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Adopt OCTA Funding Program Eligibility Requirements <br />December 19, 2023 <br />Page 2 <br />delineating the distribution of actual revenue and expenditures consistent with <br />Maintenance of Effort requirements. Adoption of the Measure M2 Annual Expenditure <br />Report by Resolution (Exhibit 2) is a required reporting element that must be submitted <br />within six months of the jurisdiction's fiscal year end. <br />Staff recommends that the City Council approve both Recommended Actions to <br />continue with the flow of M2 project funding, while maximizing grant compliance under <br />the grant eligibility requirements presented. <br />FISCAL IMPACT <br />Approval of the Recommended Action will maintain the City's eligibility to receive <br />Measure M2 funds annually. Upon renewal of Measure M2 eligibility, the City of Santa <br />Ana is anticipated to receive an estimated $6.7 million in LFS funds and potentially over <br />$30 million in M2 competitive grant funds for Fiscal Year 2023-24. In the past, the City <br />has received an average of $20 million dollars in combined annual revenue from M2 <br />LFS and competitive fund program allocations. If the Recommended Actions are not <br />approved, the City will lose Measure M2 LFS revenue, along with the ability to apply for <br />and receive future OCTA Comprehensive Transportation Funding Program competitive <br />grant funds. <br />EXHIBIT(S) <br />1. Measure M2 Year -End Expenditure Report <br />2. Resolution — M2 Year -End Expenditure Report <br />Submitted By: Nabil Saba, P.E., Executive Director — Public Works Agency <br />Approved By: Tom Hatch, Interim City Manager <br />