Title
Resolution Requesting $1,600,000 from the Virginia Department of Transportation’s ("VDOT") FY19 Revenue Sharing Program and Authorization for the City Manager to Execute Necessary Project Agreements
Purpose
PURPOSE/BACKGROUND:
The City of Hampton has identified two projects that potentially qualify for VDOT’s consideration under the Revenue Sharing program under Va. Code 33.2-357. This program funds projects on a 50% State and 50% Local share basis. The two projects are existing Revenue Sharing projects that have experienced a shortfall in funding. They are the Freeman Drive Reconstruction project which includes part of the Waterwalk at Central Park and the King Street Phase IV project which is located just north of Pembroke Avenue.
Discussion:
Increases in both of the estimated project costs are based on changed site conditions and the increase in construction costs in general since these projects were first requested.
Impact:
These projects have a 50% local match requirement. Funding for this match will be requested in the upcoming FY19 and FY20 Capital Improvement Plans.
Recommendation:
Rec
Approve Resolution
Body
WHEREAS, the City of Hampton desires to submit an application for an allocation of $1,600,000 through the VDOT's fiscal year 2019 Revenue Sharing Program;
WHEREAS, the City of Hampton has identified two (2) potentially qualifying projects for VDOT’s consideration for funding under this program; and
WHEREAS, the City of Hampton has committed funding for these projects equal to or in excess of any VDOT revenue sharing funds received.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF HAMPTON, VIRGINIA: hereby authorizes the City Manager to submit the following projects for consideration by VDOT through the Revenue Sharing Program:
1. Freeman Drive Reconstruction (UPC 104372) - Estimated Cost: $1,300,000
2. King Street Phase IV (UPC 107340) - Estimated Cost: $ 300,000
Total: $1,600,000
BE IT...
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