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Page 4 of 4 <br />(STIP) funds (eligible for appropriation in FY2027/2028), and has also budgeted a total of <br />$8,461,660 in TIF funds towards this project. $1,834,448 of the total TIF allocation has been <br />expended for design costs in prior fiscal years, leaving $6,627,212 in TIF allocation for fiscal <br />years 2024-2027. The table below outlines the approved and anticipated funding sources for <br />the project. <br /> <br />Fund Source Funding Amount <br />Pleasanton Traffic Impact Fee $8,461,660 <br />($1,834,448 in past expenditures and <br />$6,627,212 in current and future allocated <br />funding through FY27) <br />TVTDF $2,650,000 <br />STIP <br />(approved for appropriation in FY27/28) <br />$6,000,000 <br />Federal Earmark <br />(pending Congressional approval) <br />$890,000 <br />RAISE Grant Request $15,300,000 <br />TOTAL $33,301,660 <br />($1,834,448 in past expenditures and <br />$31,467,212 in current and future allocated <br />funding through FY27) <br /> <br /> <br />The application of $15,300,000 in RAISE grant funds would increase the available funding for <br />the project to $31,467,212 if fully awarded, and complete funding for the project. <br /> <br />Should the City be awarded RAISE grant funds, staff will return to Council at a future date to <br />seek approval to enter into a funding agreement with the US DOT, and request authorization <br />for any necessary budget actions. <br /> <br />Prepared by: Submitted by: Approved by: <br /> <br />Cedric Novenario, Senior <br />Transportation Engineer <br />Ellen Clark, Director of Community <br />Development <br /> <br />Gerry Beaudin, City <br />Manager <br /> <br />Attachments: <br />None <br /> <br />Page 148 of 228