City of Alexandria, Virginia
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MEMORANDUM
DATE: MARCH 15, 2022
TO: THE HONORABLE MAYOR AND MEMBERS OF CITY COUNCIL
THROUGH: JAMES F. PARAJON, CITY MANAGER /s/
FROM: EMILY A. BAKER, DEPUTY CITY MANAGER
JOANNA C. ANDERSON, CITY ATTORNEY
CHRISTINA ZECHMAN BROWN, DEPUTY CITY ATTORNEY
KENDEL TAYLOR, FINANCE DIRECTOR
YON LAMBERT, DIRECTOR, T&ES
HILLARY ORR, DEPUTY DIRECTOR, TRANSPORTATION, T&ES
CHRISTOPHER ZIEMANN, DIVISION CHIEF, TRANSPORTATION PLANNING, T&ES
DOCKET TITLE:
TITLE
Consideration of a Resolution Consenting to the Issuance of Bonds for Virginia Railway Express. [ROLL-CALL VOTE]
BODY
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ISSUE: Should Council consent to the issuance of bonds by the Virginia Railway Express (VRE) as authorized by the Northern Virginia Transportation Commission and Potomac and Rappahannock Transportation Commission to purchase right-of-way from CSX transportation?
RECOMMENDATION: That City Council adopt the attached resolution consenting to the issuance of bonds for Virginia Railway Express.
BACKGROUND: In 2018, the Virginia legislature created the Commuter Rail Operating and Capital (C-ROC) Fund. C-ROC funding is dedicated to "retaining, maintaining, improving, and developing commuter rail-related infrastructure improvements and operations" that are "essential to the Commonwealth's continued economic growth, vitality, and competitiveness." C-ROC funding may be used to support the cost of commuter rail operations as well as to make necessary capital investments and improvements through the issuance of debt. Some $15 million annually is dedicated to the C-ROC Fund from fuel tax revenues generated in the Northern Virginia Transportation Commission (NVTC) and Potomac and Rappahannock Transportation Commission (PRTC) regions.
In December 2019, Governor Ralph Northam announced the Transforming Rail in...
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