Meeting_Body
PLANNING AND PROGRAMMING COMMITTEE
OCTOBER 18, 2023
Subject
SUBJECT: METRO EXPRESSLANES NET TOLL REVENUE REINVESTMENT EXPENDITURE PLAN - ROUND 3
Action
ACTION: APPROVE RECOMMENDATIONS
Heading
RECOMMENDATION
Title
APPROVE the following actions for Round 3 of the Metro ExpressLanes Net Toll Revenue Reinvestment Grant Program, in the amount of $124,800,000:
A. A total of $14,510,000 to Caltrans for improvements to the I-10 and I-110 freeway corridors (list of improvements provided in Attachment A);
B. The I-10 recommended projects and funding awards totaling $28,674,440 and program $1,266,035 which includes $920,475 from Round 2, in reserve for the corridor as shown in Attachment B;
C. The I-110 recommended projects and funding awards totaling $36,284,255 and program $8,328,355 which includes $1,082,560 deobligated from Round 1, in reserve for the corridor as shown in in Attachment C;
D. A total of $6,000,000 to be deposited into Reserve Accounts - $2,400,000 for the I-10 and $3,600,000 for the I-110 to address unforeseeable operational issues;
E. A total of $31,740,000 for continued incremental Transit Service improvements (see Attachment D);
F. ADMINISTER the grant awards and Transit funding with the requirement that funding recipients bear all responsibility for any cost increases;
G. AUTHORIZE the Chief Executive Officer (CEO) or their designee to enter into funding agreements with grantees and Transit service providers; and
H. AUTHORIZE the Chief Executive Officer (CEO) or their designee to enter into the funding agreement with Caltrans for ongoing operations and maintenance (O&M) of the Metro ExpressLanes and other state highway system improvements within the I-10 and I-110 corridors as shown in Attachment E.
Issue
ISSUE
State law requires that net toll revenues generated from the Metro ExpressLanes be reinvested in the corridor from which they were derived, pursuant to an approved expenditure plan. In April 2023 the Board...
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