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COMMUNITY DEVELOPMENT <br /> MEMORANDUM <br /> NO. 92-215 <br /> October 14, 1992 <br /> To: Honorable Mayor and City Council Members <br /> From: James C. Bacon, Jr. , City Manager <br /> David A. Clark, Director of Department of Community <br /> Development <br /> Robert S. Reed, Mass Transit Administrator <br /> Subject: Capital Grant Agreement with FTA <br /> Upon City Council approval, the attached resolution will <br /> authorize the execution of a mass transit capital grant agreement <br /> with the Federal Transit Administration. The federal government <br /> is providing $740,730 , or 80$ of the total project costs of <br /> $925 ,913. The project includes money for the purchase of 2 new <br /> buses, 3 supervisory vehicles, office equipment, and additional <br /> funding for the proposed mass transit facility. <br /> The State is expected to provide the matching 20$ funding in <br /> a few weeks. Activity on various project items will commence <br /> this fall. <br />