Meeting_Body
EXECUTIVE MANAGEMENT COMMITTEE
FEBRUARY 16, 2023
Subject
SUBJECT: TRANSIT AND INTERCITY RAIL CAPITAL PROGRAM CYCLE 6 GRANT AWARDS FOR EXISTING PROJECTS
Action
ACTION: RECEIVE AND FILE
Heading
RECOMMENDATIONS
Title
RECEIVE AND FILE the results of Transit and Intercity Rail Capital Program (TIRCP) Cycle 6 grant awards for "Existing TIRCP Projects Leveraging Federal & Local Funds Reserve" made by the California State Transportation Agency (CalSTA).
Issue
ISSUE
This report updates the Board of Directors about CalSTA's selection of projects for grant awards from the Cycle 6 "Existing TIRCP Projects Leveraging Federal & Local Funds Reserve" funding category that were announced on January 31, 2023.
Background
BACKGROUND
Last year's State Budget took advantage of the historic surplus by providing significant funding to public transit. It is important to note that this surplus reflects volatility in the state budget, and one year later, the State is facing a significant deficit. The budget agreement from last year included one-time funds that were actually allocated in the Budget. The budget agreement also included an indication that the Legislature intended to allocate additional funds in the following two budget cycles. The specifics of that funding are described in more detail below.
In response to this opportunity, the Board unanimously approved a program of projects that could take advantage of these funds. This program of projects represented grant opportunities across multiple budget cycles, not just the current year budget agreement. The surplus funding is supplemental to our core projects' budgets, and it does represent an opportunity to fund projects that might not exist in normal budget cycles. As discussed below, this structure was acted upon based on guidance from the State to demonstrate how our agency would utilize funds not just from the current year's budget but also from future cycles.
The following details the...
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