TO: AC Transit Board of Directors
FROM: Salvador Llamas, General Manager/Chief Executive Officer
SUBJECT: TIDA Funding Agreement
ACTION ITEM
AGENDA PLANNING REQUEST: ?
RECOMMENDED ACTION(S):
Title
Consider authorizing the General Manager or his designee to execute a funding agreement with the Treasure Island Development Authority (TIDA) to fund the purchase of zero emission buses through the Affordable Housing and Sustainable Communities (AHSC) grant program.
Staff Contact:
Chris Andrichak, Chief Financial Officer
Body
STRATEGIC IMPORTANCE:
Goal - Financial Stability and Resiliency
Initiative - Financial Efficiency and Revenue Maximization
The execution of this funding agreement allows AC Transit to receive $1,586,717 for Zero Emission Buses.
BUDGETARY/FISCAL IMPACT:
This item, allowing AC Transit to enter into a subrecipient agreement with the Treasure Island Development Authority (TIDA), enables AC Transit to receive $1,586,717 for the purchase of zero emission transit fleet vehicles from the AHSC program. These funds support planned bus purchases and do not commit or adversely impact District funds. AC Transit is a subrecipient of a 2019 AHSC grant award and under a separate agreement may provide transit service benefiting the grant recipients TIDA and Mercy Housing California. Any agreement is years away based on the Treasure Island development timeline and would need to come to the Board for approval.
BACKGROUND/RATIONALE:
Senate Bill 862 established a long-term funding framework and programmatic categories for California's Cap and Trade funding, including the AHSC program. The AHSC program is administered by the California Strategic Growth Council (SGC) and allocated by the California Department of Housing and Community Development (HCD) through their funding agreements.
The AHSC program was created to reduce greenhouse gas emissions by creating more compact infill development patterns, integrating affordable housing with sustai...
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