Title
Receive status update from the Transportation Agency of Monterey County (TAMC) on funding for regional roadway projects, including Measure X and Senate Bill 1 gas tax.
Report
RECOMMENDATION:
It is recommended that the Board of Supervisors receive a report from the Transportation Agency of Monterey County (TAMC) on funding for regional roadway projects, including Measure X and Senate Bill 1 gas tax.
SUMMARY/DISCUSSION:
On August 22, 2018, the Transportation Agency of Monterey County (TAMC) Board of Directors received a Regional Project Funding Update (TAMC report, Attachment A). TAMC requested to make a presentation to the Board of Supervisors. Funds received through Measure X and SB1 are incorporated into the County Road Fund (Fund 002) and managed by the Resource Management Agency (RMA). For fiscal year 2018-2019 (FY 2018/19) RMA estimates receiving about $13,993,134 from these funding sources. Measure X funding was approved for 30 years, and is based on sales tax revenues. SB1 funding was approved by the State Legislature (Attachment B), but is in question pending a repeal initiative on the November ballot (Proposition 6). Certain projects were promised to be considered if Measure X passed, so RMA is working those proposed projects into the workload as funding is available (e.g. River Road). Attachment C is the project list that was submitted as required for these funding sources in FY 2018/19.
OTHER AGENCY INVOLVEMENT:
RMA has coordinated with TAMC to prepare information for this report.
FINANCING:
The FY 2018-19 Budget includes appropriations funded from Measure X and SB1 of $5,484,774 and $4,850,842, respectively. The County's total estimated revenue from these two sources in FY 2017-18 is $6,209,059 Measure X and $7,784,075 SB1. At the end of the fiscal year, funds received in excess of expenditures are set aside in restricted fund balance for future use.
BOARD OF SUPERVISORS STRATEGIC INITIATIVES:
Both funding sources (Measure X and ...
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