TITLE
Recommendation to authorize City Manager to execute an agreement with Los Angeles County for the exchange of City Surface Transportation Program-Local funds for County Gasoline Tax funds. (Citywide)
DISCUSSION
The Public Works department is aggressively working on completing street resurfacing projects included in the approved FY 07 Capital Improvement Program budget.
Projects within the approved budget are funded by a variety of sources, including state gasoline taxes, Proposition C funds, and federal gas tax allocations known as STP-L funds. Like Proposition C funds, which can only be used on streets that accommodate fixed transit routes, STP-L funds can only be used on streets designated on maps by the Federal Highway Administration and are generally limited to major arterials. In addition, the approval process for the expenditure of STP-L funds is very lengthy and complicated.
The Los Angeles County Department of Public Works has several projects that could readily utilize the STP-L type of funding and on this basis has agreed to exchange $600,000 of the City's STP-L fund balance with an equal amount of their less restrictive state allocated gasoline tax funds. This exchange would allow the City to expedite street resurfacing projects that would otherwise be significantly delayed.
This matter was reviewed by Deputy City Attorney Lori A. Conway on January 22, 2007, and Budget Management Officer David Wodynski on January 25, 2007.
TIMING CONSIDERATIONS
City Council action on this matter is requested on February 6,2007, to initiate the requested fund exchange with Los Angeles County Department of Public Works.
FISCAL IMPACT
This one-far-one exchange of funds will take place within the Gas Tax Street Improvement Fund (SR 181). Therefore, no increase or decrease at the fund or program level is required.
SUGGESTED ACTION
Approve recommendation.
Respectfully Submitted,
NAME CHRISTINE F. ANDERSEN |
APPROVED: |
TITLE DIRECTOR OF PUBLIC WORKS |
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GERALD R. MILLER |
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CITY MANAGER |