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8 <br /> THE CITY OF <br /> 21=1 CITY COUNCIL AGENDA REPORT <br /> pL£ASANTONa <br /> June 6, 2023 <br /> Engineering <br /> TITLE: ADOPT A RESOLUTION AMENDING THE FISCAL YEAR 2023/24 <br /> BUDGET TO INCORPORATE A LIST OF PROJECTS FUNDED BY <br /> SENATE BILL 1, THE ROAD REPAIR AND ACCOUNTABILITY ACT OF <br /> 2017 <br /> SUMMARY <br /> Senate Bill 1 (SB-1), the Road Repair and Accountability Act of 2017, was passed by <br /> the California Legislature and signed into law by the Governor in April 2017 to address <br /> significant multi-modal transportation funding shortfalls statewide. SB-1 created the <br /> Road Maintenance and Rehabilitation Account (RMRA). To receive funding from SB-1, <br /> the City must annually adopt a resolution that includes a list of projects to be funded by <br /> the RMRA; the list must include a description and the location of each proposed project, <br /> a proposed schedule for the project's completion and the estimated useful life of the <br /> improvements. <br /> RECOMMENDATION <br /> Adopt a resolution amending the FY 2023/24 budget to incorporate a list of street <br /> improvements to be funded by SB-1, the Road Repair and Accountability Act of 2017. <br /> FINANCIAL STATEMENT <br /> SB-1 will provide the City with an estimated $1,971,217 in RMRA funding in FY 2023/24 <br /> that is programmed in the FY 2023/24 streets Capital Improvement Program (CIP). <br />