Agenda 07/27/1999 - Laserfiche WebLink

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RECEIVED DAVID R. GEHR COMMISSIONER JUL 2 6 1999 Enclosure #4 COMMONWEALTH of VIRGINIA DEPARTMENT OF TRANSPORTATION 1401 EAST BROAD STREET ' RICHMOND, 23219 JAMES S. GIVENS STATE SECONDARY ROADS ENGINEER Industrial Access City of Martinsville Project 9999-120-102, MS01 Clearview Business Park Mr. Earl B. Reynolds City Manager City of Martinsville P. O. Drawer 1112 Martinsville, Virginia 24114 Dear Mr. Reynolds: On July 15, 1999, the Commonwealth Transportation Board revised its policy concerning the Industrial Access Roads Program. Of particular importance was a change in the length of time allowed for documentation of eligible capital outlay on bonded projects. The term, which was formerly three years from the date of the funds' allocation, has been extended to five years from the allocation date. The policy revision also provided that the bonded period for all projects approved between March 21, 1996, and July 1, 1999, be extended for two additional years beyond their original expiration dates, contingent upon the affected locality providing acceptable surety for the extended period. The project serving the Clearview Business Park is eligible for this extension. The policy revision will allow the bonded period for this project to be extended to June 20, 2001, fithat is the desire of the Martinsville City Council. On March 18, 1999, the Commonwealth Transportation Board extended the bonded period for this project to December 20, 2000. The City has provided a surety bond to cover that period and VDOT has processed a payment request for reimbursement to the City of $450,000 expended on the access project. Please advise this office if the City wishes to further extend the project's bonded period. If so, the surety must be amended to expire no sooner than July 20, 2001. pc: Mr. F. C. A.Itizer, Jr. Mr. J. M. Amos By: James S. Givens State Secondary Roads Engineer Hugh W. Adams Transportation Engineering Program Supervisor WE KEEP VIRGINIA MOVING