Title
Resolution to amend the Fiscal Year 2022 Council Approved Budget and Accept and Appropriate to the Capital Budget (Capital Projects) Fund for the River Street Park Project, $113,490 Received from the Virginia Department of Transportation pursuant to the Memorandum of Agreement Regarding River Street Park
Purpose
PURPOSE/BACKGROUND:
In order to address impacts to River Street Park (the “Park”) as a result of the Hampton Roads Express Lane Project Segment 4(c), the City negotiated a Memorandum of Agreement (the “Memorandum”) with the Virginia Department of Transportation (“VDOT”) regarding the Park. The Memorandum was fully executed by the City and VDOT on August 23, 2021. Under the Memorandum, there are two cost estimates that the City must submit to VDOT. The first cost estimate is related to the removal and relocation or storage of Park elements during the Project’s construction and the second cost estimate is related to the redesign of the Park following construction.
Following the City’s submission of the first cost estimate to VDOT and further discussions, VDOT signed a letter agreement on March 11, 2022, stating that VDOT would pay the City one hundred thirteen thousand four hundred ninety dollars ($113,490) for the removal and relocation or storage of certain Park elements during the Project’s construction. VDOT submitted the payment to the City via wire transfer on March 21, 2022. The source of the VDOT payment is the Hampton Roads Transportation Fund. The purpose of this resolution is to accept and appropriate the payment received by VDOT.
Discussion:
See Purpose/Background
Impact:
The VDOT payment will fund the City’s cost to remove and relocate or store certain elements of River Street Park during construction of the Hampton Roads Express Lane Segment 4(c) Project.
Recommendation:
Rec
Approve Resolution
Body
WHEREAS, the City of Hampton, Virginia (the “City”) and the Virginia Department of Transportation (“VDOT”) entered into a Memorandum of Agreement regarding River Street Park dated August 23, 2021 (the “Memorandum”);
WHEREAS, pursuant to that Memorandum, the City submitted a cost estimate to VDOT regarding the removal and relocation or storage of Park elements during construction associated with VDOT’s Hampton Roads Express Lane Project Segment 4(c);
WHEREAS, the City and VDOT entered into a letter agreement on March 11, 2022, stating that VDOT shall pay one hundred thirteen thousand four hundred ninety dollars ($113,490) to the City for such removal and relocation or storage; and
WHEREAS, VDOT submitted this payment to the City on March 21, 2022.
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Hampton, Virginia hereby amends the Fiscal Year 2022 Council Approved Budget to accept and appropriate to the Capital Budget (Capital Projects) Fund for the River Street Park Project, $113,490 that has been received from VDOT pursuant to the Memorandum of Agreement regarding River Street Park.