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FINANCIAL STATEMENT With City Council approval of the resolution, the City will submit a STIP Grant application in the amount of $6 million. The programmed budget through FY 2026/27 for the 1-680 Sunol Interchange Modernization Project is $9,230,168, which includes design and construction work. Should the project be included in the final 2024 STIP list, $6 million will be allocated in FY 2027/28 toward construction work and staff will request City Council approval to enter into a funding agreement with MTC and seek authorization for any necessary budget actions. BACKGROUND The City regularly receives competitive grant funding notices from various sources including the Alameda CTC, MTC, California Department of Transportation (Caltrans), and the City's Senate and Congressional representatives. Staff closely reviews these opportunities and pursues grants based on numerous factors, including but not limited to project eligibility, selection criteria, funding need, staff availability, and likelihood of award. Over the last three years, the City has applied for 10 competitive grants totaling $36,169,000. Thus far, the City has been awarded five grants totaling $12,783,898, for a range of projects including the West Las Positas Multimodal Reconstruction project, and the 1-580 Overcrossing, supporting both planning/design and construction. To date, the City has been awarded $2,650,000 in grant funds to support the 1-680/Sunol Boulevard Interchange Modernization Project, another $890,000 is pending in "likely or expected" funds, including award of $850,000 in federal funds that are included in a Community Project Funding federal earmark. State Transportation Improvement Grant The STIP is a multi-year capital improvement program of transportation projects on and off the State Highway System. The program is administered by the California Transportation Commission (CTC) and funded through the State Highway Account and other funding sources, such as the bonds authorized under the 2024 State Senate Bill 1. County transportation agencies have been delegated to take on a more active role in selecting and programming transportation projects for their communities. Each STIP cycle, Alameda CTC adopts and forwards a program of STIP projects to the MTC. The MTC is then tasked with reviewing and evaluating proposed STIP projects from the nine-county Bay Area to develop a final regional transportation project list. This list is then submitted to the CTC for final inclusion in the STIP. Sunol Interchange Improvement Project The 1-680/Sunol Boulevard interchange is the city's southernmost access to 1-680 and experiences a high volume of morning peak hour traffic that causes recurring congestion along Sunol Boulevard. A modification to the interchange is necessary to improve safety and reduce congestion. Page 2 of 4