Title
Consider/Discuss/Act on Return of Unobligated FY18 FTA 5307 Funds
Summary
MEETING DATE: April 19, 2022
DEPARTMENT: Housing & Community Development
CONTACT: Akia Pichon, Transit Administrator
ITEM SUMMARY:
• The Federal Transit Authority (FTA) is requesting a return of FY18 5307 funds of $2,944,216. McKinney has not applied for or obligated these funds. These funds would be redistributed to grantees similarly situated to McKinney. Expenditures on this funding have been slow because they require a 50% funding match. The period for which these funds can be obligated will soon lapse. Returning these funds benefits our relationships with other agencies because it shows that we are a good regional partner. For these reasons, staff recommends returning FY18 5307 funds in the amount of $2,944,216 to FTA.
BACKGROUND INFORMATION:
• MUTD Board voted that City of McKinney return FY17 FTA 5307 funds in the amount of $2,679,265 in May 2021.
FINANCIAL SUMMARY:
• After the return of the FY18 5307 funds, the City will still have $10,069,885 in available unobligated funds.