HomeMy WebLinkAboutMINUTES - 11191996 - C151 C. 151
TO: BOARD OF SUPERVISORS
FROM: TRANSPORTATION COMMITTEE
DATE: November 12, 1996
SUBJECT: Develop Financing Plans for the State Route 4-West and State Route 4-East Projects and
Apply for Federal State Infrastructure Bank Demonstration Grant Funds.
SPECIFIC REQUEST(S)OR RECOMMENDATION(S)&BACKGROUND AND JUSTIFICATION
1. Recommended Action:
Request the Public Works Director, the Contra Costa Transportation Authority and the East Contra Costa
Regional Fee and Financing Authority to:
1. Develop financing plans for the State Route 4 West and State Route 4 East projects and secure
the Metropolitan Transportation Commission's and the State's recognition of the potential for large
local participation when they consider commitments for future State and Federal funding for the
State Route 4 projects, and
2. Apply for a Federal "State Infrastructure Bank (SIB)" demonstration grant for the State Route 4
projects using the SIB either as bond financing security or as a means to advance projects on the
corridor.
II. Financiallmpact:
No impact on General Fund.
III. Reasons for Recommendations and Background:
On October 22, 1996, the Board of Supervisors referred a request from Supervisor Torlakson to consider
follow-up action to apply to the SIB for financing improvements to State Route 4.
The East Contra Costa Regional Fee and Financing Authority was created in 1994 to fund several regional
projects in East County. A Strategic Plan was adopted in 1996. The Strategic Plan is based on a build as
fee revenue becomes available basis. Early implementation of the State Route 4-West gap closure project
is also tied to the time needed to collect the sales tax and potential developer fees allocated for
construction. The SIB demonstration program could provide a means to accelerate these important
projects.
IV Consequences of Negative Action:
Failure to act may preclude an opportunity to utilize SIB grant funds for these projects.
Continued on Attachment:
_RECOMMENDATION OF COUNTY ADMINISTRATOR
X RECOMMENDATION OF BOARD COMMITT C�n
_APPROVE _0TH�
SIGNATURE(S): Tom Torlakson
ACTION OF BOARD ON November 19, 199(j PPROVED AS RECOMMENDED X OTHER
1 hereby aetMy Blot this fs a true watt am" of
e+t eaeon taken and entered on the minutes d 11110
Board of Supervisofe on the data shown.
XMSTM. NC)VPm}— 1-9, 1996
PHIL BATCHELOR,C:srk of the board
VOTE OF SUPERVISORS
of Supervisors and County Admin tof
--- UNANIMOUS.(,ABSENT ---- ) I A6
AYES yIH, - .NOES: ---- Ji , p
ABSENT: ------ ABSTAIN: 11 6
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Orig. Div: Public Works(Administration)
Contact: Maurice Shiu(313-2251)
cc: Contra Costa Transportation Authority
East Contra Costa Regional Fee and Financing Authority
City of Antioch
City of Brentwood
City of Hercules
City of Martinez
City of Pittsburg