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Page 3 of 4 The RAISE grant is a competitive grant; candidate RAISE-funded projects are evaluated on how positively a project can affect eight merit criteria: • Safety • Environmental Sustainability • Quality of Life • Mobility and Community Connectivity • Economic Competitiveness and Opportunity • State of Good Repair • Partnership and Collaboration • Innovation. The I-680/Sunol Interchange Modernization project is well-positioned to be competitive in the merit criteria; additionally, the recent award of 2024 STIP funds helps improve RAISE grant competitiveness as it demonstrates state partnership in an impactful community project. Local matching funds of no less than 20 percent of project cost are typically required for federal grants such as RAISE. If the City were to be awarded the full grant amount, an estimated local match of $5.3 million would be required. The City’s existing allocation of TIF and STIP funds would qualify to meet the local matching requirement. Thus, additional local matching funds would not be necessary. Staff is reaching out to obtain support letters from Caltrans, Alameda County Transportation Commission, the Tri-Valley Transportation Council, and U.S. Congressional and Senate Representatives. This project has received support previously from Congressional Representative Swalwell’s office and staff is confident that an additional support letter will be received prior to the RAISE grant submission deadline. EQUITY AND SUSTAINABILITY Not applicable, as this item is an administrative matter of City business. OUTREACH No outreach was conducted, as this item is an administrative matter of City business. STRATEGIC PLAN ALIGNMENT Approval of this action advances the ONE Pleasanton strategic goals of Funding our Future, Strategy 2 - Identify expanded and new revenue sources to address significant infrastructure needs, and Investing in our Environment, Strategy 1 - Implement the four-year CIP to complete design and construction of budgeted capital projects. This action will allow the opportunity for the City to receive significant new grant funding in support of a planned capital improvement project. FISCAL IMPACT The I-680 Sunol Interchange Modernization Project has a total estimated project cost of $31,000,000. To date, the City has been awarded $2,650,000 in Tri-Valley Transportation Development Fee (TVTDF) funds, $6,000,000 in State Transportation Improvement Program Page 147 of 228