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CC - (1) Adoption of a Resolution to Incorporate the Paving of Overland Avenue from Washington Boulevard to Ballona Creek in the List of City Projects to be Funded by SB 1 (The Road Repair and Accountability Act).
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Meeting Date: April 23, 2018
Contact Person/Dept: Mate Gaspar, Public Works Department
Phone Number: 310-253-5602
Fiscal Impact: Yes [x] No [] General Fund: Yes [] No [x]
Public Hearing: [] Action Item: [] Attachments: [x]
Commission Action Required: Yes [] No [x] Date:
Public Notification: (E-Mail) Meetings and Agendas - City Council (04/18/18);
Department Approval: Charles D. Herbertson (04/11/18)
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RECOMMENDATION
Staff recommends the City Council adopt a Resolution to incorporate the paving of Overland Avenue from Washington Boulevard to Ballona Creek in the list of City projects to be funded by SB1 (The Road Repair and Accountability Act).
BACKGROUND
On April 28, 2017, Governor Brown signed Senate Bill (SB) 1 (The Road Repair and Accountability Act). This measure was in response to California's significant funding shortfall to maintain the State's multimodal transportation network. SB 1 increases several taxes and fees to raise over $5 billion annually in new transportation revenues. Moreover, SB 1 makes adjustments for inflation every year so that the purchasing power of the revenues does not diminish as it has in the past with other gas tax subvention funds. SB 1 prioritizes funding towards maintenance and rehabilitation and safety improvements on state highways, local streets and roads, and bridges and towards improvement of the state's trade corridors, transit, and active transportation facilities.
The estimated revenues will be phased-in over several years as follows:
* $1.8 billion - 12 cent increase to gasoline excise tax (Nov. 1, 2017)
* $730 million - 20 cent increase to diesel excise ta...
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