TO: AC Transit Board of Directors
FROM: Michael A. Hursh, General Manager
SUBJECT: Residual RM2 Funds for BRT Project
ACTION ITEM
RECOMMENDED ACTION(S):
Title
Consider adoption of Resolution No. 20-038 authorizing the General Manager, or his designee, to submit an allocation request to the Metropolitan Transportation Commission (MTC) for Regional Measure 2 (RM2) Funds and execute any documents necessary for the East Bay Bus Rapid Transit (BRT) Project.
Body
STRATEGIC IMPORTANCE:
Goal - Financial Stability and Resiliency
Initiative - Financial Efficiency and Revenue Maximization
Continued grant funding for the BRT project is key to reducing the amount of debt the District must incur.
BUDGETARY/FISCAL IMPACT:
This action will allow the District to recoup $74,579 in RM2 funds that are left over from prior allocations. The funds will be used in place of line of credit funding and ultimately reduce the amount of debt the District must incur to complete the BRT project.
BACKGROUND/RATIONALE:
The RM2 capital project plan includes $77.8 million for a series of projects under Project #24.5 "Telegraph Avenue - International Boulevard Enhanced Bus". Approximately $20.7 million was spent on buses and infrastructure for the Telegraph Avenue Rapid service and the Uptown Transit Center. The remaining $57.7 million has been allocated to the current BRT Project. Prior to this action, staff thought that all available funds had been allocated.
A recent review of the invoicing and payments for the full project by MTC staff found $74,579 in funds remaining unspent from a prior allocation for the earlier Rapid Bus phase of the project. Staff is applying to use these funds on the current BRT project. While this would normally be an administrative action, Resolution No. 05-023 submitted for the original allocation in June of 2005 did not include a clause allowing for minor modifications by a designated agent of the Board (normally the General Manager). As such, staff ...
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