| Citizens Advisory Committee - July 15, 2009 |
CITIZENS ADVISORY COMMITTEEMeeting Notice Date: 6:00 p.m., Wednesday, July 15, 2009 Location: 100 Van Ness Avenue, 26th Floor Members: Brian Larkin (Chair), Peter Tannen (Vice Chair), Glenn Davis, Chris Jones, Cecilia Lim, Michael Ma, Fran Martin, Vicki Oppenheim, Jul Lynn Parsons, Jacqualine Sachs and Wendy Tran
6:00 1. Committee Meeting Call to Order 6:03 2. Chair's Report - INFORMATION 6:07 3. CAC Appointment - INFORMATION The Plans and Programs Committee will consider recommending appointment of two members to the CAC at its July 21 meeting. These vacancies will result from the term expirations of Cecilia Lim and Jacqualine Sachs at the end of July 2009. Neither staff nor CAC members make recommendations regarding CAC appointments. CAC applications can be obtained at the Authority's website (www.sfcta.org) or by calling 415.522.4800. This is an information item. 6:10 Policy and Programming 4. Adopt a Motion of Support for the Provisional Adoption of the 2009 Prop K Strategic Plan - ACTION* attachment enclosure In November 2003, nearly 75% of the San Francisco electorate approved Proposition K (Prop K), extending the existing half-cent local transportation sales tax and adopting a new 30-year Expenditure Plan and programming a total of $2.35 billion (2003 $'s) in local transportation sales tax revenue to a number of eligible categories to leverage another $9.6 billion (2003 $'s) in other federal, state and local funds. The Strategic Plan is the financial tool that guides the timing and allocation of Prop K revenues over the 30-year Expenditure Plan period, reconciling the timing of expected Prop K revenues with the schedule for when project sponsors need those revenues in order to deliver projects, and setting policy for the administration of the program to ensure prudent stewardship of the funds. In March 2005, the Authority Board adopted the first Prop K Strategic Plan. The requested action would support the provisional adoption of the 2009 update to the Prop K Strategic Plan. The structure and underlying philosophy of the 2005 Strategic Plan have been carried forward. The proposed changes are necessary to address reduced revenue projections due to the current economic recession, new project priorities and funding needs, and modified project delivery schedules. The Draft 2009 Strategic Plan, included as an enclosure to this memo would continue the precedent of advancing funds through financing to deliver projects early on, which means that over the 30-years of the Expenditure Plan fewer dollars will be available for projects and programs because of the need to pay interest. The 2009 Strategic Plan assumes slightly over $825 million in debt issuance, at a cost of about $853 million in finance costs in year-of-expenditure dollars. Despite the higher cost of financing, the size of the projected debt issuance is about $200 million lower than assumed in the 2005 Strategic Plan primarily because delays in project delivery and favorable rates for our existing $150 million in outstanding commercial paper allowed us to avoid issuing long-term debt during the first five years of Prop K. We are recommending provisional adoption of the 2009 Strategic Plan in order to allow major capital projects and categories like paratransit with no 5YPP requirement to move forward with planned Fiscal Year 2009/10 allocations. We expect that adoption of the 5YPPs in September 2009 will trigger a Strategic Plan amendment to push out programming and cash flows for certain key categories compared to the current proposals from sponsors. Our review of schedules and cash flows proposed by sponsoring agencies indicates that they may be more ambitious then warranted by those agencies' project delivery track record, funding plans, project readiness, and resources. To gather additional public input to inform the development of the 5YPPs and the likely amendment to the Strategic Plan, we have scheduled 4 public open houses in July/August. We are seeking a motion of support for the provisional adoption of the 2009 Prop K Strategic Plan. 5. Adopt a Motion of Support for Approval of the 2009 Prop K 5-Year Prioritization Program for the Pedestrian and Bicycle Facilities Maintenance Category - ACTION* attachment The voter-approved Prop K Expenditure Plan requires that each programmatic category (i.e., not project specific) develop a 5-Year Prioritization Program (5YPP) as a prerequisite for receiving Prop K allocations. This requirement applies to 21 programs such as street resurfacing, traffic calming, transit enhancements, and pedestrian and bicycle facilities maintenance. The intended outcome of the 5YPPs is the establishment of a steady stream of grant-ready projects that can be advanced as soon as funds (including Prop K, federal, state, and other) are available. While the Strategic Plan provides the long-term road map for managing Prop K revenue, the 5YPPs ensure that the Authority Board, project sponsors and the public have a clear understanding of how projects are prioritized for funding within each particular programmatic category as well as the five year program of projects anticipated to be delivered. The Department of Public Works (DPW) and the Municipal Transportation Agency (MTA) are the two eligible recipients of Prop K funds from the Pedestrian and Bicycle Facility Maintenance category. The two agencies have worked together to develop the draft 5YPP for this category for the period covering Fiscal Years 2009/10 through 2013/14. To avoid a possible suspension of the DPW's Public Sidewalk Repair Program, which is primarily funded by Prop K funds from this category, we are bringing this 5YPP for approval before the other 20 programmatic 5YPPs so that the CAC and Authority Board can concurrently consider allocation of $554,760 in Fiscal Year 2009/10 funds. Approval of this 5YPP is contingent Authority Board approval of the 2009 Strategic Plan. We are seeking a motion of support for approval of the 2009 Prop K 5YPP for Pedestrian and Bicycle Facilities Maintenance category. 