Title
Escalation Rate Adjustments Recommendations for Prior Regional Capacity Program and Regional Traffic Signal Synchronization Program Allocations
Overview
Overview
The Orange County Transportation Authority’s Regional Capacity Program and Regional Traffic Signal Synchronization Program allocate Measure M2 streets and roads funds for roadway and signal improvement projects through a competitive process. Due to recent extraordinary inflationary pressures, the Board of Directors authorized staff to accept escalation adjustment requests from local jurisdictions for existing project commitments that meet certain criteria. Staff has evaluated these requests, and a list of eligible projects with recommended one-time escalation adjustments is presented for Board of Directors’ review and approval.
Recommendation(s)
Recommendations
A. Approve one-time construction escalation adjustments to four previously approved (2020, 2021) Regional Capacity Program projects in the amount of $2,751,877, increasing the overall Measure M2 award from $13,905,846 to $16,657,723.
B. Approve one-time construction escalation adjustments to four previously approved (2020, 2021) Regional Traffic Signal Synchronization Program projects in the amount of $1,599,615, increasing the overall Measure M2 award from $9,377,300 to $10,976,915.
C. Approve a one-time right-of-way escalation adjustment to one previously approved 2018 Regional Capacity Program project in the amount of $1,410,134, increasing the overall Measure M2 award from $7,494,000 to $8,904,134.
D. Approve a modification to the Temporary Policy to apply escalation to Project O Regional Capacity Program and Project P Regional Traffic Signal Synchronization Program prior allocation related to right-of-way requirements.