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Memorandum of Understanding for the Master Plan of Arterial Highways Amendment and <br />Irvine Business Complex Agreement Amendment <br />July 1, 2025 <br />Page 5 <br />Overcrossing and Dyer Road projects will be met. As part of this proposed agreement, <br />the City of Irvine will contribute their fair share towards the Dyer Road project prior to <br />thresholds being triggered. <br />Staff recommends approval of the amendment to the IBC Agreement with City of Irvine <br />(Exhibit 2). <br />ENVIRONMENTAL IMPACT <br />There is no environmental impact associated with this action. <br />FISCAL IMPACT <br />The two traffic signal improvements identified in the proposed MOU have been <br />identified in the City's Capital Improvement Program. At the time of construction <br />contract award, Staff will present recommendations to receive and appropriate the City <br />of Irvine fair share amounts for the projects. <br />The projects identified in the proposed IBC amendment will be programmed into a <br />future CIP and funded accordingly. At the time of design, right of way, and construction <br />contract awards, Staff will present recommendations to receive and appropriate the City <br />of Irvine fair share amounts for the projects. There is no fiscal impact at this time. <br />EXHIBIT(S) <br />1. Memorandum of Understanding <br />2. Irvine Business Complex Agreement Amendment <br />Submitted By: Nabil Saba, P.E., Executive Director — Public Works Agency <br />Approved By: Alvaro Nunez, City Manager <br />