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Resolution – FY 2023-24 Measure M2 CTFP Grant Applications <br />December 20, 2022 <br />Page 2 <br />3 <br />0 <br />9 <br />7 <br />Staff is requesting authorization to cancel previous construction funding that is no longer <br />sufficient for project delivery, and re-apply for grant funding based on updated cost <br />estimates for the following projects: <br />RECOMMENDED PROJECTS CTFP <br />TYPE PHASE GRANT <br />REQUEST FY <br />Bristol St. Improvements from Civic <br />Center Dr. to Washington Ave.ACE Construction $5,444,992 23-24 <br />Bristol St. Improvements from Warner <br />Ave. to St. Andrew Pl.ACE Construction $12,227,342 23-24 <br />Warner Ave. Improvements from Oak <br />St. to Grand Ave.ACE Construction $11,711,674 23-24 <br />Bristol St. and Memory Lane <br />Intersection Improvements ICE Construction $1,423,740 23-24 <br />Given the need for the street improvements and the project eligibility requirements <br />defined by OCTA, staff recommends that the City Council adopt the Resolution <br />authorizing submittal of the CTFP application for funding consideration, as well as direct <br />staff to incorporate approved projects into the FY 2023-24 Seven-Year CIP. <br />ENVIRONMENTAL IMPACT <br />There is no environmental impact associated with the action. <br />FISCAL IMPACT <br />There is no fiscal impact associated with this action at this time. The City will recognize <br />grant award revenue inclusive of required City local match through future Council action <br />during the FY 2023-24 CIP budget programing cycle. In the event all four of the <br />recommended projects are awarded in the 2023 CTFP Call for Projects, the table below <br />provides a breakdown of the total potential funding for the identified projects: <br />RECOMMENDED <br />PROJECTS PHASE <br />CTFP GRANT <br />FUNDS <br />(AU #03217663) <br />CITY MATCH <br />FUNDS*FY <br />Bristol St. <br />Improvements from <br />Civic Center Dr. to <br />Washington Ave. <br />Construction $5,444,992 $2,803,008 23-24 <br />Bristol St. <br />Improvements from <br />Warner Ave. to St. <br />Andrew Pl. <br />Construction $12,227,342 $6,568,658 23-24 <br />Warner Ave. <br />Improvements from <br />Oak St. to Grand <br />Ave. <br />Construction $11,711,675 $3,903,891 23-24