Meeting_Body
REGULAR BOARD MEETING
DECEMBER 1, 2022
Preamble
Motion by:
DIRECTORS SOLIS, NAJARIAN, SANDOVAL, GARCETTI, AND BARGER
Transit and Intercity Rail Capital Program Cycle 6 Grant Application Motion #1
In June 2022, Assembly Bill 180 was approved providing a one-time allotment of $3.6 billion for Cycle 6 of the state's Transit and Intercity Rail Capital Program (TIRCP) with at least $900 million dedicated to "Existing TIRCP Projects" in Southern California that have previously received TIRCP grants and can demonstrate that a supplemental state grant would leverage or maintain an identified source of local or federal funding. Any funding not allocated to an Existing TIRCP Project in Southern California would then be made available for new TIRCP projects. Senate Bill 198 may also provide an additional $4 billion over fiscal years 2024 and 2025 to be allocated across the state via population-based formula. Grant applications for Existing TIRCP Projects are due on December 6, 2022 and awards for Existing TIRCP Projects are anticipated in January 2023.
Metro staff has evaluated the TIRCP Cycle 6 criteria and has identified/ranked three projects for submittal. Given uncertainty around how much funding will ultimately be secured by Metro under Cycle 6, Metro may encounter a situation where it receives partial funding for one or more of its projects. Should this occur, Metro should be prepared to provide a funding plan that closes any project funding shortfalls and ensures that Metro can utilize the awarded TIRCP funding within CalSTA's expenditure deadlines.
Subject
SUBJECT: Transit and Intercity Rail Capital Program Cycle 6 Grant Application Motion #1
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RECOMMENDATION
Title
APPROVE Motion by Directors Solis, Sandoval, Garcetti, and Barger that the Board of Directors direct the Chief Executive Officer to:
1. Report back to the Board in February 2023 with an update on the results of TIRCP Cycle 6 awards for Existing TIRCP Projects; and
2. Re...
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