Narrative of Resolution:
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The Neversink Crossing project is located in the Town of Fallsburg and was identified as a priority project in the 2019 feasibility study conducted for the O&W Rail Trail. With $2.66 million in Federal, State and private funds secured to support the project and an estimated construction cost of $3.2 million, a funding gap of approximately $550,000 must be addressed before the project can move forward. This resolution commits Sullivan County to provide the funds needed to cover the gap.
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If Resolution requires expenditure of County Funds, provide the following information:
Amount to be authorized by Resolution: $550,000
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RESOLUTION INTRODUCED BY EXECUTIVE COMMITTEE TO ALLOCATE FUNDS FOR THE CONSTRUCTION PHASE OF THE NEVERSINK CROSSING ON THE SULLIVAN O&W RAIL TRAIL
WHEREAS, completing the development of the Sullivan O&W Rail trail (the “Trail”) has been identified as a priority of Sullivan County (“County”); and
WHEREAS, a feasibility study for the completion of the Trail was funded by the New York State Office of Parks, Recreation & Historic Preservation and completed in 2019, with the participation of the Town of Fallsburg (“Town”); and
WHEREAS, the Neversink Crossing project (“Project”) was identified as a priority project as a connector of two existing trails to create a trail of regional significance; and
WHEREAS, the Town and the County have been working together to finalize the engineering for the Project; and
WHEREAS, the Town and the County have successfully secured over $2.6 million from federal, state, local, and private funding sources to support the construction of the Project; and
WHEREAS, based on the most recently updated cost estimates for the Project a funding gap remains for the construction phase which includes construction, mobilization, and construction management; and
WHEREAS, the Sullivan County Legislature is committed to seeing the construction of this project through completion and wishes to allocate funding to the Assigned Fund Balance - O&W Rail Trails for the purpose of closing the identified funding gap.
NOW, THEREFORE, BE IT RESOLVED, that the 2024 Operating Budget is modified as follows for the purpose of funding construction of the O&W Rail Trail Neversink Crossing Project:
Increase A-8020-90-40-4001 $550,000
Increase A-9999-R2401-R223 $550,000
BE IT FURTHER RESOLVED; that these funds are dedicated for the purpose of funding construction of the O&W Rail Trail Neversink Crossing Project, and the Sullivan County Legislature authorizes all funds remaining at the conclusion of FY2024, up to $550,000, to be transferred to the Assigned Fund Balance - O&W Rail Trails for the purpose of funding the construction phase of the Neversink Crossing project, said amount to be funded from interest income revenue.
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