Coversheet


Agenda Item 3.3.5


TRANSPORTATION AGENCY FOR MONTEREY COUNTY *Memorandum*

To:	Board of Directors
From:	Madilyn Jacobsen, Transportation Planner
Meeting Date:	May 26, 2021
Subject:	Federal "RAISE" Grant Application for SR 68 Corridor

RECOMMENDED ACTION:
Rebuilding American Infrastructure with Sustainability and Equity AUTHORIZE staff to submit Rebuilding American Infrastructure with Sustainability and Equity grant application for the Scenic Route 68 Corridor Improvements project; and AUTHORIZE the Executive Director to accept grant funds, if awarded.

SUMMARY:

Applications to the Rebuilding American Infrastructure with Sustainability and Equity (RAISE) grant program are due July 12, 2021. To request support from the California Department of Transportation (Caltrans), staff must submit a request to Caltrans by June 4th, 2021. Agency staff is seeking Board authorization to pursue these grants to fund final design and construction of the Scenic Route 68 Corridor Improvements project.

FINANCIAL IMPACT:
The current estimated project cost is $114 million, with an estimated funding shortfall of $40 million. Staff anticipate requesting $25 million, which is the maximum award available through the RAISE Program. The Agency is planning to match the proposed Federal grant with state funding ($24,100,000) and Measure X ($50,000,000).

DISCUSSION:

The Rebuilding American Infrastructure with Sustainability and Equity, or RAISE Discretionary Grant program, provides a unique opportunity for the U.S. Department of Transportation (U.S. DOT) to invest in road, rail, transit and port projects that promise to achieve national objectives. Previously known as the Better Utilizing Investments to Leverage Development (BUILD) and Transportation Investment Generating Economic Recovery (TIGER) Discretionary Grants, Congress has dedicated nearly $8.9 billion for twelve rounds of National Infrastructure Investments to fund projects that have a significant local or regional impact.

The 2021 RAISE Grant continues to align with the U.S. DOT's infrastructure goal of guiding strategic investments to efficiently move people and goods. The 2021 RAISE Grant also highlights the Biden Administration's priorities to invest in national infrastructure projects that result in good-paying jobs, improve safety, apply transformative technology and explicitly address climate change and racial equity.

Eligible projects include capital investments in surface transportation that will have a significant impact on the local or regional transportation network. In addition to capital investments, RAISE has no more than $30 million for eligible planning or design grants that do not include construction, of which at least $10 million will be awarded to a project directly benefiting an area of persistent poverty.

Funding awarded through the 2021 RAISE Program will have an obligation of date of September 30, 2024, by when the recipient must have an executed agreement with the U.S. DOT. Awarded funds will have an expenditure date of September 30, 2029. The earliest construction could start for the Scenic Route 68 Corridor Improvement Project is 2025-26, depending on securing additional funds.

Grant applications for the 2021 RAISE Grant are due July 12, 2021.