Minutes 06/09/2020 - Laserfiche WebLink

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June 9, 2020 E. State funds received to reimburse net eligible operating expenses will be strategically allocated to each Participating City. Eligible state funds, in combination with eligible federal funds, will be allocated on an annual basis, in such combinations and amounts to be determined by the Commission. Subject to the requirements of Article X, and in the event eligible state funds are available, such funds will be allocated to the Participating Cities to offset any deficiencies between the estimated Local Share in each Participating City TSP and the actual Local Share determined by the Commission at the end of the fiscal year. 3. During the Hold Harmless Period, the City agrees to modify Article X, Calculation of Local Share of Operating Costs, of the Cost Allocation Agreement and add section (C) as follows: Article X. Calculation of Local Share of Operating Costs \[* * *\] C. The fiscal year of the Commission shall begin on July 1 and conclude on June 30. On or before June 30, 2020, the Commission shall allocate available and eligible federal and state funding to each Participating City in such a manner as to first offset the loss of recordation tax revenue to a Participating City as a result of Virginia Code § 58.1-816. The offset amount for each Participating City will be equal to the amounts stated in the table attached to this Agreement as Exhibit 1 (“Recordation Offset”). The Recordation Offset for each Participating City shall be retained in full by the Commission and applied in its entirety to the budgeted total local share of Local Funds for that Participating City, as stated in the Participating City TSP for FY2021. In the event the actual total local share of Local Funds is less than the budgeted total local share of Local Funds for a Participating City, after the application of the Recordation Offset, in FY2021 (“Surplus”), then such Surplus shall be refunded in full by the Commission to that Participating City on or before August 1, 2022. In the event the actual total local share of Local Funds, exceeds the budgeted total local share of Local Funds for a Participating City, after the application of the Recordation Offset, in FY2021 (“Deficit”), then such Deficit shall be paid in full by the Participating City to the Commission on or before August 1, 2022. As long as a Participating City receives a Recordation Offset from the Commission, such Participating City shall support the Commission as the transportation district in the Hampton Roads region to receive moneys from the Hampton Roads Regional Transit Program and Fund (Fund) established pursuant to Virginia Code § 33.2-2600, as may be amended from time to time. 4. Except for the obligation for the Commission to pay any surplus to the City of Portsmouth or the City to pay any deficit to the Commission by August 1, 2022, on July 1, 2021, all amendments to the Allocation Agreement contemplated by this Resolution shall automatically terminate, be deleted from the Allocation Agreement and of no further effect without the need of further action by any party to the Allocation Agreement.” Ayes: Battle, Clark, Glover, Lucas-Burke, Moody, Psimas, Rowe Nays: None - New Business - 20 - 150 - Items Submitted by Council Members Mayor Rowe asked for and received a consensus of City Council to have the Solomon  Ashby, City Attorney, come back at the next meeting with a written analysis of the process of the newly enacted Section 15.2-1812 and timeline regarding monuments. Mayor Rowe also asked that the City Attorney give an opinion as to ownership of the confederate monument.