City Council

9. MEASURE M2 FAIRSHARE ANNUAL EXPENDITURE REPORT The\nLocal Transportation Authority Ordinance No. 3 requires the City to adopt\nan annual expenditure report detailing Net Revenues, developer/traffic\nimpact fees, and City expenditures that meet the Maintenance of Effort\nrequirements. The Orange County Transportation Authority established\nthe Maintenance of Effort benchmark with the original passage of\nMeasure M. Under the MOE requirement, the City must spend local funds\n12/2/24, 1:11 PM Regular Meeting of the City Council/Closed Session-5:30 pm/Regular Meeting-7:00 pm\non transportation-related projects each fiscal year to remain eligible to\nreceive Measure M2 Fairshare funds. For Fiscal Year 2023-24, the City’s\nrequired Maintenance of Effort expenditure is $1,938,025.\nRecommendation: It is recommended that the City Council adopt\nResolution No. 24-83, adopting the Measure M2 Expenditure Report for\nFiscal Year 2023-2024 (attached), and direct staff to file the report with the\nOrange County Transportation Authority. RESOLUTION NO. 24-83 A\nRESOLUTION OF THE CITY COUNCIL OF THE CITY OF TUSTIN,\nCALIFORNIA, CONCERNING THE MEASURE M2 (M2) EXPENDITURE\nREPORT FOR THE CITY OF TUSTIN, CALIFORNIA Fiscal Impact: There\nis no fiscal impact associated with this agenda item.\nAgenda Report