6. Adopt a Motion of Support for the Allocation of $554,760 in Prop K Funds, with Conditions, to the Department of Public Works for the Public Sidewalk Repair Program and $9,670,000 in Prop K Funds, with Conditions, to the Municipal Transportation Agency for Paratransit, Subject to the Attached Fiscal Year Cash Flow Distribution Schedules - ACTION* attachment The Department of Public Works (DPW) requests $554,760 in Prop K funds for its Fiscal Year 2009/10 Public Sidewalk Repair Program. Although most annual Prop K requests will be considered by the Citizens Advisory Committee (CAC) and Authority Board in September 2009 concurrent with updated 5-Year Prioritization Programs (5YPPs), the DPW is very concerned that any delay in funding would force DPW to suspend scheduled sidewalk repairs for several months. The Municipal Transportation Agency (MTA) also faces a potential disruption to paratransit services if its annual Prop K funding is not secured at this time. The CAC will consider approval of the updated 5YPP for the Pedestrian and Bicycle Facility Maintenance category under a separate item on this agenda. Allocation of sidewalk repair funds to DPW is contingent on approval of this 5YPP as well as approval of the 2009 Strategic Plan. Allocation of Paratransit funds is also contingent on approval of the Strategic Plan. We are seeking a motion of support for the allocation of $554,760 in Prop K funds, with conditions, to DPW for the Public Sidewalk Repair Program and $9,670,000 in Prop K funds, with conditions, to the MTA for Paratransit, subject to the attached Fiscal Year Cash Flow Distribution Schedules. 7. Status Report on 2009 Prop K 5-Year Prioritization Programs (5YPP) Updates - INFORMATION At the July 15, 2009 Citizens Advisory Committee (CAC) meeting, we will provide a status report on the 5-Year Prioritization Program (5YPP) updates, including highlights of the 5YPPs to date. We will also provide information on the 4 public open houses in July/August and answer any questions the CAC may have. In September, we will bring final draft 5YPPs to the Committee and Board for approval, along with our recommended annual allocations. Approval of the 5YPPs is a voter-mandated requirement and a prerequisite for consideration and approval of annual allocations. We are seeking input and guidance from the CAC. This is an information item. 7:10 Planning 8. Adopt a Motion of Support for the Strategic Analysis Report on Transportation Options for a Better Market Street - ACTION* attachment report At the October 7, 2008 meeting of the Plans and Programs Committee, Commissioner Daly requested that we initiate a Strategic Analysis Report (SAR) on the issue of automobile restrictions on Market Street. At its February 24, 2009 meeting, the Authority Board approved the scope of work for the SAR (R09-37). This SAR investigates strategic options for improving transportation conditions on Market Street, with a focus on potential effects of automobile restrictions. Automobile restrictions appear effective at supporting a comprehensive strategy to realize the potential of Market Street as a "great street" and to promote wider economic goals. A central tenet of the transportation approach discussed in this SAR is to develop Market Street as a "shared space" where all travelers are more aware and respectful of one another-with a prioritization of transit and non-motorized modes. Coordinated infrastructure investment is important to deliver an identity for Market Street that support the "great streets" vision. A partnership model for carrying out a multi-agency effort to deliver this vision is recommended. The planned resurfacing of Market Street in 2013 is a major opportunity to transform the street; however, a phased approach beginning in the next 3-6 months is recommended to demonstrate, evaluate, and expand transportation and other improvement measures once refined. Staff presented the draft SAR at the Authority Board meeting on May 19, 2009 and to the CAC at its meeting on May 27, 2009 as an information item. Since these meetings, we have sought and obtained input from agencies and stakeholders which have been incorporated into the final SAR. We are seeking a motion of support to adopt the final Strategic Analysis Report on Transportation Options for a Better Market Street. 7:35 Finance and Administration 9. Adopt a Motion of Support for Approval of the Revised Investment Policy and Debt Policy - ACTION* attachment It is Authority direction to review the Investment Policy and Debt Policy on an annual basis to ensure compliance with current statutes and Authority objectives. For Fiscal Year 2009/10 and upon the advice of the Authority's financial advisors, we are recommending minor changes to the Investment Policy and the Debt Policy to conform to applicable law and to allow for increased flexibility. We are seeking a motion of support for approval of the revised Investment Policy and Debt Policy. 10. Investment Report for the Quarter Ended June 30, 2009 - INFORMATION* attachment The Authority's Investment Policy directs that a review of portfolio compliance be presented quarterly. As year-end closing is still underway, the investment report for the quarter ended June 30, 2009 is presented independently. Following the annual audit, the Basic Financial Statements will be presented to the CAC along with the results of the fiscal audit, single audit, and management review. This is an information item. 7:40 11. Public Comment 7:50 12. Adjournment * Materials Attached Next Special Meeting: September 9, 2009Next Regular Meeting: September 23, 2009CAC MEMBERS WHO ARE UNABLE TO ATTEND SHOULD CONTACT ERIKA CHENG AT (415) 522-4831 This meeting location is wheelchair accessible. In order to allow individuals with environmental illness or multiple-chemical sensitivity to attend the meeting, individuals are requested to refrain from wearing perfume or other scented products. All times shown are for information only. Items will be called at the discretion of the Chair. If any materials related to an item on this agenda have been distributed to the Citizens Advisory Committee after distribution of the agenda packet, those materials are available for public inspection at the San Francisco County Transportation Authority at 100 Van Ness Avenue, Floor 26, San Francisco, CA 94102, during normal office hours. If you prefer receiving future agendas via email instead of regular mail, please send your request to
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