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Resolution — Adoption of Measure M2 Year -End Expenditure Report by Resolution <br />December 15, 2020 <br />Page 2 <br />FISCAL IMPACT <br />Approval of the Recommended Action will maintain the City's eligibility to receive Measure M2 <br />funds annually. Upon renewal of Measure M2 eligibility, the City of Santa Ana is anticipated to <br />receive an estimated $4.2 million in LFS funds and over $13 million in M2 competitive grant funds <br />for Fiscal Year 2020-21. In the past, the City has received an average of $20 million in combined <br />annual revenue from M2 LFS and competitive fund program allocations. If the recommended <br />action is not approved, the City will lose Measure M2 LFS revenue, along with the ability to apply <br />for and receive future OCTA Comprehensive Transportation Funding Program competitive grant <br />funds. <br />Fiscal Impact Verified By: Kathryn Downs, CPA, Executive Director— Finance and Management <br />Services Agency <br />Submitted By: Nabil Saba, P.E., Executive Director — Public Works Agency <br />Exhibit: 1. Resolution <br />55E-2 <br />