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TO: |
Board of Trustees |
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THROUGH: |
Jay Fox, Executive Director |
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FROM: |
William Greene, Chief Financial Officer |
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PRESENTER(S): |
William Greene, Chief Financial Officer |
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Daniel Hofer, Manager, Capital Assets and Project Controls |
TITLE:
title
R2022-06-03 - Resolution Approving the First Amendment of the Authority’s 2022-2026 Capital Plan
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AGENDA ITEM TYPE:
Resolution
RECOMMENDATION:
The Board of Trustees approve Resolution R2022-06-03 to modify the 2022-2026 Capital Plan as presented.
BACKGROUND:
A Five-Year Capital Plan for the years 2022 through 2026 (the “Plan”) was previously adopted in Resolution R2021-12-06. That plan contains a prioritized list of planned capital projects, a description of the annual prioritization process, and projected funding on an annual, cumulative and project basis.
The Authority has prepared an amendment to the approved 5-Year Capital Plan and per Board direction at their May 11 2022 meeting, submitted the proposed Amendment No. 1 to the Local Advisory Council seeking its review, approval, and recommendation for adoption by the Board of Trustees.
On June 1, 2022 the Local Advisory Council adopted the updated 5-Year Capital Plan through Resolution AR2022-06-01 and recommended approval by the Board of Trustees.
DISCUSSION:
The proposed amendment to the 2022-2026 Capital Plan recognizes new CMAQ funding for the Utah County Bus Stop Improvements Project and adds three (3) new projects to the capital program. It also incorporates the proposed Budget Amendment #1 being considered by the Board (which is presented as a separate item on the Board’s June 22, 2022 agenda).
MSP224- UTA ADA Bus Stop Improvements- Utah County
This project is an existing 2021 project that was not funded in 2022. Subsequently, UTA was awarded CMAQ funding and would like to recognize authority for construction activities in 2022. If approved, this request would restore the project to the 2022 Capital Plan and recognize the CMAQ funding that has been programmed for this project and the necessary match. CMAQ Funding amount is $268,500 and UTA’s match is $19,500 for a total of $288,000.
MSPXX1- Station Area Planning
In an effort to catalyze real estate development around UTA stations, the Utah Legislature recently passed a bill (HB462) requiring every municipality with a fixed guideway transit station to complete a Station Area Plan (SAP) by 2026. As the principal organization in the state specializing in Station Area Planning, UTA has assured the Legislature, the Metropolitan Planning Organizations, and our city partners that the agency will meet this increased demand with additional technical assistance and expertise.
If approved, this request would allow UTA to initiate that effort in 2022, either through consultants, contractors, additional UTA staff, or a combination of the three. The TOD group, in close coordination with UTA’s Strategic Planning team, will determine how best to meet the legislative requirements to create development-focused plans that are responsive to the market realities surrounding transit stations. The 2022 amount for this new project is $120,000.
SGRXX1- Fiber Rehab and Replacement Project
UTA has an opportunity to realize economies of scale and accelerate fiber technology throughout the system by advancing material purchases to this year. These fiber purchases will support substation rehabilitation and other fiber installation projects throughout the system next year. By advancing this purchase, installation and project completion will be expedited on projects sharing the fiber network.
This request will cover design and material costs with anticipated fiber delivery this year. The installation and construction costs are anticipated to occur next year. This construction acceleration will be addressed in the 2023-2027 Capital Plan update later this year.
Materials currently have a six-month lead time. The 2022 capital cost is $750,000.
ALTERNATIVES:
The Board may ask staff to revise the proposed amendment.
FISCAL IMPACT:
This request will add $1,158,000 worth of new capital projects to UTA’s 2022-2026 Capital Plan. Funding will be provided as follows - $268,500 from CMAQ funding (which
will be recognized as revenue), and the remaining from UTA’s fund balance.
ATTACHMENTS:
Resolution R2022-06-03