HERCULES CITY COUNCIL
RESOLUTION NO. 22-
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF HERCULES DESIGNATING $3M OF CAPITAL RESERVE FUNDING AS THE CITY’S LOCAL MATCH FOR FUTURE GRANTS TO FULLY FUND THE HERCULES HUB PROJECT WHEREAS, the Hercules Hub will create a regional, state-of-the-art housing and transportation community on the waterfront overlooking the San Pablo Bay; and WHEREAS, the Hercules Hub will connect thousands of housing units with a new train stop along the Capitol Corridor, bicycle and pedestrian pathways, bus routes, carpool options, and ferry service; and WHEREAS, the Hercules Hub is one of the City’s top priorities; and WHEREAS, $46M in grant funding has been received for the Hub and approximately $3M in City funding is needed as a local match for the remaining $108M in grant funding needing to be secured to fully fund the project; and WHEREAS, there is adequate fund balance in the Capital Reserve Fund to designate $3M for the Hercules Hub.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Hercules that the City Council hereby designates $3M of Capital Reserve Funding as the City’s local match for future grants to fully fund the Hercules Hub project.
The foregoing Resolution was duly and regularly adopted at a regular meeting of the City Council of the City of Hercules held on the 24th day of January 2023 by the following vote of the Council:
AYES:
NOES:
ABSTAIN:
ABSENT:
____________________________
Alex Walker-Griffin, Mayor
ATTEST:
Eibleis Melendez, Acting City Clerk
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