Title
Resolution Approving the Transfer of Funds from Mallory Street Reconstruction to Kecoughtan Road/Sunset Creek Railing that are Funded with Virginia Department of Transportation's Revenue Sharing Program Funds
Purpose
PURPOSE/BACKGROUND:
The City’s adopted Capital Improvement Plan (CIP) approved funding for VDOT funded Mallory Street Reconstruction and Kecoughtan Road/Sunset Creek Railing. The construction cost of the Mallory Street Reconstruction came in under budget and the cost of the Kecoughtan Road/Sunset Creek Railing are greater than programmed and the Virginia Department of Transportation has agreed to transfer the excess funds from the Mallory Street Reconstruction project to the Kecoughtan Road/Sunset Creek Railing project to cover the additional construction costs. These funds are reimbursable and are paid on a reimbursement basis following the expenditure of City funds. Council approval is requested to move the excess funds from the Mallory Street Reconstruction project and appropriate them to the Kecoughtan Road/Sunset Creek Railing project in the amount of $45,000 in the Capital Projects Fund.
Discussion:
N/A
Impact:
N/A
Recommendation:
Rec
Approve Resolution
Body
WHEREAS, the City’s adopted Capital Improvement Plan (CIP) approved funding for VDOT funded Mallory Street Reconstruction and Kecoughtan Road/Sunset Creek Railing; and
WHEREAS, the construction cost of the Mallory Street Reconstruction came in under budget and the cost of the Kecoughtan Road/Sunset Creek Railing are greater than programmed; and
WHEREAS, the Virginia Department of Transportation has agreed to transfer the excess funds from the Mallory Street Reconstruction project to the Kecoughtan Road/Sunset Creek Railing project to cover the additional construction costs; and
WHEREAS, these funds are reimbursable and are paid on a reimbursement basis following the expenditure of City funds; and
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF HAMPTON, VIRGINIA: that the excess funds from the Mallory Street Reconstruction project be transferred and appropriated to the Kecoughtan Road/Sunset Creek Railing project in the amount of $45,000 in the Capital Projects Fund.