Title
Consider/Discuss/Act on a Resolution Approving CARES Act Transit Funding for Fiscal Year 2020-21
Summary
MEETING DATE: June 17, 2020
DEPARTMENT: Housing & Community Development
CONTACT: Akia Pichon, Transit Administrator
Janay Tieken, Housing & Community Development Director
ITEM SUMMARY:
• The City of McKinney has been allocated an $8,844,174 grant through the FTA CARES Act with no lapse date or required local match for operating or capital expenses.
BACKGROUND INFORMATION:
• City of McKinney receives federal money as a Tier II 5307 direct recipient. CARES Act eligible expenses include all capital, operating, and planning activities normally eligible under Section 5307.
FINANCIAL SUMMARY:
• This will increase the FY21 MUTD Fund Balance by $8,844,174. No local match will be required of MUTD member cities for FY21.