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Finance, Budget and Audit Committee - Revised Agenda*

Location & Date

Metro Board Room, One Gateway Plaza, 3rd Floor, Los Angeles
Wednesday, May 14, 2014 1:00 p.m.

Agenda

Call to Order

Directors

Mark Ridley-Thomas, Chair
John Fasana, Vice Chair
Paul Krekorian
Ara Najarian
Zev Yaroslavsky
Carrie Bowen, non-voting member

Officers

Arthur T. Leahy, Chief Executive Officer
Michele Jackson, Board Secretary
Karen Gorman, Acting Ethics Officer
Karen Gorman, Inspector General
County Counsel, General Counsel

5. AUTHORIZE the extension and execution of Memorandum of Understanding by the Chief Executive Officer for the 1) Support for Homeless Re-Entry Program (SHORE - $500,000 annual budget); 2) Immediate Needs Transportation Program (INTP - $5,000,000 annual budget); and 3) Rider Relief Transportation Program (RRTP - $5,000,000 annual budget) for five years beginning Fiscal Year (FY) 2015, subject to availability of funds approved through the budget process. Additionally, authorize:

A. re-allocation of the coupon printing expense, estimated at $100,000 for FY15, from the administration budget to the transportation budget so that the full value of the administrative share of $500,000 is available for the program administration;

B. allocate additional funding in the amount of $20,000 for the administration of the SHORE program, bringing the total funded value to $520,000 (an increase of 4%); and

C. a change in the distribution of INTP fare media to allow for up to 70 65% of the subsidy value to be made available through the token program, increasing the token share from its current level of 65 50%. Conversely, the subsidy value allocated to the taxi program would decrease from 35 50% to 30 35%. [HANDOUT 1] [HANDOUT 2]

6. AUTHORIZE the Chief Executive Officer or his delegate to sign the Petition and cast a ballot in support of the Downtown Industrial District Business Improvement District and property assessments. 

7. AUTHORIZE the Chief Executive Officer or his delegate to sign the Petition and cast a ballot in support of the North Hollywood Transit Business Improvement District and property assessments. 

8. DELEGATE authority to the Chief Executive Officer to determine the Los Angeles County Metropolitan Transportation Authority’s participation in Benefit Assessment District where the total assessment over the term of the BID does not exceed $500,000. 

9. AUTHORIZE the Chief Executive Officer to execute the $207 million Measure R Local Match Financial Contribution Agreement to facilitate payment by the City of Los Angeles of its local share contribution of certain Measure R Transit project costs. 

10. AUTHORIZE the Chief Executive Officer to revise the Life-of-Project for:

A. CP 212005 from $734,364 to $1,020,832, an increase of $286,468; and

B. CP 212002, from $1,400,000 to $1,509,114, an increase of $109,114.

52. APPROVE Access Services local funding in the amount of $70,559,472 for Fiscal Year 14/15. This includes:

A. $68,513,472 for Access Services Operating and Capital; and

B. $2,046,000, paid directly to the Southern California Regional Rail Authority (Metrolink), for its participation in the Board-adopted Access Services Free Fare Program.

11. REVIEW AND CONSIDER approval of the draft Finance, Budget and Audit Committee charter. 

12. RECEIVE report from the Chief Executive Officer.

Consideration of items not on the posted agenda, including: items to be presented and (if requested) referred to staff; items to be placed on the agenda for action at a future meeting of the Committee or Board; and/or items requiring immediate action because of an emergency situation or where the need to take immediate action came to the attention of the Committee subsequent to the posting of the agenda.

COMMENTS FROM THE PUBLIC ON ITEMS OF PUBLIC INTEREST WITHIN COMMITTEE’S SUBJECT MATTER JURISDICTION

ADJOURNMENT

 

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