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<br />Comprehensive Transportation Funding Programs –Page 4 <br />2024 Call for Projects Programming Recommendations <br />The recommendations were presented to both the OCTA Technical Steering <br />Committee (TSC) and TAC in March 2024, and both committees voted to support <br />staff’s recommendations. The TSC and TAC asked questions related to the <br />difference between the funding target and the awards. The committees also <br />discussed working with staff to review the guidelines as part of the next funding <br />cycle in response to inflationary cost pressures, maintaining an aging roadway <br />network, and consideration for multimodal solutions. The funding target for each <br />year’s RCP and RTSSP call is established based on a cash flow estimate that <br />considers M2 revenues and existing awards. It also assumes the continuation of <br />annual calls into the future at a similar annual target. Any funds not awarded <br />simply stay in the cash flow in the same program for future years. This is relevant <br />because there appears to be a significant funding need, which may manifest within <br />the next two to five years based on capital improvement plans submitted by the <br />local jurisdictions. The M2 Ordinance requires M2 funds dedicated to specific <br />projects and programs, such as the RCP and RTSSP, to be used for its <br />voter-approved intent. The CTFP guidelines fulfill this commitment to the <br />taxpayers. Staff will work to provide the TAC with more details on near-term <br />anticipated projects, as well as a better understanding of the M2 voter <br />commitments and opportunities to address some of the current issues through <br />other means. <br />Next Steps <br />With Board approval of these recommendations, staff will initiate the execution <br />of letter agreements between OCTA and the appropriate local jurisdictions. As <br />these projects advance, staff will continue to monitor their status and project <br />delivery through the semi-annual review process. <br />Summary <br />Programming recommendations that will award $31.61 million to 11 projects in <br />M2 2024 RCP and RTSSP funds are presented for Board approval. <br />  <br />  <br />City Council 12 – 13 4/1/2025