br />Discussion: <br /> <br /> VDOT issues a call to localities to submit Revenue Sharing applications for <br />qualifying projects in advance of their upcoming budget. City staff identifies projects <br />and submits the required applications and other supporting materials to VDOT for <br /> <br />consideration. <br /> <br /> This revenue sharing application will allow the City to start the design process for <br /> <br />replacing the bridge. <br /> <br /> VDOT approved the City’s application as part of its FY2015-2016 budget <br /> <br />process. <br /> <br /> <br /> Staff has received the project agreement and appendices from VDOT. <br /> <br />Financial Impact <br /> <br /> The preliminary estimate – design, right of way clearance, and construction – is <br />$8,600,000. <br /> <br /> The City must provide a $250,000 match if this application is approved by VDOT. <br />This requires a $250,000 commitment in the City CIP. <br /> <br /> <br /> <br /> <br />