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HomeMy WebLinkAbout17 - Measure M Seven Year CIPCITY OF NEWPORT BEACH CITY COUNCIL STAFF REPORT Agenda Item No. 17 June 26, 2007 TO: HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCIL FROM: Public Works Department Jamie Pollard, Administrative Manager 949 - 644 -3311 orjpollard @city.newport- beach.ca.us SUBJECT: MEASURE M SEVEN YEAR CIP RECOMMENDATIONS: Adopt the Seven -Year Capital Improvement Program. 2. Direct staff to submit the adopted Capital Improvement Program, Maintenance of Effort certification, Pavement Management Program certification, and Growth Management Element statement of compliance to the Orange County Transportation Authority to satisfy the eligibility provisions for Measure M and Congestion Management Programs. DISCUSSION: In November 1990, Orange County voters approved Measure M which provides funding for transportation improvements. Measure M authorized the imposition of a one -half cent retail transaction and use tax for a period of 20 years effective April 1, 1991 through 2011. In November 2006, voters approved a renewed Measure M to continue the one -half cent sales tax for transportation purposes for 30 years starting in 2011. Current Measure M legislation provides local agencies with 14.6% of the sales tax revenue collected under a program called "turnback revenues." The amount allocated to each city is based on a formula using population, miles of existing arterial highways located within each jurisdiction and taxable sales. The City of Newport Beach will receive approximately $1,381,600 for fiscal year 2007/08 for local street projects under this program. To qualify to receive Turnback Funds, the City must satisfy the following requirements by June 30, 2007: 1. Adopt a Seven -Year Capital Improvement Program (CIP) that includes all projects to be funded partially or fully by Measure M dollars. 2. Submit an updated Pavement Management Program (PMP). 3. Provide a Growth Management Element Statement of Compliance. 4. Certify the requirements of the Maintenance of Effort (MOE). Measure M Seven Year CIP June 26, 2007 Page 2 A Maintenance of Effort requirement of $8,229,000 has been established for Newport Beach whereby the City must expend at least this amount from City general funds on street related expenditures each fiscal year. The City has complied with this and all other necessary criteria since the inception of the Measure M program. A complete submittal pertaining to all the above items will be transmitted to OCTA by June 30, 2007 to ensure continued eligibility under the Measure M program. Environmental Review: An environmental review is not required at this time; this action is administrative in nature and environmental review will be performed for each capital project prior to its implementation. Prepared by: (?VWWQAIa&O( arrie ollard AdrWstrative Manager Attachment: Measure M Seven -Year CIP Submitted by: �_i Z, Measure M -- Seven Year Capital Improvement Program Fiscal Years 2007 -2008 through 2013 -2014 City of Newport Beach Current Dollars in Thousands Name 1 2 3 4 5 6 7 Estimated 07108 08109 09110 10111 11112 12113 13114 Cost Fund Source % Pavement Management 1000 1000 1000 1500 1182 0 0 5682 Measure M 26% Program 1894 1500 1500 1500 1500 1500 1500 10894 Gas Tax 51% 176 0 0 0 0 0 0 176 Prop 42 1% 253 0 0 0 0 0 0 253 AHRP 1% 0 0 0 0 468 1968 2068 4504 Measure M 2 21% Subtotal 3323 2500 2500 3000 3150 3468 3568 21509 Traffic Signal Modernization 1100 380 400 0 0 0 0 1880 Measure M 43% 341 0 0 0 0 0 0 341 CTFP 8% 0 500 250 250 250 250 250 1750 Impact Fees 40% 400 0 0 0 0 0 0 400 Unfunded 9% Subtotal 1841 880 650 250 250 250 250 4371 Jamboree Road 299 0 0 0 0 0 0 299 Impact Fees 5% Bridge Widening over SR73 115 0 0 0 0 0 0 115 CTFP 2% 0 5391 0 0 0 0 0 5391 Unfunded 93% Subtotal 414 5391 0 0 0 0 0 5805 Jamboree Road 0 250 0 0 0 0 0 250 Bristol to Fairchild 0 0 0 0 0 0 0 0 Subtotal 0 250 0 0 0 0 0 250 TOTAL BUDGETED D = Design C = Construction 5578 9021 3150 3250 3400 3718 3818 31935 GMA 100% 0% ($000s)