Meeting_Body
AD HOC CONGESTION, HIGHWAY AND ROADS COMMITTEE
MARCH 20, 2019
Subject
SUBJECT: METRO EXPRESSLANES NET TOLL REVENUE GRANT PROJECTS
Action
ACTION: APPROVE RECOMMENDATION
Heading
RECOMMENDATION
Title
CONSIDER:
A. AUTHORIZING the Chief Executive Officer (CEO) to extend all in-progress Round 1 Net Toll Revenue projects' lapsing dates by one year. (Attachment A); and
B. APPROVING a total of $15,870,000 for continued Direct Annual Allocation for Transit Service on the I-110 and I-10 ExpressLanes in Fiscal Years 2019 and 2020 (FY2019-FY2020).
Issue
ISSUE
The Metro Board approved Round 1 of the Net Toll Revenue Program in July 2014 allocating $20.7 million in competitive grants to 21 projects. As of this date, 48% of the Round 1 funding has been expended with seven (7) projects completed and fourteen (14) in progress, having expended partial funds. Consistent with other discretionary grant programs approved by the Board, there is a timely use of funds provision requiring expenditure of funds within forty-two (42) months from the date the Grant Agreement is executed. As shown in Attachment A, some of the Round 1 projects are at risk of lapsing their funds. However, in light of good- faith efforts by the project sponsors and consistent with the Call for Projects process, staff is recommending a one-time, one (1) year extension from the current month and year of lapsing to all Round 1 projects.
Background
BACKGROUND
Gross toll revenues generated from the ExpressLanes are first used to cover the direct expenses related to the maintenance, administration, and operation of the lanes. The remaining revenue is then used to support incremental additional transit service on the ExpressLanes, and to maintain project reserves. The remaining balance is made available for freeway improvements and ExpressLanes related transportation improvement projects identified through a competitive grant program (Net Toll Revenue Grants).
In October 2013 th...
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