Title
Resolution to Amend the Fiscal Year 2023 Council Approved Budget to Appropriate $218,469 from the Economic Development Fund Balance to the Transportation Initiative Project in the Capital Projects Fund
Purpose
PURPOSE/BACKGROUND:
The Freeman Drive Alignment Project ("Project") was completed in July of 2020. That Project provided realignment and street improvements to provide safe and adequate access to the future Newmarket Creek Park and Trail System and to encourage completion of the H20 development (by a private developer). Public Works constructed that Project using then available project funds. The purpose of this transfer is to reimburse Public Works for that expenditure.
Discussion:
See Purpose/Background.
Impact:
See Purpose/Background.
Recommendation:
Rec
Approve Resolution
Body
WHEREAS, the Public Works Department provided realignment and street improvements along Freeman Drive to provide safe and adequate access to the future Newmarket Creek Park and Trail System, as well as to encourage completion of the nearby H2O privately-constructed development;
WHEREAS, the Public Works Department funded that construction using then available project funds; and
WHEREAS, $218,469 of the Economic Development Fund Fund Balance has been identified and is available to reimburse Public Works for that expenditure.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF HAMPTON, VIRGINIA that:
The Fiscal Year 2023 Council Approved Budget is amended to appropriate $218,469 from the Economic Development Fund Fund Balance to the Transportation Initiative Project in the Capital Projects Fund.