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5-Year Capital Investment Program 2024-2028
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DESCRIPTION: RTA 5-year Capital Investment Program 2024-28
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 implement the 5-year Capital Investment Program (CIP) 2024-2028 for the 2024 Calendar Year.
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ISSUE/BACKGROUND:
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Although the agency has had a long-range, strategic plan, the Strategic Mobility Plan, since 2018 there has been no accompanying formal program of capital projects and initiatives to map out those efforts, their connection to the strategic goals of the agency, budgets, and financing plan. This work is typically accomplished by most public institutions as a Capital Improvement or Investment Program (CIP) with a five (5) year horizon. This timeframe strikes a balance between the long-term maturation of projects, particularly large capital ones, and reasonably predictable financial and tactical forecasting. A CIP does not typically have all funds identified in this 5-year window for all projects, but rather sets prioritized guidance for development and pursuit of financing, particularly for projects early in the development stage.
In 2023, the Board adopted a 5-year update of the Strategic Mobility Plan to reflect significant changes and accomplishments since 2018. Along with numerous major grants and awards, the staff has been developing the agency's first 5-year CIP to align with this update and its goals, strategies, and actions.
The CIP is also an opportunity to formalize a program of major projects for the repair, replacement, and general State of Good Repair (a formal FTA term) of existing vehicles, facilities, rail systems and other assets. The identification of these needs is also being formalized through the Transit Asset Management Plan (TAM), another plan that FTA requires to be updated a minimum of every 4 years and connects ...
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