Council approves additional VDOT funding

Published 9:00 am Thursday, February 22, 2024

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Suffolk City Council approved additional funding towards their Nansemond Parkway/Bennetts Pasture Road Intersection Improvements project.

During their Wednesday, Feb. 7, council hearing held at City Hall Chambers, council members approved an ordinance to accept $1,895,562 from the Virginia Department of Transportation (VDOT) with a required local match of $1,895,561. This follows the city receiving construction bids for the improvements project on Dec., with funding being in addition to $555,000 programmed into the proposed FY 2025-2034 Capital Improvements Program Plan (CIP). City Manager Albert S. Moor II read the consent agenda.

“Due to escalating costs, an additional $3,791,123 is required for the project to move forward. The Virginia Department of Transportation has [provided] an additional $1,895,562 with a required local match of $1,895,561,” Moor said. “It is recommended that transfer of available funds in the amount of the $1,895,561 be transferred from the General Fund Committed Fund Balance Capital Reserve Fund to the Capital Projects Fund.”

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The Capital Reserve Fund has an available balance of $46,215,463, where $22,917,143 is programmed for capital projects in the CIP throughout the next five years. The ordinance adoption increases the planned revenues and expenditures of the Capital Projects Fund budget by $3,791,123, including $1,895,562 in VDOT funds and $1,895,561 from the General Fund Committed Fund Balance Capital Reserve Fund.