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November 14, 2017 <br /> <br />WHEREAS, <br /> the Council of the City of Portsmouth, Virginia hereby supports the <br />application for an allocation of funds up to $250,000 to be matched through the VDOT FY <br />2019-2020 Revenue Sharing Program for the Project; <br /> <br />NOW, THEREFORE, BE IT RESOLVED <br /> by the Council of the City of Portsmouth, <br />Virginia, that it hereby agrees to commit to the City’s local share of the total cost for <br />preliminary engineering, right-of-way and construction of the Project in accordance with <br />the Project financial documents. <br /> <br /> BE IT FURTHER RESOLVED <br /> that the City Manager is hereby authorized to <br /> <br />execute the project agreements in the form required by VDOT for the Project.” <br /> <br />Ayes: Cherry, Clark, Lucas-Burke, Moody, Psimas, Whitaker, Rowe <br />Nays: None <br /> <br />17 - 493 - Adoption of a resolution supporting an application to the Virginia <br />Department of Transportation (VDOT) for funding allocations of $2,000,000 for FY <br />2019 and $2,050,000 for FY 2020 through the VDOT Revenue Sharing Program for <br />the Paradise Creek Bridge Replacement Project. <br /> <br />Background: <br /> <br /> The Paradise Creek Bridge is a structurally deficient bridge with a sufficiency rating <br />of 18.7. The bridge was constructed in 1944. <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 /> VDOT issues a call to localities to submit Revenue Sharing applications for <br /> <br />qualifying projects in advance of their upcoming budget. <br /> <br /> City staff identifies projects and submits the required applications and other <br /> <br />supporting materials to VDOT for consideration. <br /> <br /> In July 2017, the VDOT Revenue Sharing Program was changed for the purpose <br />of allowing more localities and projects to receive funding. The VDOT Revenue Sharing <br />Program now operates on a biennial application request cycle. A locality may now apply <br />for a maximum of $5 million in matching allocations per fiscal year ($10 million per biennial <br /> <br />cycle) and the maximum lifetime matching allocation per project is limited to $10 million. <br /> <br />Discussion: <br /> <br /> The City previously received $500,000 in Revenue Sharing Funds for design. The <br /> <br />funds requested in this application will go towards construction. <br /> <br /> A resolution from City Council outlining the request to participate and affirming its <br /> <br />support of the project is required to complete the application process. <br /> <br />Financial Impact: <br /> <br /> <br /> The project estimate is $8,600,000. <br /> <br /> The city of Portsmouth is requesting $2,000,000 in FY 2019 Revenue Sharing <br /> <br />Funds and $2,050,000 in FY 2020 Revenue Sharing Funds from the State. <br /> <br /> The city must provide a $2,000,000 match in FY 2019 and a $2,050,000 match in <br />FY 2020 if this application is approved by VDOT. This requires a $4,050,000 commitment <br /> <br />in the city CIP. <br /> <br /> City staff is also pursuing additional funding through other infrastructure programs. <br /> <br />If successful, the FY 2020 Revenue Sharing Funds will not be required. <br /> <br />Recommended Action: <br /> <br /> <br /> Adoption of the resolution. <br /> <br />Next Steps Following Council Action: <br /> <br /> <br /> Submit resolution to VDOT <br /> <br />Motion by Mr. Cherry, and seconded by Ms. Lucas-Burke, to adopt the following <br />resolution, and was adopted by the following vote: <br /> <br /> <br /> <br /> <br /> <br /> <br />