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Euclid Street Corridor Traffic Signal Synchronization <br />April 2, 2024 <br />Page 2 <br />4 <br />1 <br />4 <br />1 <br />The Measure M2 grant provides $4,961,013. The match commitments from the <br />participating cities will provide a combined total of $1,240,253. The City of Santa Ana’s <br />share of the matching funds is $113,827, of which $107,827 is cash and $6,000 is in- <br />kind staff support. <br />FISCAL IMPACT <br />Funds for the City’s share of the project cost are budgeted and available in the Measure <br />M2 Street Construction Fund (Account No. 03217662-66220; Project No. 23-6721) for <br />expenditure in the fiscal years identified in the following estimated spending plan: <br />Fiscal Year Accounting <br />Unit-Account <br /># <br />Fund <br />Description <br />Accounting Unit, <br />Account <br />Description <br />Amount <br />2023-24 <br />(April- June <br />2024 <br />03217662- <br />66220 <br />Measure M- <br />Street <br />Construction <br />Measure M2 Local <br />Fairshare St, <br />Improvements <br />Other Than <br />Building <br />$4,450 <br />2024-25 <br />(July 2024- <br />June 2025) <br />03217662- <br />66220 <br />Measure M- <br />Street <br />Construction <br />Measure M2 Local <br />Fairshare St, <br />Improvements <br />Other Than <br />Building <br />$104,217 <br />2025-26 <br />(July 2025- <br />June 2026) <br />03217662- <br />66220 <br />Measure M- <br />Street <br />Construction <br />Measure M2 Local <br />Fairshare St, <br />Improvements <br />Other Than <br />Building <br />$5,160 <br />Total:$113,827 <br />The current fiscal year funding is available in the FY 2023-24 budget and future fiscal <br />year funding will be included in the proposed budgets for City Council consideration. <br />EXHIBIT(S) <br />1. Project Location Map <br />2. Cooperative Agreement <br />Submitted By: Nabil Saba, P.E., Executive Director – Public Works Agency <br />Approved By: Tom Hatch, Interim City Manager