Meeting_Body
FINANCE, BUDGET, AND AUDIT COMMITTEE
PLANNING AND PROGRAMMING COMMITTEE
APRIL 17, 2024
Subject
SUBJECT: CAP-AND-TRADE LOW CARBON TRANSIT OPERATIONS PROGRAM (LCTOP)
Action
ACTION: APPROVE RECOMMENDATION
Heading
RECOMMENDATION
Title
APPROVE the Resolution in Attachment A that:
A. AUTHORIZES the Chief Executive Officer (CEO) or their designee to claim a total of $54,230,499 in California Cap-and-Trade proceeds accumulated in State Fiscal Year (FY) 2023-24 disbursed through LCTOP and to use $50,941,838 for one year of E Line operations, as enhanced by the opening of Regional Connector, and $3,288,661 for the Division 8 Charging Infrastructure and En Route Charging for North San Fernando Valley (NSFV) Transit Corridor;
B. CERTIFIES that Metro will comply with LCTOP certification and assurances and the authorized agent requirements; and
C. AUTHORIZES the CEO or their designee to execute all required documents and any amendments with the California Department of Transportation (Caltrans).
Issue
ISSUE
The Low Carbon Transit Operations Program (LCTOP), a California Cap-and-Trade program established in 2014, provides operating and capital assistance funds to public transportation agencies to reduce greenhouse gas emissions and improve mobility, prioritizing projects serving disadvantaged communities, which are similar to Metro's Equity Focus Communities (EFC). The State issued the FY 2023-24 LCTOP Guidelines in February 2024 and requires agencies to claim these formula grant funds by April 26, 2024. A complete grant package includes an adopted Board resolution that provides recipient project information and certifies that Metro will comply with all LCTOP conditions and requirements. Therefore, staff seeks Board approval of the Resolution contained in Attachment A.
Background
BACKGROUND
The LCTOP, created by California Senate Bill 862 (2014), provides proceeds from California's Cap-and-Trade Program to support transit agency investment in ...
Click here for full text