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Title
OC Streetcar Project Supplemental Contingency
Overview
The Orange County Transportation Authority is currently underway with the implementation of the OC Streetcar project. Board of Directors’ approval is requested to provide additional funding to supplement the contingency for the project.
Recommendation(s)
A. Authorize the use of up to an additional $7.32 million in Measure M2 funds and up to $8.29 million in additional Federal Congestion Mitigation and Air Quality Improvement Program funds to supplement the contingency for the OC Streetcar project. Along with other previously-approved funding adjustments of $70,000, this will increase the Federal Transit Administration Full Funding Grant Agreement funding from $407.76 million to $423.44 million, with use of federal funds contingent on Federal Transit Administration approval.
B. Authorize staff to process all necessary amendments to the Federal Transportation Improvement Program and execute or amend all necessary agreements to facilitate the above action.