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Request for Delay for Measure M2 CTFP Funds <br />March 21, 2023 <br />Page 2 <br />3 <br />3 <br />0 <br />8 <br />efforts to finalize the design phase of this project, additional time is required to finalize <br />the project plans and specifications before a construction contract can be awarded. <br />CTFP guidelines provide a one-time, two-year extension of Measure M2 CTFP funding, <br />which will allow sufficient time to complete the outstanding project preparations for <br />construction. Approval of this request will safeguard against a potential lapse in grant <br />funding. The table below summarizes the request: <br />FISCAL IMPACT <br />If the Recommended Action is not approved, the City will relinquish $4,546,590 in <br />awarded construction grant funding that will expire. <br />Submitted By: Nabil Saba, P.E., Executive Director – Public Works Agency <br />Approved By: Kristine Ridge, City Manager <br />Project Name Resolution for <br />Application <br />Funding <br />Amount <br />OCTA Board <br />Approval / <br />Programmed <br />FY <br />Extension <br />Request <br />Fairview Ave. <br />Improvements from 9th <br />Street to 16th Street <br />November 17, 2020 <br />Res. No. 2020-084 <br />$3,721,590 May, 2021 <br />FY 2022-23 <br />2-yr Time <br />Extension <br />Fairview St. Improvements <br />from Monte Carlo Dr. to <br />Trask Ave. <br />November 16, 2021 <br />Res. No. 2021-068 <br />$825,000 May, 2022 <br />FY 2022-23 <br />2-yr Time <br />Extension