ITEM TITLE:
#24-37 - Authorizing the Submission of a Reconnecting Communities Pilot (RCP) Discretionary Grant Program Application to the US Department of Transportation to Assist With Subsequent Pavement Management Construction
SUBMITTED BY: Jordan Nelson, Finance Director
FISCAL NOTES:
Expenditure Required: Up to $5MM
Unencumbered Balance: TBD
Funding Source: TBD by combination of Projects Planning Reserve, Carryforward Funds, Staff time, In-kind Sources and/or Grant Opportunities
RECOMMENDATION:
Approve
SUMMARY STATEMENT:
City of Valdez was not awarded the US DOT RAISE grant for future phases of the City’s Pavement Management program. US DOT RCP grant opportunity is staff’s second choice for funding this program and due by the end of September. US DOT RCP requires a higher match which can be in any combination of City cash, grant funds, in-kind, and/or staff time.
Staff is evaluating the best mix of matching sources that optimizes parameters such as award likelihood and appropriate project scope and has only preliminary figures at this point.
The City Council will have an opportunity to make a final evaluation of the specific financial implications of this grant for approval or denial should an award be made.