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File #: 2017-0245   
Type: Project Status: Passed
File created: 4/3/2017 In control: Planning and Programming Committee
On agenda: 5/17/2017 Final action: 5/25/2017
Title: APPROVE amendment of the existing repayment schedule agreement between the County of Los Angeles (County) and the Los Angeles County Metropolitan Transportation Authority (LACMTA) for the State Route 126/Commerce Center Drive Interchange Improvement Project STP-L fund exchange, as shown in Attachment A.
Sponsors: Planning and Programming Committee
Indexes: Commerce, Construction, Gateway Cities (Southeast LA County) Service Sector, Interchanges, Payment, Project, Start of first construction
Attachments: 1. Attachment A - Amendment to Exchange Agreement, 2. Attachment B - 2011 Exchange Agreement for the SR-126 Commerce Center Drive Interchange Project
Meeting_Body
EXECUTIVE MANAGEMENT COMMITTEE
MAY 18, 2017


Subject/Action
SUBJECT: FEDERAL FUNDING EXCHANGE WITH LOS ANGELES COUNTY ON STATE ROUTE 126/COMMERCE CENTER DRIVE INTERCHANGE

ACTION: AMEND EXISTING REPAYMENT SCHEDULE WITH COUNTY OF LOS ANGELES OF FEDERAL FUNDS EXCHANGED WITH NON-FEDERAL FUNDS

Heading
RECOMMENDATION

Title
APPROVE amendment of the existing repayment schedule agreement between the County of Los Angeles (County) and the Los Angeles County Metropolitan Transportation Authority (LACMTA) for the State Route 126/Commerce Center Drive Interchange Improvement Project STP-L fund exchange, as shown in Attachment A.

Issue
ISSUE

The County is requesting to amend the repayment schedule for the balance remaining from the exchange of federal Surface Transportation Program-Local (STP-L) funds with non-federal funds for the State Route 126/Commerce Center Drive Interchange Project. Board approval is required in order to amend the existing agreement repayment schedule.
Discussion
DISCUSSION

On October 27, 2011, the Board approved an agreement (Agreement) between the County and LACMTA for the exchange of STP-L funds with non-federal funds. The Agreement (Attachment B) allowed the County to use up to $41 million of STP-L funds for the State Route 126/Commerce Center Drive Interchange Improvement Project. This in turn allowed Metro to negotiate agreements to exchange the non-federal funds as they become available with participating local agencies. This Agreement was developed to benefit smaller local agencies that can more efficiently and expeditiously utilize more flexible non-federal transportation funding, and to ensure that the County is able to draw down as much of the available STP-L funding as possible. The County agreed to repay $13 million on July 1, 2014 and up to $28 million on July 1, 2016.
On June 18, 2014, due to a project delay resulting from bird nesting season, the Board approved the County's request to amend the repaymen...

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