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Prior to June 30, 2003, the City must submit to Caltrans a fully executed and signed "Program <br />Supplement No. M002 to Administering Agency -State Agreement No. 08-5065" (also known as a <br />"Program Supplemental Agreement") and a resolution authorizing the Mayor to execute the <br />Program Supplemental Agreement. The "Program Supplement No. M002" is attached as Exhibit <br />"A" and the proposed resolution is attached as Exhibit "B". The attached Exhibit "C" is a letter <br />dated May 20, 2003 from Caltrans which provides further explanation of this matter. <br />ENVIRONMENTAL IMPACT <br />This action does not involve any environmental impact. <br />FINANCIAL/FISCAL IMPACT <br />The City's seismic retrofit projects were originally funded by a combination of Federal funds (80%) <br />and State funds (20%). Because the State ftmding was withdrawn, as explained above, the City <br />must obtain funding for the remaining twenty percent (20%). Staffs proposal to obtain recently <br />released funds from the State would secure the required twenty percent (20%) funding for the <br />seismic retrofit projects. However, if the twenty percent (20%) matching ftmds cannot be obtained <br />from the State, then the City will be responsible for providing these funds. The preliminary cost <br />estimate for twenty percent (20%) of the City's seismic retrofit projects is $519,381.00. <br />RECOMMENDATION: <br />Staff respectfully recommends that Council approve "Program Supplement No. M002 to <br />Administering Agency -State Agreement No. 08-5065" and adopt the proposed resolution <br />authorizing the Mayor to execute the Program Supplemental Agreement. <br />Report prepared by James King - Engineering Dept. <br />TEAM ONLY <br />Attorney: Finance I <br />Manager: OTBER: <br />2 <br />