Title
Resolution to Accept Matching Funds from NC Department of Transportation to Reduce Local Match for Federal Fiscal Year 2014 FTA Section 5339 Bus and Bus Facility Grant
Body
Department: Transportation
Council District: Citywide
Public Hearing: NA
Advertising Date/By: NA
Contact 1 and Phone: Adam Fischer 373-2861
Contact 2 and Phone: Bruce Adams 412-6237
PURPOSE:
The City of Greensboro received a grant in the amount of $552,878 from the Federal Transit Administration for the purchase of one replacement (1) Hybrid Electric 40 foot bus that will be used in GTA's fixed route service. The North Carolina Department of Transportation recently approved a state funding match request in the amount of $53,064 to support this purchase. A resolution must be approved to accept these funds.
BACKGROUND:
At the March 17, 2015 meeting, the Greensboro City Council approved a budget ordinance establishing FY2014 FTA Section 5339 Bus and Bus Facility Grant funding in the amount of $552,878. These funds will be used to replace one (1) 40 foot fixed route bus that has exceeded FTA's useful life standards, both in years of service and mileage. The North Carolina Department of Transportation has approved a state funding match request in the amount of $53,064 (8%) for this purchase, which will be combined with a local match of $60,176 (9%) and FTA funding of $552,878 (83%). Previously, the 17% required local match was coming entirely from local funds.
BUDGET IMPACT:
The North Carolina Department of Transportation will contribute $53,064 for the purchase of one (1) replacement fixed route transit bus during fiscal year 2016. This will allow the City to reduce its required local match.
The original funding is as follows:
$552,878 (83%) Federal
$113,240 (17%) Local
$666,118 (100%) Total
The revised funding is as follows:
$552,878 (83%) Federal
$ 60,176 ( 9%) Local
$ 53,064 ( 8%) State
$666,118 (100%) Total
A budget adjustment w...
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