Meeting_Body
REVISED
REGULAR BOARD MEETING
JUNE 23, 2016
Subject/Action
SUBJECT: DRAFT LONG RANGE TRANSPORTATION PLAN FINANCIAL MODEL INFORMATION FOR THE POTENTIAL BALLOT MEASURE EXPENDITURE PLAN
ACTION: RECEIVE AND FILE
Heading
RECOMMENDATION
Title
RECEIVE AND FILE Financial Forecasting Model Information for the Potential Ballot Measure Expenditure Plan.
Issue
ISSUE
In April 2016, the Metro Board of Directors approved a motion by Directors Knabe, Dubois and Butts, instructing the CEO to "report to the Board with copies of the draft 'Financial Forecasting Model for the potential Ballot Measure Expenditure Plan' for review and discussion by the Board" at the May Board Meeting (Motion, Attachment A). In response to the Motion staff is providing the attached information about major transit and highway projects from the current Long Range Transportation Plan (LRTP) Financial Model (Attachment B), as compared with the Draft Potential Ballot Measure Expenditure Plan.
Discussion
DISCUSSION
The LRTP is a thirty-year action plan identifying project priorities and schedules for the region, including those approved through Measure R, last adopted in 2009. The next LRTP may be longer to better capture anticipated benefits of projects proposed through the potential ballot measure. The process for updating the LRTP is a multi-year effort that is anticipated to be complete in 2017.
The Financial Forecast Model Update (the Model) of costs and available resources for the LRTP projects is presented annually to include changing assumptions and current economic conditions. The last Financial Forecast Update was presented to the Board in June 2015. The Model has been updated and one copy is provided to each Board Office with this report. The public may view the Model online at https://media.metro.net/docs/LRTP_Financial_Forecast_Update_3-30-16.pdf. The development of the Potential Ballot Measure and its Draft Expenditure Plan is ongoing. Staff anticipa...
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