City Council

5. MEASURE M2 FAIRSHARE ANNUAL\nEXPENDITURE REPORT The Local Transportation\nAuthority Ordinance No. 3 requires the City to adopt\nan annual Expenditure Report to account for the Net\nRevenues, developer/traffic impact fees, and funds\nexpended by the City, which satisfy the\nMaintenance of Effort (MOE). The Orange County\nTransportation Authority (OCTA) established the\nMOE benchmark in conjunction with passage of the\noriginal Measure M. MOE is a requirement that the\nCity expend local funds on transportation related\nprojects each fiscal year in order to be eligible to\nreceive Measure M2 Fairshare funds; the City’s\nrequired MOE expenditure for Fiscal Year 2022-23\nis $1,697,045.\nRecommendation: It is recommended that the City\nCouncil adopt Resolution No. 23-62, adopting the\nMeasure M2 Expenditure Report for Fiscal Year\n2022-2023 (attached), and direct staff to file the\nreport with the Orange County Transportation\nAuthority. RESOLUTION NO. 23-62 A\nRESOLUTION OF THE CITY COUNCIL OF THE\nCITY OF TUSTIN, CALIFORNIA, CONCERNING\nTHE MEASURE M2 (M2) EXPENDITURE REPORT\nFOR THE CITY OF TUSTIN, CALIFORNIA\nAgenda Report