City Council

9. MEASURE M2 FAIRSHARE ANNUAL EXPENDITURE REPORT The Local Transportation Authority Ordinance No. 3 requires the City to adopt an annual expenditure report detailing Net Revenues, developer/traffic impact fees, and City expenditures that meet the Maintenance of Effort requirements. The Orange County Transportation Authority established the Maintenance of Effort benchmark with the original passage of Measure M. Under the MOE requirement, the City must spend local funds 12/2/24, 1:11 PM Regular Meeting of the City Council/Closed Session-5:30 pm/Regular Meeting-7:00 pm on transportation-related projects each fiscal year to remain eligible to receive Measure M2 Fairshare funds. For Fiscal Year 2023-24, the City’s required Maintenance of Effort expenditure is $1,938,025. Recommendation: It is recommended that the City Council adopt Resolution No. 24-83, adopting the Measure M2 Expenditure Report for Fiscal Year 2023-2024 (attached), and direct staff to file the report with the Orange County Transportation Authority. RESOLUTION NO. 24-83 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF TUSTIN, CALIFORNIA, CONCERNING THE MEASURE M2 (M2) EXPENDITURE REPORT FOR THE CITY OF TUSTIN, CALIFORNIA Fiscal Impact: There is no fiscal impact associated with this agenda item. Agenda Report