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<br />6.2C <br />Page 2 <br /> <br />The primary objective of ARRA funding is to quickly create jobs. Expeditious <br />expenditure of ARRA funding is stipulated in the federal bill and by MTC to achieve the <br />intended objective. Staff is required to submit the projects for approval by Caltrans and <br />the Federal Highway Administration.' As well, project funding must be obligated by May <br />31, 2009. Staff is confident that these projects can be readied within the given time <br />period. <br /> <br />ALTERNATIVES <br />Council may choose to direct staff not to pursue ARRA funding. <br /> <br />FISCAL IMPACT <br />The city's estimated share of ARRA funds is $1,056,000 if awarded. These funds will be <br />used to augment the existing budgets as approved for Fiscal Year 2008-2009 for the <br />projects as follow. <br /> <br />PROJECT NAME ESTIMATED CIP/RDA CMAQ GRANT ESTIMATED ARRA <br /> PROJECT COST BUDGET FUNDING FUNDING <br />EI Camino $1.8m $638k $639k $523k <br />Grand Boulevard <br />Jefferson and Roosevelt $600k $67k 0 $533k <br />Avenue Overlav <br /> <br />"CIP" - Capital Improvement Program, "RDA" - Redevelopment Agency, "CMAQ" - Congestion <br />Management and Air Quality, "ARRA" - American Recovery and Reinvestment Act of 2009 <br /> <br />~~ ~r. <br /> <br />Supervising Ci . Engineer <br /> <br /> <br />S. Peter Vorametsanti, P.E., Acting Manager <br />E gineering and Construction Division <br /> <br /> <br />./ <br /> <br />Chu Chan, .E., <br />Community Development Services Director <br /> <br />Peter Ingram <br />City Manager <br /> <br /> <br />ATTACHMENTS <br />"Resolution of Local Support" <br /> <br />RELATED DOCUMENTS IN CITY CLERK'S OFFICE <br />None <br />