Title
Consider/Discuss/Act on the Transfer of FY16 Section 5307 Funds to the Golden Crescent Regional Planning Commission
Summary
COUNCIL GOAL: Financially Sound Government
(4D: Create Financial Plans for Future Growth as Well as Future Maintenance)
MEETING DATE: January 16, 2019
DEPARTMENT: Housing and Community Development
CONTACT: Anthony V. Cao, Transit Administrator
ITEM SUMMARY:
- The Golden Crescent Regional Planning Commission (GCRPC), the direct recipient for the Victoria urbanized area, operates a public transportation system within the City of Victoria and throughout an eight-county region
- Due to demands on their existing cash flow and reserves, GCRPC is seeking a partner to assist with its financial needs until FTA apportions FY19 funds
- GCRPC is seeking $500,000 from the MUTD’s FY16 Section 5307 funds
- After approval of the FY19 federal budget, the Federal Transit Administration (FTA) will transfer an equivalent amount to the MUZA’s FY19 allocation to repay this interim loan. This would be on top of MUZA’s “regular” FY19 allocation
- Both the FTA and the Texas Department of Transportation have been notified of this request and do not have any issues with it
BACKGROUND INFORMATION:
• The Golden Crescent Regional Planning Commission has previously received assistance from CCART in 2009 and more recently, from Port Arthur Transit in 2017
FINANCIAL SUMMARY: $500,000