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93 <br /> <br /> Ms. Daugherty noted that staffis studying the idea of a utility surcharge as a way <br />to pay for undergrounding of utilities. <br /> <br /> Mr. Caravati asked if there is any interest by Council in taking Lloyd Smith up on <br />his offer to pay for a study of whether Virginia Power can be forced to pay for <br />undergrounding of utilities. <br /> <br /> Ms. Daugherty said she would be interested in studying the issue, but would <br />prefer to take the City's Attorney's suggestion that another attorney who is considered an <br />expert in the field be asked for a second opinion rather than using the Legal Research <br />Group as suggested by Mr. Smith. <br /> <br /> Ms. Daugherty said that the $1.6 million price tag for the proposed roundabout at <br />the intersection of Preston, Market and Mclntire "blew it out of the water" as a feasible <br />project for her. <br /> <br /> Ms. Richards said she is not convinced the roundabout project is worth the cost, <br />and noted that previous minutes of Council meeting show that the project has never been <br />formally approved by Council. <br /> <br /> Mr. O'Connell said that a better location for a roundabout may be the <br />Grady/Preston intersection because currently the Preston, Market and Mclntire <br />intersection works fairly well and that one does not. In addition, Mr. O'Connell said that <br />less drainage would be required for the Grady/Preston intersection which would lower the <br />cost. Mr. O'Connell said that the consultant is currently studying the Grady/Preston <br />intersection. <br /> <br /> Mr. Toscano suggested that these funds could be targeted and if they are not used <br />they could be reprogrammed. <br /> <br /> Responding to a question from Ms. Daugherty, Ms. Peacock said the housing <br />initiatives funds cover such projects as were done in Starr Hill and Elliott Avenue. <br /> <br /> Ms. Richards said she would like to consider putting more money into traffic <br />signals. <br /> <br /> Ms. Peacock explained that staff try to work with businesses who request traffic <br />signals and have them pay for part of the cost of their installation~ <br /> <br /> Mr. O'Connell pointed out that over $500,000 is in the general traffic calming <br />fund which has not been programmed. <br /> <br /> Mr. Caravati said that the period of time when Rio Road is closed would be a <br />good time to implement traffic calming on Park Street. <br /> <br /> Responding to a question from Mr. Cox, Mr. O'Connell said that the economic <br />development initiative funds for West Main Street are reserved for the Union Station <br />Project. <br /> <br /> Mr. Toscano said that the funds could be used to jumpstart parking or some other <br />project associated with Union Station. <br /> <br /> Mr. Cox asked if the funds could be used for leasing space for businesses, but Ms. <br />Peacock said that would require ongoing funds and would not be an appro~)riate use of <br />capital funds. <br /> <br /> Responding to a question from Ms. Richards, Ms. Peacock said that a <br />neighborhood match has been requested as an incentive for the completion of Belmont, <br />Greenbrier and Washington Parks because of the success in Washington Park, though no <br />level of match has been decided upon. <br /> <br /> <br />