Meeting_Body
AD HOC CONGESTION REDUCTION COMMITTEE JANUARY 20, 2016
Subject/Action
SUBJECT: METRO EXPRESSLANES ROUND 2 NET TOLL REVENUE GRANT APPLICATION PACKAGE
ACTION: APPROVE RECOMMENDATION
Heading
RECOMMENDATION
Title
APPROVE the Metro ExpressLanes Round 2 Net Toll Revenue Grant Applications (Attachments B and C).
Issue
ISSUE
State law requires the net toll revenues generated from the Metro ExpressLanes be invested in the corridor from which they were derived, pursuant to an approved expenditure plan. In October 2015 the Board approved the guidelines (Attachment D) for allocation of net toll revenue. As part of this allocation, funding was approved for a grant program which includes three (3) transportation funding categories - Transit Uses; System Connectivity/Active Transportation; and Roadway Improvements. The application package requires Board approval prior to solicitation of grant proposals from local agencies.
Discussion
DISCUSSION
The generation of net toll revenues from the ExpressLanes offers a unique opportunity to advance the Long Range Transportation Plan (LRTP) and Los Angeles County Metropolitan Transportation Authority's (Metro) goals for a more sustainable multi-modal countywide transportation system. To further advance these goals, staff initiated and the board approved Round 1 of the Net Toll Revenue Reinvestment Program in 2014.
In October 2015, the Board approved the Round 2 guidelines delineating the method by which Metro will disburse the net toll revenues based on six reinvestment principles. Three of the re-investment principles are direct set-asides (Reserve Fund, Transit Operations, and Caltrans set-aside), which are not part of the Grant Program.
Net of the set-asides, the Grant Program allocates surplus revenues among three funding categories: 1)Transit Uses, 2)System Connectivity/Active Transportation, and 3)Ro...
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