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FINANCIAL/FISCAL IMPACT: <br />There is no immediate impact resulting from the authorization to use the 12.7% Caltrans cost <br />escalator. However, the City must ensure compliance with the SANBAG Nexus Study update <br />requirements to ensure the City's receipt of Measure I funds. <br />RECOMMENDATIONS: <br />Staff respectfully recommends City Council authorize City staff to use Caltrans' five year rolling <br />average of 12.7% of the Highway Construction Items Index, in the update of the 2006 <br />Development Mitigation Study, as required by SANBAG. <br />Attachments: <br />Attachment A: <br />SANBAG Board of Director Agenda for the Meeting of March 7, 2007 <br />❖ Agenda Item 17: Development Mitigation Program Cost Escalation Factor <br />for Calendar Year 2006. <br />Report prepared by Amanda Rhinehart — Public Works Project Manager <br />REVIEW TEAM ONLY <br />City Attorney: Finance Director: <br />City Maiipj!��� - - OTHER: <br />