Minutes 04/11/2023 - Laserfiche WebLink

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April 11, 2023 WHEREAS, the current Allocation Agreement does not permit HRT to strategically allocate its state and federal funding amongst the Participating Cities; and WHEREAS, the Allocation Agreement may be amended, via a resolution from each Participating City, to permit HRT to strategically allocate its eligible state and federal funding; and WHEREAS, the City of Portsmouth desires to temporarily modify and amend the Allocation Agreement so that HRT may help mitigate adverse financial impacts to it and the other Participating Cities from the date of this Resolution until June 30, 2024; and WHEREAS, HRT and other Participating Cities have represented that Article IX, Allocation of Revenues, sections (D) and (E) are not deleted permanently but suspended between July 1, 2023 and June 30, 2024 and Portsmouth has relied upon this representation; and WHEREAS, Portsmouth’s approval of this amendment is conditioned upon Article IX, Allocation of Revenues, sections (D) and (E) being suspended one year and returning to effect on July 1, 2024; NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Portsmouth, Virginia that: 1. Beginning July 1, 2023 and continuing until June 30, 2024 (“Effective Period”), which corresponds with HRT fiscal year 2024, 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 \[* * *\]