55E - RESO - STREETCAR ENVIR PLAN & DESIGNATE CM AS PROJ DIRECTOR

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Fixed-Guideway Policy Decisions Overview Page 4 The following factors would form the parameters in the development of this plan: The Local sales tax revenue from M2 Project S is anticipated to provide $ 1.3 billion in funding over the life of M2 and would need to take into account funding needs for other Project S-eligible projects, Including, but not limited to, ARC and the rubber-tire projects (Attachment B). The M2 ordinance states that "The Authorlty shall make every effort to maximize state and federal funding for Transit Projects," (Attachment C). Prior Board direction that the SAIGG Fixed - Guideway Project remain eligible for the FTNs New/Small Starts Program. Additionally, when evaluating the potential funding strategies, staff will consider the desire to deliver the benefits of the projects In the most expeditious manner possible while ensuring the most prudent use of M2 funds and leveraging its use to maximize state and federal funding sources. To support this effort, the New and Small Starts development processes (Attachment D) and funding requirements will be consulted and the timetrames refined as the funding plan Is developed. summary Staff will return to the Board within the next quarter with a proposed implementation plan for the SAIGG Fixed - Guideway Project with OCTA as the Implementing lead agency, as well as with a proposed financial plan that addresses the funding needs for both capital and ongoing operations and maintenance of the SAJGG Flied- Guideway Project. Attachments A. Fixed - Guideway Program: Decision Flow Diagrams B. Measure M2 Project S Description C, Measure M2 Ordinance Transit Projects Funding Language D. Draft Timeline: Santa Ana/Garden Grove Fixed-Guideway Project Prepared by: Approved by: Kelly Hart Jim Bell, P.E. Project Manager Executive Director, Capital Programs (714) 560-5725 (714) 560-5646 55E-20