City Council

(14)\n25-1158\nTRANSPORTATION and BUDGET AND FINANCE COMMITTEES’\nREPORT relative to applying for the Innovative Finance and Asset\nConcession (IFAC) Fiscal Year (FY) 2025 Grant Program.\nRecommendation for Council action:\nAUTHORIZE the General Manager, Department of Transportation, or\ndesignee, to:\na. Retroactively prepare and submit a grant application for the\nUnited States Department of Transportation’s IFAC Grant\nProgram.\nb. Report to Council if the City is awarded the grant to request\nauthority to accept the grant award and confirm the plan for any\nrequired match and/or front funding.\nFiscal Impact Statement: The City Administrative Officer (CAO)\nreports that there is no General Fund impact from the\nrecommendations in the report. If awarded, up to $1,000,000 will be\nmatched using Prop A funds allocated for this purpose in the FY 2026\nAdopted Budget.\nFinancial Policies Statement: The CAO also reports that the\nrecommendations in the report comply with the City’s Financial\nPolicies.