Several of the strategic goals identified by the Transportation Agency Board of Directors are to deliver the Measure X regional program of projects, while strategically utilizing debt financing to expedite delivery, and leveraging as much matching funds as possible. With the passage of California Senate Bill 1 (Beall), several new transportation funding programs were created from which the Transportation Agency will potentially be able to leverage Measure X and other existing fund sources. To ensure coordination between the various fund sources, which all have different requirements and eligibility, the Transportation Agency prepared a proposed 2017 Integrated Funding Plan (Attachment 1) that coincides with the 2018 State Transportation Improvement Program cycle. The 2017 Integrated Funding Plan is designed to identify projects that will be strong candidates for specific matching fund programs, and to identify a funding pathway to bring projects to construction over the next five years. A draft Integrated Funding Plan project list was presented to the Transportation Agency at the October 25, 2017 Board of Directors meeting. The attached project list modifies the draft project list based on Board member comments and subsequent new project or funding information.
The primary sources of funding included in the 2017 Integrated Funding Plan are the regional share of Measure X, Monterey County's regional share of the State Transportation Improvement Program, and the various Senate Bill 1 formula and grant funding programs. Each of these different funding components have reports or applications that the Agency is required to prepare in order to program the funding. The reports and applications are described as follows:
2018 Regional Transportation Improvement Program:
The Regional Transportation Improvement Program (RTIP) is a program of highway, local road, transit and active transportation projects that a region plans to fund with State and Federal revenue programmed by the California Transportation Commission in the State Transportation Improvement Program (STIP). The RTIP is developed biennially by the regions and is due to the Commission by December 15 of every odd numbered year.
Monterey County’s 2018 Regional Transportation Improvement Program reflects TAMC’s dedication to improving statewide and regional travel by constructing high-priority highway, regional road, rail, and bicycle and pedestrian transportation projects throughout the region. To that end, the Transportation Agency selected projects to program in the 2018 Regional Transportation Improvement Program that are either ready for construction or moving quickly through pre-construction phases; are regional priority projects in Measure X with multimodal features; are in the adopted or draft Sustainable Communities Strategy; and are excellent candidates for the Senate Bill 1 grant programs. The Executive Summary and Board resolution to adopt the 2018 Regional Transportation Improvement Program are included as Attachment 2, with the full document included as a web attachment.
Measure X Strategic Expenditure Plan:
Starting in May of 2015, the Transportation Agency engaged in a public outreach effort to inform the public about our transportation needs, funding challenges and the self-help option. The Transportation Agency for Monterey County placed the Transportation Safety & Investment Plan (Measure X) on the November 8, 2016 ballot and the measure was approved with 67.7% approval from Monterey County voters. The measure is anticipated to generate an estimated $20 million annually for a total of $600 million over thirty years through a retail transactions and use tax of a three-eighths’ of one-percent (3/8%).
The Policies and Project Descriptions for Measure X identified which projects and programs will receive Measure X revenue, and the amounts they will receive, but not the dates they will receive these funds. Recognizing that not all $600 million in projects can be delivered at the outset of the program, the Measure X Polices and Project Descriptions document requires that the Transportation Agency for Monterey County adopt a Strategic Plan that prioritizes the projects and establishes a timeline for their implementation within twelve months of the sales tax taking effect. The Executive Summary for the Measure X Strategic Expenditure Plan is included as Attachment 3, and the full document is included as a web attachment.
Matching Fund Applications:
- Local Partnership Program Formula Funds: The objective of the Local Partnership Program is to reward counties, cities, districts, and regional transportation agencies in which voters have approved fees or taxes solely dedicated to transportation improvements or that have enacted fees solely dedicated to transportation. In the initial programming cycle, 2017-18 through 2019-20, program funds will be distributed 50% via formula and 50% via a competitive program. The Transportation Agency will receive $769,000 and $760,000 in FY2017/18 and FY 2018/19 respectively. Programming requests are due to the California Transportation Commission by December 15, 2017, and the proposed programming is included in Attachment 1.
- Solutions for Congested Corridors Competitive: Agency staff is proposing to submit a grant application for the construction of the Marina-Salinas Multimodal Corridor (Imjin Road Segment) in the amount of $19 million as the Agency's first priority project. Since only Regional Transportation Planning Agencies are eligible applicants for this program, the City of Monterey has requested that TAMC submit an application on the City's behalf for the Lighthouse Curve Trail Widening project in the amount of $8 million, which would be noted as the Agency's second priority for this competitive program. Grant applications are due to the California Transportation Commission by January 31, 2018.
- Transit and Intercity Rail Capital Program: The Agency has been coordinating with the California State Transportation Agency on the potential of receiving a grant to fully fund the Salinas Rail Extension project. This application would include the full funding of the Kick Start project as well as development of stations in both Castroville and Pajaro/Watsonville, and the expansion of the layover facility in Salinas. This vision is supported by the draft 2018 California State Rail Plan, which includes the project in the 2022 scenario. The Agency would be seeking a grant request of $121 million for this project.