Title
Consider a resolution authorizing the submittal of a grant application for FY 2024 Federal Transit Authority Section 5307 funds for public transit services.
Body
Consider a resolution authorizing the submittal of a grant application to the Federal Transit Administration (FTA) for the FY2024 Section 5307 funding allocation in the amount of $1,129,796.
This application is for the annual 5307 urbanized area formula funds for fiscal year 2024, as authorized by Congress under the Bipartisan Infrastructure Law. These funds are allocated from Capital Metropolitan Transportation Authorities annual appropriations as the Designated Recipient for the Austin Urbanized Area.
This grant will be used to fund public transit projects including the fixed route and on-demand services. Both projects will be provided under full turnkey contracts. The Transit Coordinator will provide oversight for the program operations and manage the grants and associated federal requirements.
Total Grant Funds Requested is $1,129,796. The City's matching requirements is $1,402,855.
Cost: $1,402,855
Source of Funds: General Fund