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Planning and Programming Committee Wednesday, September 15, 2004 1:00 P.M. Full agenda (pdf) 12. CONSIDER: A. approving acceleration of deferred transportation programs using $171.1 million in Proposition C 25% cash and $1,143.1 million in planned Proposition C 25% borrowing to restore schedules approved by the MTA Board of Directors, advance mobility in Los Angeles County, and help Southern California meet air quality conformity requirements of the Federal Clean Air Act. With this action, the MTA will strategically utilize planned borrowing to advance the committed Los Angeles County Transportation Improvement Program (TIP) in its entirety and amend that program to include the following $1,314.2 million in additional project funding:
*Costs are reduced from $552.1 million [to $489.7 million] due to construction acceleration to FY 2010 from FY 2013 and using primarily local funding. Exposition Light Rail Project to Culver City This project is being advanced to the FY 2010 timeframe with a new locally funded alternative from FY 2013 , as reflected in the recently submitted Section 5309 New Starts annual filing. While the first priority remains funding this project using Federal Section 5309 New Starts and State Traffic Congestion 'Relief Program (TCRP) funds, an alternative source is local Proposition C 25% funds. A locally funded alternative is being introduced to expedite construction and ensure compliance of the RTIP with air quality standards by opening the line during FY 2010. This new funding option provides for local funding replacing Federal New Starts, plus a local contribution of 10% of the project costs. |