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Staff Report PREPARED BY: MATT MORLEY DIRECTOR OF PARKS AND PUBLIC WORKS Reviewed by: Assistant Town Manager Town Attorney Finance MEETING DATE: 11/01/16 ITEM NO: 3 COUNCIL AGENDA REPORT DATE: OCTOBER 21, 2016 TO: MAYOR AND TOWN COUNCIL FROM: LAUREL PREVETTI, TOWN MANAGER SUBJECT: TOWNWIDE TRAFFIC SIGNAL SYSTEM UPGRADE PROJECT A. ACCEPT A VEHICLE REGISTRATION FEE GRANT FROM THE VALLEY TRANSPORTATION AUTHORITY TO UPGRADE TRAFFIC SIGNALS TOWNWIDE. B. AUTHORIZE A BUDGET ADJUSTMENT IN THE AMOUNT OF $500,000 TO RECOGNIZE RECEIPT AND USE OF GRANT FUNDS. C. AUTHORIZE THE TOWN MANAGER TO EXECUTE ALL FUTURE GRANT DOCUMENTS AND AGREEMENTS WITH VTA. RECOMMENDATIONS: 1. Accept a Vehicle Registration Fee (VRF) grant from the Valley Transportation Authority (VTA) to upgrade traffic signals Townwide. 2. Authorize a budget adjustment in the amount of $500,000 to recognize receipt and use of grant funds. 3. Authorize the Town Manager to execute all future grant documents and agreements with VTA. BACKGROUND: On August 4, 2016, the VTA Board approved the Town’s application for a VRF grant in the amount of $500,000. The grant request was submitted within the Intelligent Transportation System component of the grant program. Improvement to the Town’s traffic signal system will aid in reducing traffic congestion and traffic flow inefficiencies. DISCUSSION: Upon final approval of the grant, Town staff will develop a detailed project based on a preliminary scope that was developed for the grant. Project plans and specifications as well as the project contract award(s) will be brought forward on future Council agendas at the appropriate times. The term of the PAGE 2 MAYOR AND TOWN COUNCIL SUBJECT: TOWNWIDE TRAFFIC SIGNAL SYSTEM UPGRADE PROJECT OCTOBER 21, 2016 DISCUSSION (cont’d): grant lasts through December 2019 and staff anticipates all associated projects to complete prior to that deadline. CONCLUSION: Staff recommends that the Town Council: 1. Accept a Vehicle Registration Fee (VRF) grant from the Valley Transportation Authority (VTA) to upgrade traffic signals Townwide. 2. Authorize a budget adjustment in the amount of $500,000 to recognize receipt and use of grant funds. 3. Authorize the Town Manager to execute all future grant documents and agreements with VTA. COORDINATION: This report has been coordinated with the Finance Department. FISCAL IMPACT: The Town will receive grant revenue of $500,000 which will offset future project costs as identified in the Capital Improvement Project 813-0227 titled Traffic Signal Modernization. ENVIRONMENTAL ASSESSMENT: This is not a project as defined under CEQA and no further action is required. Attachment: 1. Funding Agreement