Title
Resolution to Amend the City Manager’s Council Approved FY2023 Capital Budget to Accept and Appropriate $2,581,382 in Revenue Share Funding from the Virginia Department of Transportation to the Capital Projects Fund for the Grant Street Roadway Project; and to Transfer Bond Funds of $873,342 from Multiple Completed Bond Projects to the Grant Street Roadway Bond Project
Purpose
The Grant Street Roadway Project (the “Project”) is new road construction on Grant Street to connect the existing Grant Circle to Armistead Avenue. The new roadway will help revitalize the Old Hampton neighborhood and support the new Mary Jackson Community Center.
The Project’s total cost is approximately $6,376,386; half of which VDOT will reimburse to the City; the other half the City will pay directly as the required local match. City Council previously requested that VDOT program the Project and approved and appropriated a portion of the funding necessary to the Project. The current action accepts and appropriates $2,581,382, which is the remaining revenue share portion. In addition, City staff has identified balances remaining on multiple completed projects that can also be transferred and appropriated to the Project, as follows: $300,000 from the completed King Street Phase IV Bond Project; $234,515 from the Coliseum Drive Extension Phase A Bond Projects; $156,059 from the Pembroke Avenue Phase III A Bond Project; $78,483 from the Circuit Court Building Bond Projects; $40,130 from the Newmarket Creek Trail Bond Projects; $27,066 from the King Street Phase III Bond Project; $17,317 from the Mercury Boulevard Phase II Bond Project; $14,749 from the Buckroe Avenue Bond Projects; and $5,023 from the Bridge Street Bridge Bond Project, all totaling $873,342. Hampton City Charter Sec. 6.12 and Hampton City Code Sec. 2-137 require that the City Council approve the transfer of unencumbered appropriations from one department to another department, as well as any transfer of ...
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