manager since June 2007. Harrell replaced interim CEO Phillip A. Shucet on April 2, 2012. Phillip A. Shucet was hired in February 2010 as an interim CEO to help complete construction of The Tide light rail while the company searches for a permanent replacement for long-time executive director Michael Townes. Townes was pressured by the board of directors and ultimately agreed to step down after the revelation of a $100 million cost overrun and a one-year delay on Norfolk's light-rail starter line, which has been named "The Tide". Shortly previously, Townes had been criticized for his handling of an employee embezzlement scheme. While he had not been directly involved in the earlier problem, a majority of the board members cited poor management and communication on his part in calling for him to step down. Funding Hampton Roads Transit has approximately $30,000,000 dedicated revenue source from the Commonwealth of Virginia. Additional funding for service is provided with federal, state and local funding provided by member jurisdictions and farebox revenues. Local funding is provided based on the Cost Allocation Agreement – each city establishes how much service will be provided within its borders based on how much it is willing to pay for those services after all federal, state, and farebox revenues are applied. This means that the numbers of routes, service frequency, and service coverage areas as operated by Hampton Roads Transit are determined in each city during the annual budgetary cycle. Corporate timeline NOTE: This section begins with the introduction of rubber-tired buses to the transit operations in Hampton and Newport News, following many years of public transit service performed earlier and during the transition by horse-drawn and electrically powered streetcars utilizing rails embedded in the streets and roads of the area. Bus fleet The HRT fleet inventory as of January 2020, consisted of 294 vehicles, including 267 diesel buses, 37 hybrid buses and 10 trolley-style buses. The majority of the fleet, a total of 280 buses, were manufactured by Gillig and Novabus. The HRT fleet also includes 7 Novabus buses, 12 Optima buses and 10 Trolley-style buses manufactured by Chance. HRT acquired 11 Gillig hybrids in June 2011 to replace the Chance trolleys in the Summer of 2014. HRT has required to buy 7 Novabus which they are contracted to the Elizabeth River Crossings and to be using for Routes 44, 45 and 47. Hampton Roads Transit's Bus Fleet