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Item 29 - AA to Recognize Additional Measure M2 Regional Capacity Program Funds
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Item 29 - AA to Recognize Additional Measure M2 Regional Capacity Program Funds
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2/28/2024 5:02:41 PM
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Agenda Packet
Agency
Public Works
Item #
29
Date
2/20/2024
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MINUTES <br /> Technical Advisory Committee <br /> <br /> <br /> <br />Ms. Cardoso clarified that the letter that OCTA would send out would not be a <br />formal approval but would state that projects may begin at risk of the Board’s <br />approval. <br /> <br />Ms. Alacar reported on the status of the 2023 CTFP Project O and Project P call <br />for projects. In the 2023 call, OCTA received 12 applications requesting a total of <br />$50 million. The $50 million total includes six reapplications. The previous total <br />allocation of the six projects that reapplied was approximately $27 million. Per <br />temporary policy changes approved by the Board, that amount would be in addition <br />to the 2023 CTFP Project O and Project P call capacity of $45 million. <br /> <br />Ms. Alacar stated that the total call capacity would be $71.6 million including the <br />additional funding from the cancelled projects assuming the six projects that had <br />applied for reapplication are granted and approved by the Board. <br />Ms. Lai asked for clarification on the total fund amount. <br /> <br />Ms. Alacar stated that call capacity was $45 million, and the 6 reapplications add <br />an additional $27 million, resulting in a total $72 million call capacity. <br /> <br />Ms. Alacar stated that staff is currently reviewing applications and technical <br />memos. Local agencies can expect to hear back in the coming weeks. OCTA <br />anticipates having programming recommendations ready for Board approval in <br />late spring, also going to the TAC and TSC in the February or March timeframe. <br />She added that OCTA is on schedule to let the agencies that reapplied if they will <br />be awarded a higher funded amount. <br /> <br />Ms. Bourgeois asked if the call capacity is in excess or short of the total application <br />amount. <br /> <br />Ms. Alacar clarified that the call capacity is in excess of the application amount. If <br />all applications were approved. <br /> <br />Mr. Sethuraman asked if projects that reapplied can keep their original grant in the <br />event that they are not awarded. <br /> <br />Ms. Alacar confirmed that projects that reapplied and are not awarded will be able <br />to keep their original grant. <br /> <br />Ms. Alacar reported on the other component of the temporary policy changes, cost <br />escalation adjustments. OCTA received 10 requests from 6 lead agencies. Four of <br />the requests are for Project P grants, three of which are OCTA lead. The remaining <br />six requests are for Project O grants.
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