AGENDA #4q
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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: |
Amendment to a Project Ordinance for a 2006 Transportation Capital Grant |
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DATE: |
June 27, 2007 |
The attached ordinance 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 thirteen 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 increased this grant to $2,521,735.
In April 2007, Chapel Hill Transit was contacted by the Federal Transit Administration and told that additional funds from the FY 2006 earmark were available and should be applied for or they would lapse on September 1, 2007. These funds totaling $30,528 have been applied for and were awarded on June 6, 2007.
The attached budget amendment 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 is $24,422 (80 percent). The State will provide $3,053 (10 percent) and the Town’s matching share of $3,053 is available in the Transportation Capital Reserve Fund.
That the Council enact the attached budget amendment.