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File #: ID 20-0286    Version: 1 Name:
Type: Resolution Status: Passed
File created: 3/24/2020 In control: City Council
On agenda: 4/14/2020 Final action: 4/14/2020
Title: Resolution Authorizing Amended Agreement in the Amount of $5,550,000 with NCDOT for EB-6037C: A&Y Railbanking Project
Attachments: 1. 20-0286 RES A&Y Railbanking.pdf

Title

Resolution Authorizing Amended Agreement in the Amount of $5,550,000 with NCDOT for EB-6037C: A&Y Railbanking Project

 

Body

 

Council Priority: Maintain Infrastructure and Provide Sustainable Growth Opportunities

 

Department: Transportation

Council District: 3 & 4

 

Public Hearing: N/A

Advertising Date/By:

 

Contact 1 and Phone: Chris Spencer, 433-7218

Contact 2 and Phone: Tyler Meyer, 373-2254

 

PURPOSE:

A resolution needs to be approved to authorize execution of an amended agreement with NCDOT converting right-of-way funding to construction funding for EB-6037C: A&Y Railbanking Project.

 

BACKGROUND: 

In 2019 NCDOT agreed to provide funding support to the City for easements and rights-of-way needed to construct the A&Y Greenway / Downtown Greenway Phase 4.  Per City request, NCDOT has agreed to shift this funding to instead support the construction phase of the Downtown Greenway Phase 4 from Spring Garden Street to north of Benjamin Parkway. This Agreement specifies the reimbursement amount and the steps the City must following in order to receive the funding.

 

BUDGET IMPACT:

Funding for the original agreement is as follows:

 

$4,440,000 (80%) Federal Funds

$1,110,000 (20%) Local Matching Funds

$5,550,000

 

This amendment does not change the overall funding for the project.  A budget adjustment is needed to move funds from the right of way account to a construction account. 

 

RECOMMENDATION / ACTION REQUESTED:

Transportation staff recommends and requests approval of the attached resolution authorizing execution of an amended agreement with NCDOT converting right-of-way funding to construction funding for EB-6037C:  A&Y Railbanking Project.