Title
Resolution to amend the Fiscal Year 2026 Council Approved Budget and Accept and Appropriate to the Capital Budget (Capital Projects) Fund $918,000 and any related supplemental funding received from the Virginia Department of Transportation pursuant to the Memorandum of Agreement and 2023 Letter Agreement Regarding the Redesign and Reconstruction of 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 was related to the removal and relocation or storage of Park elements during the project's 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. City Council accepted and appropriated that payment on May 25, 2022.
The second cost estimate is related to the redesign and reconstruction of the Park following the Project's completion. After being unable to reach agreement on a specific reimbursement amount, the City and VDOT signed a letter agreement dated December 15, 2023 stating that VDOT will compensate the City for its actual costs. The letter agreement established a procedure by which the City submits quarterly cost estimates to VDOT for review, approval, and, ultimately, payment. There is not a set cap on the overall amount of the...
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