The following was provided by the City Manager regarding various requests for interlocal funds. There is $46.6M available for funding medium sized projects. The requests total $73M. Here are the details.
Mayor and Council Members:
The Request for Proposals (RFP) process for the Hospitality Tax Medium Projects allocation has closed and Wake County staff has received proposals for six (6) projects, which are summarized in the table below.
The six proposals total almost $73 million in funding requests; there is $46.6 million in Medium Projects funding allocated for this category of projects. The next steps for the process will be for an evaluation team with representatives from the City, County and community to work through each of the proposals and receive presentations from each of the proposers. Once the evaluation team wraps up its work, the results will be presented to the Wake County and City of Raleigh elected boards for decisions on funding commitments this spring.
As a reminder, the 21st amendment signed in August of 2019 allocated funding for 1. an indoor sports facility and 2. a medium projects fund for initiatives located within Wake County; these are in addition to the other obligations of the Interlocal Fund. The 21st amendment instructed staff to proceed with two (2) RFP processes to assist in the funding recommendations. The funding recommendation for the indoor sports facility is on the consent agenda for tomorrow’s City Council meeting. Should you have any questions, please reach out to Jim Greene, Assistant City Manager or Allison Bradsher, CFO.