Meeting_Body
PLANNING AND PROGRAMMING COMMITTEE
JUNE 19, 2019
Subject
SUBJECT: FEDERAL FUNDING EXCHANGE WITH COUNTY OF LOS ANGELES ON STATE ROUTE 126/COMMERCE CENTER DRIVE INTERCHANGE PROJECT
Action
ACTION: APPROVE RECOMMENDATIONS
Heading
RECOMMENDATION
Title
APPROVE the amendment of the repayment schedule of federal Surface Transportation Program-Local (STP-L) funds with non-federal funds in the Exchange Agreement between the County of Los Angeles (County) and the Los Angeles County Metropolitan Transportation Authority (Metro) for the State Route 126/Commerce Center Drive Interchange Project, as shown in Attachment A.
Issue
ISSUE
The County is requesting to amend the repayment schedule for the balance remaining from the exchange agreement of federal 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. Otherwise, the County would be in default with the terms of the Exchange Agreement and would not be able to bill Caltrans for reimbursement and complete project close-out.
Background
BACKGROUND
In October 2011, the Board approved the Exchange Agreement, which mainly allowed: i) the County to use up to $41 million of STP-L funds for the Project; ii) Metro to negotiate agreements to exchange the non-federal funds, as they become available from the repayment by the County, with participating local agencies that can more efficiently and expeditiously utilize more flexible non-federal transportation funding; and iii) the County to draw down as much of its STP-L funding balance as possible to avoid lapsing. The County agreed to repay $13 million on July 1, 2014 and up to $28 million on July 1, 2016. Due to project delays, the Board approved three requests by the County to amend the repayment schedule.
Discussion
DISCUSSION
Although the project was substantially completed in 2017, an additional amendment to the...
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