AgdaPkt 2017-12-04 Joint SA PFA - Laserfiche WebLink

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6.3.A. - Page 2 ANALYSIS Measure A's Highway Program is a promising near-term funding source for the US 101 — Woodside Road (State Route 84) Interchange Project because it is listed as an eligible project in the 1988 and 2004 Measure A expenditure programs. Up to $6E million is available in the current call for projects. The City is currently conducting the Plans, Specifications & Estimates/Right of Way (PS&E/RW) phase. This phase is funded with TA Highway Program funds and City matching funds. Outcomes of this phase include the development of bid documents for construction and the coordination of utility relocations. Provided that right-of-way acquisition funding is secured, right of way acquisition activities could begin in mid -2018 and end with right of way certification in late 2019. In parallel, the City is pursuing funding for construction capital. The capital cost of the Project's right of way acquisition (the "Project Scope") is estimated at $37,000,000. The City intends to contribute City property valued at approximately $9,000,000. The City/County Association of Governments (C/CAG) recommended that the Proposed Draft 2018 State Transportation Improvement Program include $8,000,000 in right of way funding. Therefore, the City intends to apply for $20,000,000 in Highway Program funds which would cover the remaining balance. Attachment 2 outlines the proposed funding plan for the project and includes staff recommended contingency amounts to cover potential unknown project costs and/or increases in right-of-way acquisition costs. ALTERNATIVES Council may choose not to authorize the application for funding from the TA and direct staff to seek other funding sources. FISCAL IMPACT If approved by the TA, Measure A funding would contribute $20 million of the $41 million (including contingency) cost associated with right of way acquisition for this project. Additionally, the City would commit to providing land valued at $9,000,000. Attachment 2 provides the complete proposed funding plan for the project. ENVIRONMENTAL REVIEW Adopting a resolution of support does not constitute a project according to the California Environmental Quality Act because it has no potential for resulting in either a direct or reasonably foreseeable indirect change in the environment.