Minutes 04/27/2021 - Laserfiche WebLink

Home Browse Search

April 27, 2021 1. Beginning July 1, 2021 and continuing until June 30, 2022 (“Effective Period”), which corresponds with HRT’s fiscal year 2022, HRT is authorized to strategically allocate its available and eligible federal and state funding, to the City of Portsmouth. 2. During the Effective Period, the City agrees to modify the Allocation Agreement. Article IX, Allocation of Revenues, sections (D) and (E) shall be deleted and replaced as follows: Article IX. Allocation of Revenues \[* * *\] D. Federal funds received to reimburse net eligible operating expenses will be strategically allocated to each Participating City. Eligible federal funds, in combination with eligible state 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 federal 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 each of the fiscal year. 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 Effective 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. 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 Commission has strategically allocated federal and state funds in FY2022 (“Surplus”), then such Surplus shall be refunded in full by the Commission to that Participating City on or before August 1, 2023. 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 Commission has strategically allocated federal and state funds in FY2022 (“Deficit”), then such Deficit shall be paid in full by the Participating City to the Commission on or before August 1, 2023. 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, 2023, on July 1, 2022, 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: Barnes, Battle, Lucas-Burke, Moody, Whitaker, Woodard, Glover Nays: None - New Business - 21 - 134 - Boards and Commissions Vice Mayor Barnes offered the following nominations: