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MOTION:BARG April 21,1997 <br />Special Meeting <br />SECOND:JENKINS Ru.No,97-338 <br />RE:TRANSPORTATION SPECIAL REVENUE FUND -FY 98 <br />ACTION:APPROVED <br />WHEREAS,duly advertised public hearings regarding tax levies and the FY <br />1998 Fiscal Plan were held on April 7 and 8,1997;and <br />WHEREAS,Potomac Rappahannock Transportation Commission (PRTC) <br />requested County transit support as follows: <br />PRTC Administration $216,660 <br />Commuter Bus $1,805,952 <br />VRE $1,721,324 <br />Ridesharing $104,805 <br />Intra-County Bus $1,704,714 <br />Debt Service Subsidy (excludes $205,000 <br />debt reimbursement from State)~U$4~15 <br />TOTAL $6,938,270;and <br />WHEREAS,fully funding the PRTC request shown above requires <br />$3,400,000 in FY 1998 fuel tax receipts,$840,000 in fuel tax fund balance,between $506,000 <br />and $1,100,000 in additional State or Federal funds,$80,487 in debt service early forward from <br />FY 1997,$132,933 in Virginia Transit Association (VTA)funds,$145,476 in additional State <br />Formula Assistance funds,$150,000 in Transportation Efficiency Improvement Funds (TEIF), <br />$85,844 in Ridesharing funds,$165,636 in Intelligent Transportation System (ITS)funds,and <br />$50,000 in additional State Capital Maintenance funds,and a $1,513,768 transfer from the <br />General fund;and <br />WHEREAS,the funds required to pay the annual lease payment obligation <br />for the use of the commuter parking and transportation facilities in FY 98 on $9,405,000 PRTC <br />Transportation Facilities Lease Revenue Bonds,Series 1991A is $935,660 and $654,155 is due <br />on the County of Prince William Lease Participation Certificates,Series 1995 totaling <br />$1,589,815;and <br />WHEREAS,the above levels of County transit support for Commuter Bus <br />and Intra-County Bus coupled with the use of $840,000 in fuel tax fund balance will assist <br />PRTC in maintaining the same level of bus service with no fare increase in FY 98 despite the <br />loss of $1,000,000 in Congestion Mitigation Air Quality (CMAQ)funding;and <br />WHEREAS,additional discussions are continuing between the County <br />Executive and the PRTC Executive Director towards refining FY 98 PRTC revenue estimates; <br />and <br />WHEREAS,there is ongoing regional discussions on the amount of <br />additional Federal or State funds which may be available to support PRTC operations in FY 98; <br />and