Title
Resolution Authorizing the Transfer of Two Hundred NineteenThousand Dollars from the Hampton Roads Center Parkway at Big Bethel Intersection Improvements Bond Fund Project to the Freeman Drive Re-Alignment Bond Fund Project; to Request the Virginia Department of Transportation to Program into its Six Year Improvement Plan the Full Cost of the Freeman Drive Realignment Project; and to Appropriate an Additional Sum of Eighteen Thousand Five Hundred and 00/100 Dollars for the Freeman Drive Re-Alignment Project
Purpose
PURPOSE/BACKGROUND:
See discussion below.
Discussion:
The Freeman Drive Realignment Project (UPC 104372) was first incorporated as a Virginia Department of Transportation ("VDOT") Revenue Sharing Project during Fiscal Year 2014 (See Resolution File No. 12-0381) in the total amount of $1,175,000. Appropriations for both the state and local portions of that project (as initially approved) were included in the Capital Improvement Project Budgets approved for Fiscal Years 2014, 2015, 2016, in the amounts of $125,000, $100,000, and $950,000, respectively. In Fiscal Year 2018, in response to higher project costs, VDOT agreed to an increase for this project. Most of the local portion of that increase was approved and appropriated through the Fiscal Year 2019 Capital Improvement Budget. The remaining need ($438,000) for the project will be covered from savings from the Hampton Roads Center Parkway at Big Bethel Intersection Improvements project which had been completed. Therefore, the City needs to transfer its 50% share ($219,000) from the Hampton Roads Center Parkway at Big Bethel Intersection Improvements project to the Freeman Drive project. The local portion of those funds was funded by bond proceeds. 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 bond proceeds....
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