Title
Adoption of Resolution in Support of Funding Opportunity Regarding Hamlin Road, Crooks to Livernois
Body
Whereas, the Oakland County Federal Aid Task Force Committee recently approved $8,400,000.00 towards the reconstruction of Hamlin Road between Crooks and Livernois for 2008 fiscal year federal funding; and
Whereas, the $8,400,000.00 is less than the requested federal funds needed for the construction phase of this project; and
Whereas, the total construction cost phase for the Hamlin Road project is currently estimated at $12,500,000.00, and of which eighty percent, or $10,000,000.00 is eligible for federal funding reimbursement; and
Whereas, the City of Rochester Hills has the option to utilize the $8,400,000.00 available federal funds in fiscal year 2008, and advance fund the estimated remaining $1,600,000.00; and
Whereas, the City of Rochester Hills reserves the right to be reimbursed any eligible advance construction monies spent from a future federal fund appropriation through the Surface Transportation Program - Urban Category funding; and
Whereas, it is known that federal road funding dollars made available to Oakland County are limited and competition is high amongst communities desiring to reconstruct and improve roadways; and
Whereas, the City of Rochester Hills does not desire to jeopardize losing or further delaying the option to use the $8,400,000.00 awarded for reconstruction of Hamlin Road between Crooks and Livernois for fiscal year 2008.
Resolved that the Rochester Hills City Council hereby agrees to immediately reserve (in fund balance) and support advance funding the additional amount of fiscal year 2008 construction phase expenses currently estimated to be $1,600,000.00 for the Hamlin Road reconstruction project between Crooks and Livernois beyond the $8,400,000.00 available federal funds.