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BACKGROUND
<br /> A total of $19.925 billion in bonds were authorized by the voters. Of this $19.925 billion,
<br /> $2 billion was allocated to cities and counties ($1 billion for cities and $1 billion for
<br /> counties). As part of the 2007 Budget Act and Chapter 181, Statutes of 2007 (SB 88),
<br /> $950 million of the Prop 1B funds were appropriated in 2007 -08 ($550 million for cities
<br /> and $400 million for counties). Each city was allocated a certain amount of funding
<br /> based on population; Pleasanton was eligible for $1,105,877.36. On April 15, 2008, the
<br /> City Council approved a resolution which included a plan to use the funding. The funds
<br /> have since been received and are in the process of being used for the programmed
<br /> projects.
<br /> The 2009 Budget Act appropriated a total of $700 million, representing the balance of
<br /> Proposition 1B Local Street and Road funding. Of this total, $258,205,000 is designated
<br /> for Cities; and Pleasanton's share, based on population, is $1,022,135.34. All funds
<br /> received from this appropriation must be used by June 30, 2013.
<br /> DISCUSSION
<br /> In order to receive the Proposition 1B bond funds, the City of Pleasanton is required to
<br /> approve a plan that specifically identifies projects on which the funds will be used. The
<br /> bond language states that the proceeds can be used for "improvements to transportation
<br /> facilities that will assist in reducing local traffic congestion and further deterioration,
<br /> improving traffic flows, or increasing traffic safety that may include, but not be limited to,
<br /> street and highway pavement maintenance, rehabilitation, installation, construction and
<br /> reconstruction of necessary associated facilities such as drainage and traffic control
<br /> devices, or the maintenance, rehabilitation, installation, construction and reconstruction
<br /> of facilities that expand ridership on transit systems, safety projects to reduce fatalities,
<br /> or as a local match to obtain state or federal transportation funds for similar purposes."
<br /> Staff has prepared a plan for use of the $1,022,135.34 Proposition 1B funds, as follows:
<br /> Anticipated Current Prop 1B Total
<br /> No Project Construction Budget Funding Budget
<br /> Date
<br /> Annual Resurfacing of Various Streets,
<br /> 1 CIP 115003 7/11/2011 $2,250,000 $400,000 $2,650,000
<br /> Annual Resurfacing of Various Streets,
<br /> 2 CIP 125003 7/9/2012 $2,250,000 $400,000 $2,650,000
<br /> Annual Slurry Sealing of Various
<br /> 3 Streets, CIP 115004 7/18/2011 $250,000 $222,135.34 $472,135.34
<br /> These three proposed projects were adopted by City Council on June 16, 2009, as part
<br /> of the Capital Improvement Program Budget for FY 2009/2010 through 2012/2013. The
<br /> identified projects will improve traffic flow, increase traffic safety, and prevent local
<br /> pavement surface from deterioration. Pursuant to the bond requirements, funds must be
<br /> expended within three fiscal years after the fiscal year in which the controller makes the
<br /> allocation. Therefore, Proposition 18 funds appropriated by the State in this fiscal year
<br /> (2009 -10) must be expended by June 30, 2013.
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