AGENDA #4m
memorandum
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to: |
Roger L. Stancil, Town Manager |
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from: |
K. Stephen Spade, Transportation Director |
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subject: |
Project Ordinance Amendment to Accept a Transportation Grant |
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date: |
June 11, 2007 |
The attached resolution and ordinance would amend the budget prepared on June 16, 2006, which included estimates for grants that have now been awarded to the Town of Chapel Hill for the new Town Operations Center. This resolution will accept the final grant for the Transportation portion of the Town Operations Center.
Project ordinances for the Transit portion of the Town Operations Center were prepared on October 27, 2003, and amended on November 24, 2003, June 14, 2004, June 30, 2004, November 22, 2004, June 20, 2005, October 24, 2005, and June 16, 2006. At the time the project ordinances were prepared, the exact amount of some grants was unknown. The attached resolution would authorize acceptance of the final grant for the Transit portion of the Town Operations Center. The new grant replaces a previous grant estimate. The total project budget is hereby reduced with this grant and is now $21,682,524.
On May 16, 2007, the Town of Chapel Hill was awarded a grant for the new facility by the Federal Transit Administration in the amount of $2,088,330 for construction of the transit portion of the Town Operations Center. The federal portion of the grant is $1,670,664 (80%); State funds totaling $208,833 (10%) have been requested; and local matching funds of $208,833 (10%) are available in the Transportation Department’s capital reserve fund. Overall, we have adequate funding for the project.
That the Council adopt the attached resolution and enact the attached ordinance authorizing acceptance of the above mentioned grant.