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Amendment 9 to the CEA between DOTD and RTA to revise Exhibit K
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DESCRIPTION: Execute an amendment to the CEA between DOTD and RTA related to the ferry service's State annual operating subsidy schedule
AGENDA NO: Click or tap here to enter text.
ACTION REQUEST:
? Approval ? Review Comment ? Information Only ? Other
RECOMMENDATION:
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Authorize the Chief Executive Officer to execute an amendment to the Cooperative Endeavour Agreement (CEA) between the Department of Transportation and Development (DOTD) of the State of Louisiana and the Regional Transit Authority (RTA), specifically Exhibit K, as provided in the attached draft of Amendment No. 9.
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ISSUE/BACKGROUND:
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RTA's management present for this Committee's consideration and referral to the Board of Commissioner approval and issuance of a resolution authoring the RTA's Chief Executive Officer to execute an amendment to the existing (CEA) between the RTA and the DTOD add transfer dates and estimated transfer amount between July 1, 2023 (Project Year 11) and July 1, 2032 (Project Year 20), for up to $5,140,000 per year. This amendment will increase the total maximum estimated compensation since the CEA became effective and Project Year 2032, to $99,046,641.00.
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DISCUSSION:
The CEA, effective since February 16, 2014, regulate the cooperative endeavor agreement between RTA and DOTD related to the ferry service. Amongst the CEA's exhibits is Exhibit K, the State Annual Subsidy Schedule, which contain the statement of annual ferry subsidy, including the schedule of transfer of estimated funds. While several sources of State provided funding has subsidize the ferry service, the main source of State funding to subsidize the ferry service is pursuant to RS 48:25.1(A), known as the Transportation Trust Fund, and RS 48:25.2, known as the New Orleans Ferry Fund.
In the case of the Transportation Trust Fund, RS 48:25.1(A) provide that "[t]he [DOTD][ ] shall...contribute fr...
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