AgdaPkt 2018-09-10 Joint SA PFA - Laserfiche WebLink

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6.3.C. - Page 1 REPORT To the Honorable Mayor and City Council From the City Manager September 10, 2018 SUBJECT By motion, accept a Funding Agreement with the San Mateo County Transportation Authority, and by resolution, approve an amendment to the FY 2018-19 budget to record grant revenue and appropriate funds for the Ferry Project RECOMMENDATION By motion, authorize the City Manager to execute the Funding Agreement of Measure A Ferry Program Category Funds from the San Mateo County Transportation Authority in the amount of $450,000 for the financial feasibility and cost -benefit analysis phase, for a total grant award of $450,000; and by resolution, approve an amendment to the Fiscal Year 2018-2019 budget to record revenue and appropriate funds in the amount of $450,000 for the Redwood City Ferry Terminal Project under the Various Transportation Grants Fund BACKGROUND The City is taking the subject actions to determine whether the construction of a ferry terminal and associated ferry service would be valuable and feasible service to provide to the community. In March 2018, the City Manager sent a letter to the San Mateo County Transportation Authority (TA) requesting $450,000 in Measure A funding to prepare a Financial Feasibility Study and Cost -Benefit Analysis Report (Study and Analysis). Measure A, a measure to collect a half -cent sales tax for transportation and traffic congestion relief, was reauthorized by voters in 2004 and was amended to include funding for public ferry service expansion in San Mateo County. In May 2018, the TA's Board of Directors programmed and allocated $450,000 from the Measure A Ferry Program Category to complete a financial feasibility study and cost -benefit analysis. In order to receive Measure A funding, the TA requires a Funding Agreement to be executed between the TA and City. Once an agreement is executed, the City will receive funding on a reimbursement basis.