TO: AC Transit Board of Directors
FROM: Michael A. Hursh, General Manager/Chief Executive Officer
SUBJECT: Application for Fiscal Year 2022-23 LCTOP Funds
ACTION ITEM
AGENDA PLANNING REQUEST: ?
RECOMMENDED ACTION(S):
Title
Consider adoption of Resolution No. 23-014 authorizing the General Manager or his designee to file and execute applications and funding agreements with the California Department of Transportation (Caltrans) for allocations of the FY 2022-23 Low Carbon Transit Operations Program (LCTOP) funds for Tempo operating assistance and the MacDonald Avenue Transit Signal Priority Phase 1 project to provide Certifications and Assurances, and assign the General Manager, or his designee, as the Authorized Agent for the LCTOP.
Staff Contact:
Chris Andrichak, Chief Financial Officer
Body
STRATEGIC IMPORTANCE:
Goal - Financial Stability and Resiliency
Initiative - Financial Efficiency and Revenue Maximization
These LCTOP funds will support the operating and capital budgets
BUDGETARY/FISCAL IMPACT:
The District's revenue-based allocation is $6,551,410 and the Transit Performance Initiative-Investment (TPI-Investment) allocation is $1,262,566 for a total of $7,813,976.
Staff anticipates receiving the LCTOP allocations by July 2023. There is no matching requirement for these funds. The funding will be included in the FY2023-24 Operating Budget and Capital Budget.
BACKGROUND/RATIONALE:
The LCTOP program is administered by Caltrans and is funded by auction proceeds from the California Air Resource Board's (CARB) Cap and Trade Program, with proceeds distributed to transit operators on an annual basis using the State Transit Assistance (STA) formula.
The District is eligible to receive two allocations this fiscal year: one that comes directly to the District based on eligible revenues; and another that is programmed to the District by the Metropolitan Transportation Commission (MTC) as part of the TPI-Investment Program. These are not comp...
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