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6.3.C. - Page 24 RESOLUTION NO. 2018 - 11 BOARD OF DIRECTORS, SAN MATEO COUNTY TRANSPORTATION AUTHORITY STATE OF CALIFORNIA PROGRAMMING AND ALLOCATING $450,000 IN MEASURE A FUNDS FROM THE FERRY PROGRAM CATEGORY TO PREPARE A FEASIBILITY STUDY AND COST -BENEFIT ANALYSIS FOR A NEW FERRY TERMINAL IN REDWOOD CITY WHEREAS, on November 2, 2004, the voters of San Mateo County approved the continuation of the collection and distribution by the San Mateo County Transportation Authority (TA) of the New Measure A half -cent sales tax transactions and use tax for an additional 25 years to implement the 2004 Transportation Expenditure Plan beginning January 1, 2009, and WHEREAS, the 2004 Transportation Expenditure Plan includes a 2 percent funding share to provide financial assistance as local match funds for cost-effective ferry service to South San Francisco and Redwood City; and WHEREAS, the Cities of South San Francisco and Redwood City have approved a 50/50 funding share split, equivalent to $15 million (2004 dollars) in Measure A funds to each city over the 25 -year life of the Measure. WHEREAS, in its capacity as a project sponsor, the City of Redwood City (City) has submitted a request for $450,000, to supplement $60,000 in matching funds to complete a financial feasibility study and cost -benefit analysis (CBA) for a new ferry terminal in Redwood City with the operation of public service; and WHEREAS, staff recommends the Board require the City to secure $60,000 in local matching funds prior to contract execution; and WHEREAS, the City will be the lead for the proposed work effort in conjunction with the Port of Redwood City and the Water Transportation Emergency Authority (WETA); WHEREAS, the financial feasibility study and CBA will provide information on the viability of a public ferry service expansion to Redwood City, an essential first step before further efforts are taken to develop a new ferry terminal. Pace 1 a' 2