Subject
title
Capital Programming Update
overview
Overview
The Orange County Transportation Authority uses a combination of federal, state and local funding sources to plan and deliver Board of Directors-approved capital improvement and transit projects, including those promised in the voter-approved sales tax program, Measure M2. As projects advance through the various stages of development, funding sources and amounts are updated and adjusted to reflect the most current cost estimates and to maximize the benefit of local sales tax dollars. Board of Directors' authorization is requested to commit funding for current and planned projects as further described herein.
recommendation
Recommendation(s)
A. Authorize the use of up to $514.457 million to fund the construction phase of the State Route 55 Improvement Project from Interstate 5 to State Route 91 (Project F) and the State Route 91 Improvement Project from La Palma Avenue to State Route 55 (Segment 2) (Project I) using the following funding sources:
* 91 Express Lanes Excess Revenue ($323.726 million)
* Measure M2 ($180.090 million)
* Local Partnership Program - Formulaic ($6.641 million)
* Community Project Funding / Congressionally Directed Spending ($4.000 million)
B. Authorize the use of up to an additional $213.744 million to supplement the construction funding of four M2 freeway improvement projects, including one segment on Interstate 5 (Project B), two segments on State Route 91 (Project I), and an interchange on the Interstate 605 (Project M) from the following fund sources:
* Measure M2 ($133.909 million)
* 91 Express Lanes Excess Revenue ($79.835 million)
C. Authorize the inclusion of $31.781 million in committed State Highway Operations and Protection Program funds and an additional $30.239 million in uncommitted future state funds to integrate the California Department of Transportation Multi-Asset Project into the Capital Funding Program report for:
* Interstate 5 Improvement Project betwe...
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