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Cooperative Agreement for Bristol Street <br />Traffic Signal Synchronization Project <br />April 21, 2015 <br />Page 2 <br />City of Santa Ana's share of the matching funds is $254,835, of which $223,450 is a cash match and <br />$31,385 is staff support. <br />In the Fiscal Year 2013/2014 Capital Improvement Program (CIP), Council approved the Main Street <br />Corridor Traffic Signal Synchronization (Main Street Synchronization) project in the amount of $1,212,000, <br />funded with $962,000 in OCTA Measure M2 competitive grant funds and $250,000 in Measure M2 fair <br />share matching funds. However, due to local business concerns that the project might increase speeding <br />in the South Main area, the project was withdrawn. Speeding concerns on Main Street will be addressed <br />in a subsequent Safe Mobility study and traffic volumes will be re- evaluated before finalization of the <br />Circulation Element update. The $250,000 in matching funds that had been budgeted for the Main Street <br />Synchronization project will be reallocated to the Bristol Street Synchronization project. <br />STRATEGIC PLAN ALIGNMENT <br />Approval of this item supports the City's efforts to meet Goal #6 Community Facilities & Infrastructure, <br />Objective #1 (establish and maintain a Community Investment Plan for all City assets), Strategy B <br />(equitably maintain existing streets and associated assets in a state of good repair so they are clean, safe <br />and aesthetically pleasing for all users). <br />ENVIRONMENTAL IMPACT <br />There is no environmental impact associated with this action. <br />FISCAL IMPACT <br />With the deletion of the Main Street Corridor Traffic Signal Synchronization project from the FY 13/14 CIP, <br />$250,000 in Measure M2 Local Fairshare funds will be available for reallocation to the Bristol Street <br />Corridor Traffic Synchronization Project. The appropriation adjustment rescinds the appropriation of <br />Measure M2 Competitive funding for the Main Street Synchronization project by decreasing the allocation <br />of $962,000 in the Measure M Street Construction revenue account (03217002- 52332) and in the <br />corresponding Measure M2 Competitive Street expenditure account (03217663- 66220, Project 14- 6816), <br />1,r Fred Mousavipour ` <br />Executive Director <br />Public Works Agency <br />FM:EWG:vn <br />Exhibit: 1. Cooperative Agreement <br />APPROVED A$ TO FUNDS AND ACCOUNTS: <br />Executive Director` <br />Finance & Management Services Agency <br />20A -2 <br />