Title
Resolution Appropriating $289,657 in Additional State VDOT Revenue Sharing Funds to the Buckroe Avenue Reconstruction Phase 1 Capital Project and $323,318 in Additional State VDOT Revenue Sharing Funds for the Central Park (Newmarket Creek) Capital Project
Purpose
PURPOSE/BACKGROUND:
The City is proposing to construct a streetscaping project on Buckroe Avenue as part of VDOT Project UPC 102988 and a pedestrian/bike trail in Central Park as part of VDOT Project UPC 102965. Bids for construction of both projects have been received and were greater than the amount programmed.
Discussion:
The City has applied for VDOT Revenue Sharing funds to provide streetscaping amenities on Buckroe Avenue from North First Street to North Mallory Street and to provide a pedestrian/bike trail in Central Park from Mercury Blvd. to Armistead Avenue. Additional VDOT Revenue Sharing funds totaling $612,975 have been identified from recently completed City Revenue Sharing projects that had a surplus of funds. VDOT has agreed to transfer these surplus funds to cover the shortfalls on these two projects.
$71,700 of the additional funds for the Buckroe Avenue Reconstruction Phase 1 project were transferred from the North Campus Parkway Revenue Sharing project with the remainder coming from the North King Street Phase 3 Revenue Sharing project. Since VDOT Revenue Sharing funds require a City match, the match was transferred from the local share on the North Campus Parkway and King Street Phase 3 Revenue Sharing projects.
$83,882 of the additional funds for the Central Park (Newmarket Creek) Revenue Sharing project were transferred from the North King Street Phase 2 Revenue Sharing project with the remainder coming from the North King Street Phase 1 Revenue Sharing project. Since VDOT Revenue Sharing funds require a City match, the required additional match was transferred from the local share on the North King Street Phase 2 Revenue Sharing project.
Staff believes the b...
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