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CITY OF <br />F NEWPORT REACH <br />City Council Staff Report <br />November 25, 2014 <br />Agenda Item No. 6 <br />TO: HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCIL <br />FROM: David A. Webb, Public Works Director- (949) 644 -3330, <br />dawebb <br />PREPARED BY: Brad Sommers, Senior Civil Engineer <br />PHONE: (949) 644 -3326 <br />TITLE: Adopt a Resolution for Submittal of the Coast Highway Traffic Signal <br />Synchronization Project Application to Orange County Transportation Authority <br />Measure M2 Regional Traffic Signal Synchronization Program <br />ABSTRACT: <br />In accordance with the Orange County Transportation Authority (OCTA) Comprehensive Transportation <br />Funding Program (CTFP) guidelines, local agencies are required to adopt a Resolution in order to <br />participate in the current Measure M2 call for projects. Staff plans to submit a funding application for the <br />Coast Highway Traffic Signal Synchronization Project as part of the Measure M2 Regional Traffic Signal <br />Synchronization Program. <br />RECOMMENDATION: <br />Adopt Resolution No. 2014 -97, A Resolution of the City Council of the City of Newport Beach Approving <br />the Submittal of the Coast Highway Traffic Signal Synchronization Project for the Orange County <br />Transportation Authority's (OCTA) Measure M2 Traffic Signal Synchronization Program Funding. <br />FUNDING REQUIREMENTS: <br />Funding is not required for adoption of the Resolution for application to the Regional Traffic Signal <br />Synchronization Program grant program. <br />Should the project application be successful and awarded Measure M2 grant funds, the City of Newport <br />Beach will be required to provide match funds. The conceptual cost estimate for the project is <br />approximately $2,250,000. The requested grant amount is approximately $1,800,000 and the required <br />cash match would be $450,000 (20 %). Funding for the project will be allocated in the FY 2015 -2016 <br />Capital Improvement Program. <br />M <br />