City of Alexandria, Virginia
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MEMORANDUM
DATE: APRIL 4, 2018
TO: THE HONORABLE MAYOR AND MEMBERS OF CITY COUNCIL
FROM: MARK B. JINKS, CITY MANAGER /s/
DOCKET TITLE:
TITLE
Amending and Restating the Agreement between the Washington Metropolitan Area Transit Authority and the City of Alexandria to Provide Increased Funding for the Potomac Yard Metrorail Station Project, Consideration of the Repeal of the Tier II Special Tax District, and Revision of the Developer Contributions Agreement with the Owner of North Potomac Yard.
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ISSUE: (a) City Council authorization of an increase in the Potomac Yard Metrorail Station project budget to $320 million. (b) Consideration of the repeal of Tier II Special Tax District and (c) Revised Developer Contributions agreement with the owner of North Potomac Yard.
RECOMMENDATION: That City Council:
(1) Adopt a revised project budget for the Potomac Yard Metrorail Station of $320 million;
(2) Authorize the City Manager to sign the Amended and Restated Agreement Between the Washington Metropolitan Area Transit Authority (WMATA) and the City for the Funding of the Potomac Yard Station Project. (The Funding Agreement amount is $290 million which represents the WMATA portion of the revised estimated project budget of $320 million);
(3) Direct the City Manager to bring an ordinance forward in May, to be considered if the City Council endorses Dominion Energy's alignment of the 230kV line on that same docket, to add a provision to the Tier II Potomac Yard Metrorail Station Special Services District that would sunset the Special Tax District when the Potomac Avenue alignment of the 230kV line is approved;
(4) Direct the City Manager to negotiate, consistent with the terms described herein, an amended Memorandum of Understanding related to developer contributions with the owner of the North Potomac Yard property, subject to future City Council...
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