AGENDA #4e
TO: Mayor and Town Council
FROM: W. Calvin Horton, Town Manager
SUBJECT: Amendment to a Project Ordinance for a 2005 Transportation Capital Grant
DATE: May 22, 2006
The attached ordinances would increase the project budget for a transit capital grant.
The Town of Chapel Hill was awarded a grant on August 9, 2005 to complete the rehabilitation of 13 1990 GMC RTS buses. A partial allocation was received on August 9, 2005 and the project budget was established on September 12, 2005. The balance of the allocation was received on February 14, 2006, totaling $814,080. The additional award increases this grant to $2,521,735.
The attached budget amendments would allow the Town to receive additional capital funds for bus-related projects and to provide for the required grant match. The Federal portion of the additional funds of $814,080 total $651,264 (80 percent). The State will provide $81,408 (10 percent) and the Town’s matching share of $81,408 is available in the Transportation Capital Reserve Fund.
That the Council enact the attached budget amendments [2006-05-22/O-1a & 2006-05-22/O-1b].