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135 NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Charlottesville, Virginia, requests the Commonwealth Transportation Board to establish a project for the construction of a landscaped island at the intersection of Ridge/Mclntire Road and Preston Avenue. BE IT FURTHER RESOLVED,. that the City of Charlottesville has sufficient capital improvement funds and agrees to pay the "local 20% match" toxvards the total cost of planning, design, right of way, and construction of this project (such total costs are estimated at $400,000), in accordance with guidelines for ISTEA funding. It is estimated that the local match by the City will be $80,000. BE IT FURTHER RESOLVED that, if the City subsequently elects to cancel this project, the City of Charlottesville agrees to reimburse the Virginia Department of Transportation for the total amount of the costs expended by the Department through the date the Department is notified of such cancellation. Mr. Toscano noted that the proposal for the bike and pedestrian link between Fontaine and Ridge is a different proposal than the one originally made which met with neighborhood opposition, and indicated that while a lot of work still needs to be done on the proposal and support is needed from the Fifeville Neighborhood, he feels the project has merit for the future. DISCUSSION: BUDGET PRIORITIES - FY 98/99 lX@. O'Connetl proposed the following strategies for the annual FY 98-99 budget: propose no new tax increases; develop operational budgets within projected available revenues; expand program measurement project to evaluate the efficiency and effectiveness of activities; continue the Strong commitment to education by' allocating no more than 40% of new City money to schools; invest strategically in employees by providing adequate pay, benefits, training, technology resources, support, and appreciation; maintain adequate balances and maintain a policy of 60 days working capital in the utility and golf funds; continue the philosophy ofgainsharing and maintain a policy of encouraging competition and privatization; fund no new programs without a long-term funding source and a clear means of evaluating performance; emphasize the Council priorities of creating more and better jobs, achieving balance, growing finances, building community, enhancing residential neighborhoods, improving education, and expanding the middle class; explore joint ventures with the Charlottesville schools, Albemarle County, and the University of Virginia and consider additional funding to support new cooperative undertakings; conduct agency- review jointly with Albemarle County and scrutinize agency requests which exceed the rate of inflation; transfer a sum of not less than 3% of the General Fund expenditures to the Capital Fund; and budget a contribution to the strategic investment fund to improve the City's overall vitality and growth. Ms. Daugherty said that she hopes staff will consider the budget impact of the idea to create tax districts for high tech businesses and tax incentives for families who build onto their homes and she would like to future explore those in the coming year. Mr. O'Connell said that staff is studying the issue of incentives for home expansions and meeting with business people to discuss the tax district approach or other possible incentives. Ms. Slaughter recommended that staff build on the information that came out of the Chamber of Commerce groups. Mr. Toscano said that he would like to stress the strategy of funding no new programs without a funding source, and expand the strategy to read "fund no new programs or major expansion of existing programs without a long-term funding source and a clear means of evaluating performance. Mr. Toscano said that he also supports building a strategic investment fund as part of the budget.