Title
To authorize the Chief Administrative Officer to accept $8,003,045 from the Federal Transit Administration and to appropriate the increase to the Fiscal Year 2013-2014 Capital Budget by increasing estimated revenues and the amount appropriated to the Department Public Works' Main Street Station Multi-Modal Transportation Center project in the Economic and Community Development category by $8,003,045 for the purpose of funding the Main Street Station Phase 3 development.
Body
O&R REQUEST
DATE: March 14, 2014 EDITION:|910|
TO: The Honorable Members of City Council
THROUGH: Dwight C. Jones, Mayor
THROUGH: Byron Marshall, Chief Administrative Officer
THROUGH: Sharon Judkins, Deputy Chief Administrative Officer for Finance and
Administration
THROUGH: Jay Brown, Acting Director, Department of Budget and Strategic Planning
THROUGH: Peter Chapman, Deputy Chief Administrative Officer for Economic Development and Planning
FROM: Lee Downey, Director, Economic and Community Development
SUBJECT: Authorizing the Chief Administrative Officer to accept and appropriate $8,003,045 from the Federal Transit Administration for the Main Street Station development
ORD. OR RES. No.
PURPOSE: Authorizing the Chief Administrative Officer to accept and appropriate $8,003,045 from the Federal Transit Administration for the Main Street Station development. The funding has been allocated by the Richmond Area Metropolitan Planning Organization. The federal funding is at an 80% level requiring a 20% local match which is provided by the Virginia Department of Rail and Public Transportation.
REASON: The federal funding will provide capital financial assistance for the Phase 3 development of the Main Street Station.
RECOMMENDATION: Approval.
BACKGROUND: The City of Richmond has embarked on the development of the Main Street Station to strengthen the transportation network of the region, bolster economic vitality in downtown and to rehabilitate a historic landmar...
Click here for full text