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11 THE CITY Of - -- ° ~ ~ -~- ~"' CITY COUNCIL AGENDA REPORT j~L£~S~4NTONo April 15, 2008 Public Works Department TITLE: ADOPT RESOLUTION APPROVING A PLAN FOR THE USE OF PROPOSITION 1 B TRANSPORTATION FUNDS AND AUTHORIZING SUBMITTAL TO THE STATE DEPARTMENT OF FINANCE FOR DISBURSEMENT OF FUNDS SUMMARY Proposition 1 B funds from the State of California are available to the City of Pleasanton in the amount of $1,105,877.36 for use on eligible transportation projects. As part of the process to receive these funds, the City must approve a plan for the use of the funds. RECOMMENDATION Adopt a resolution approving a plan for the use of the $1,105,877.36 Proposition 1 B funds. 2. Authorize the Director of Public Works to submit the application for receipt of the bond funds. FINANCIAL STATEMENT The City of Pleasanton is eligible to receive $1,105,877.36 in Proposition 1B transportation funds, and staff is proposing that the funds be allocated to three different projects that have previously been identified in the City's Capital Improvement Program (CIP) budget (2007-08 through 2010-2011). The Foothill Road Widening Project (CIP No. 995019), included $308,000 in anticipation of receiving Proposition 1 B funding. The remaining $797,877.36 would be allocated to two future annual street resurfacing projects ($400,000 for the 2009 Annual Street Resurfacing project, CIP No. 095003 and $397,877.36 for the 2010 Annual Street Resurfacing project, CIP No. 105003). This would result in $1,105,877.36 becoming available to augment existing funding for City projects. As required by Proposition 1 B, this funding will augment existing funding and not be used for in-lieu funding. Budget allocations approved through this staff report and resolution will also be reflected in the Mid-Term Budget and Capital Improvement Program document that will come before Council prior to the beginning of next fiscal year.