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RESOLUTION NO. 2020-5 <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF <br />NEWPORT BEACH, CALIFORNIA, AUTHORIZING AND <br />APPROVING SUBMITTAL OF A FUNDING APPLICATION <br />FOR THE BALBOA ISLAND/CORONA DEL MAR <br />MICROTRANSIT FEASIBILITY STUDY PROJECT TO THE <br />ORANGE COUNTY TRANSPORTATION AUTHORITY FOR <br />FUNDING UNDER THE PROJECT V COMMUNITY-BASED <br />TRANSIT/CIRCULATORS PROGRAM <br />WHEREAS, the City of Newport Beach ("City") desires to implement a <br />Balboa/Corona del Mar Microtransit Feasibility Study Project ("Project"); <br />WHEREAS, the Orange County Transportation Authority's ("OCTA") Community - <br />Based Transit/Circulators Program ("Project V Program") establishes a competitive <br />process to enable local jurisdictions to develop community-based local transit services <br />that complement regional transit services and meet needs in areas not adequately <br />serviced by regional transit; <br />WHEREAS, the OCTA intends to allocate Project V funds within the incorporated <br />cities and the County of Orange; <br />WHEREAS, the OCTA has established the procedures and criteria for reviewing <br />applications as identified in the Project V Guidelines; <br />WHEREAS, the City has been declared by OCTA to meet the eligibility <br />requirements to receive revenues as part of OCTA's Measure M2 ("Measure M2"); <br />WHEREAS, the City's Circulation Element is consistent with the County of Orange <br />Master Plan of Arterial Highways; <br />WHEREAS, by this resolution, the City Council of the City of Newport Beach <br />authorizes the nomination of the Balboa Island/Corona del Mar Microtransit Feasibility <br />Study Project; <br />WHEREAS, the City must include all projects funded by Net Revenues in the <br />seven-year Capital Improvement Program as part of Measure M2 eligibility requirement; <br />WHEREAS, should OCTA's Board of Directors approve funding for the Project as <br />part of the Project V Program, OCTA shall provide ninety percent (90%) of the funding for <br />the Project, not to exceed Fifty Eight Thousand Five Hundred Dollars and 00/100 <br />($58,500.00); <br />