Title
Approve and Authorize the Director of Public Works, Facilities and Parks (PWFP) to execute a three-year retroactive Master Funding Agreement between the Transportation Agency of Monterey County (TAMC) and the County of Monterey for Regional Surface Transportation Program (RSTP) Exchange Funds, Transportation Development Act 2%, and Regional Development Impact Fee (RDIF) funds for County projects, from April 22, 2023, to April 22, 2026.
Report
RECOMMENDATION:
It is recommended that the Board of Supervisors Approve and Authorize the Director of Public Works, Facilities and Parks (PWFP) to execute a three-year retroactive Master Funding Agreement between the Transportation Agency of Monterey County (TAMC) and the County of Monterey for Regional Surface Transportation Program (RSTP) Exchange Funds, Transportation Development Act 2%, and Regional Development Impact Fee (RDIF) funds for County projects, from April 22, 2023, to April 22, 2026.
SUMMARY:
The attached Master Agreement (Agreement) between the TAMC and the County of Monterey details state requirements for Regional Surface Transportation Program (RSTP) funds, Transportation Development Act 2% (TDA 2%) funds, and Regional Development Impact Fee (RDIF) funds and other fiscal provisions required to comply with State and Federal regulations. Said Agreement is required for County to receive these funds that will be used to help fund Capital projects as established in the County 5-year Capital Improvement Plan (CIP). RSTP funds are reimbursable and are subject to audit by an independent certified public accountant and by the State of California.
The Master Agreement is updated every three (3) years. The previous Master Agreement was dated April 22, 2020 and expired on April 22, 2023. Therefore, a new agreement is needed.
DISCUSSION:
Under the federal Surface Transportation Program (STP), federal gas tax dollars are apportioned to states for roads, transit, non-motorized and other transportation needs....
Click here for full text