Agmt18 San Mateo County Transportation Authority Measure A Funds for Ferry Program

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FUNDING AGREEMENT SAN MATEO COUNTY TRANSPORTATION AUTHORITY MEASURE A FUNDS (FERRY PROGRAM CATEGORY) REDWOOD CITY FERRY PROJECT D This Funding Agreement (Agreement) is made this day of (Zc t1OP , 2018 (Execution Date) by and between the San Mateo County Transportation Authority (TA) and the City of Redwood City (Sponsor), together referred to herein as the "Parties." RECITALS WHEREAS, on June 7, 1988, the voters of San Mateo County approved a ballot measure to allow the collection and distribution by the TA of a half -cent transactions and use tax in San Mateo County for 20 years with the tax revenues to be used for highway and transit improvements pursuant to the Transportation Expenditure Plan presented to the voters (Original Measure A); and WHEREAS, on November 2, 2004, the voters of San Mateo County approved the continuation of the collection and distribution by the TA of the Measure A half -cent transaction and use tax for an additional 25 years to implement the 2004 Transportation Expenditure Plan, beginning January 1, 2009 (New Measure A); 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 City of South San Francisco and Sponsor have approved a 50150 funding share split, equivalent to $15 million (2004 dollars) in Measure A funds to each city over the 25 -year life of the Measure; and WHEREAS, Sponsor requested that the TA provide $450,000 of Measure A funds to complete a financial feasibility study and cost -benefit analysis for a new ferry terminal in Redwood City with the operation of public service (Project); and WHEREAS, Project meets the intent of the 2004 Transportation Expenditure Plan and the TA's 2014-2019 Strategic Plan; and WHEREAS, on May 3, 2018, the TA's Board of Directors programmed and allocated up to $450,000 from the Measure A Ferry Program Category (Measure A Funds) to complete a financial feasibility study and cost -benefit analysis (Scope of Work) for the Project through Resolution 2018-11; and WHEREAS, the TA and Sponsor desire to enter into this Agreement to establish the process, terms and conditions governing the allocation and expenditure of Measure A Funds on the Project. REV: 08-31-18 PR San Mateo County Transportation Authority/City of Redwood City Redwood City Ferry Project Page 1 of 18 14740234.2