SUBJECT
title
Authorizing the City Manager to submit a grant application in the amount of $8,680,778.44 to the Federal Transit Administration (FTA) for Fiscal Year 2024 Section 5307 Urbanized Area Formula authorized under the Bipartisan Infrastructure Law. The FTA grant share is $4,789,395.00 with a total local match of $3,891,383.44, broken down as follows: $3,592,046.25 for operating expense (50/50) and $299,337.19 for capital preventative maintenance (80/20). The grant funding will be used for El Metro’s operating and capital preventative maintenance assistance. Funding will be available in El Metro Operations Fund.
body
PREVIOUS COUNCIL ACTION
N/A
BACKGROUND
On April 4, 2024, FTA announced $20.5 billion in federal funding available to support public transportation throughout the country, the latest tranche of support made possible thanks to the Bipartisan Infrastructure Law. The funding to states, urbanized areas and tribal governments is based on statutory formulas set in law and represent a full year of federal support for transit.
COMMITTEE RECOMMENDATION
N/A
STAFF RECOMMENDATION
recommendation
Staff recommends approval of this resolution.
end
Fiscal Impact
Fiscal Year: 2024
Budgeted Y/N?: Y
Source of Funds: Grant Funds
Account #: 518
Change Order: Exceeds 25% Y/N: N/A
FINANCIAL IMPACT:
Funding will be available in the El Metro Operations Fund.