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Please note: this meeting's minutes have not been finalized yet. Actions taken on legislation and their results are not available.
Meeting Name: Finance, Budget and Audit Committee Agenda status: Final
Meeting date/time: 9/16/2020 1:30 PM Minutes status: Draft  
Meeting location: Virtual Online Meeting Watch online: http://boardagendas.metro.net OR Listen by phone: Dial +1 (877) 422-8614 and enter extension 3489884#
Comments can be made via: Web: http://boardagendas.metro.net Email by 5PM the day before the meeting: jacksonm@metro.net Post Office Mail: Board Secretary's Office One Gateway Plaza MS: 99-3-1 Los Angeles, CA 90012
Published agenda: Agenda Agenda Published minutes: Not available  
Meeting video: eComment: Not available  
Attachments:
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2020-0459 5.AgreementAUTHORIZE the Chief Executive Officer (CEO) to execute a lease agreement with Wetzel’s Pretzels (“Wetzel’s”) for Kiosk K-1 in Union Station West and a vending cart located in the East Portal at a monthly rent of $28,292 with annual increases of three-percent (3%), plus common area maintenance fees, eight-percent (8%) of gross sales above the natural breakpoint, as well as provisions related to COVID-19 for an initial term of five-years and a tenant-initiated five-year extension at fair market value.   Not available Not available
2020-0460 6.AgreementAUTHORIZE the Chief Executive Officer (CEO) to execute a lease agreement with Cilantro Fresh Mexican Grill for Kiosk K-5 at Los Angeles Union Station at a monthly rent of $5,100 with annual increases based on CPI of no less than three-percent (3%) and no more than five-percent (5%), exclusive of common area maintenance fees, gross sales rent of eight-percent (8%) above the natural breakpoint, as well as provisions related to COVID-19 for an initial term of five years with a tenant-initiated five-year extension at fair market value.   Not available Not available
2020-0567 8.ProgramAUTHORIZE the Chief Executive Officer to renew existing group insurance policies covering Non-Contract and AFSCME employees, including the life and disability coverage for Teamster employees, for a one-year period beginning January 1, 2021.   Not available Not available
2020-0265 9.Formula Allocation / Local ReturnAUTHORIZE the Chief Executive Officer to negotiate and execute all necessary agreements between Los Angeles County Metropolitan Transportation Authority (LACMTA) and the Cities for their Capital Reserve Accounts as approved; and: A. ESTABLISH Proposition A Local Return funded Capital Reserve Account for the Cities of Industry and Lynwood B. ESTABLISH Proposition C Local Return funded Capital Reserve Account for the Cities of Beverly Hills, Manhattan Beach, Pomona, Redondo Beach, San Marino, and Whittier C. AUTHORIZE a one-time, one year extension of Local Return funds allocated in FY20 or previously, as a result of the COVID-19 pandemic.   Not available Not available
2020-0522 10.Public HearingCONSIDER: A. ADOPTING the proposed FY21 Budget as presented in the budget document (provided in a separate transmittal and posted on metro.net); 1. AUTHORIZING $6.0 billion annual consolidated expenditures to achieve goals and objectives set forth by the Board adopted Metro Vision 2028 strategic plan; and 2. AUTHORIZING a total of 10,219 FTEs with 8,482 Represented FTEs and 1,737 Non-Represented FTEs which did not change from FY20 authorized levels; and 3. APPROVING the Life of Project (LOP) budgets for new capital projects with LOP exceeding $5.0 million presented in Attachment A; and 4. AMENDING the proposed budget to include $165.2 million for Gold Line Foothill Extension 2B for a total of $265.2 million, finalized after budget closed; and B. APPROVING the Reimbursement Resolution declaring Metro’s intention to issue debt in FY21 for capital projects, as shown in Attachment B, with the provision that actual debt issuance will require separate Board approval.   Not available Not available
2020-0548 11.Informational ReportCONSIDER: A. APPROVING $2.1 billion in FY 2021 Transit Fund Allocations for Los Angeles County jurisdictions, transit operators and Metro operations as shown in Attachment A. These allocations comply with federal, state and local regulations and LACMTA Board approved policies and guidelines; B. APPROVING fund exchanges in the estimated amount of $2,813,249 of Metro’s TDA Article 4 allocation with Municipal Operators’ shares of Low Carbon Transit Operations Program. Funding will be adjusted based on LCTOP actual allocations; C. APPROVING fund exchanges in the estimated amount of $267,928 of Metro’s Prop C 40% allocation with Antelope Valley’s shares of Low Carbon Transit Operations Program. Funding will be adjusted based on LCTOP actual allocations; D. APPROVING fund increases from $6.0 million to $9.0 million in FY 2021 for Tier 2 Operators. This allocation includes CARES ACT Equivalent Supplemental Funding as approved by the LACMTA Board of Directors; E. APPROVING the execution of local funding exchanges as appropriate in order to implement the Board approved CARES Act allocatio   Not available Not available
2020-0547 12.BudgetCONSIDER: A. APPROVING local funding request for Access Services (Access) in an amount not to exceed $97,564,167 for FY21. This amount includes: • Local funds for operating and capital expenses in the amount of $95,245,337; • Local funds paid directly to Metrolink for its participation in Access’ Free Fare Program in the amount of $2,318,830; and B. AUTHORIZING the Chief Executive Officer (CEO) to negotiate and execute all necessary agreements to implement the above funding programs.   Not available Not available
2020-0568 13.ProgramA. APPROVING the Los Angeles County Metropolitan Transportation Authority’s (“Metro”) share of the Southern California Regional Rail Authority’s (SCRRA operated as “Metrolink”) FY 2020-21 Budget Transmittal dated July 24, 2020, in the amount of $129,089,000 as detailed in Attachment A; B. REPROGRAMMING $2,018,016 in surplus FY14, FY15, FY16 and PTIMSEA state of good repair and capital funds to fund a portion of Metro’s share of Metrolink’s FY 21 rehabilitation program; C. REPROGRAMMING up to $7,000,000 in cost savings from the FY19 and FY20 state of good repair and capital funds to fund a portion of Metro’s share of Metrolink’s FY 21 rehabilitation program detailed in Attachment B as first priority as additional funding for reprogramming becomes available; E. APPROVING programming additional funding for the acquisition of new Metrolink Ticket Vending Devices in the amount of $1,599,242 to fund Metro’s remaining share of the total project budget totaling $9,673,242; F. APPROVING the FY21 Transfers to Other Operators payment rate of $1.10 per boarding to Metro and an EZ Pass reim   Not available Not available
2020-0599  Informational ReportRECEIVE General Public Comment   Not available Not available