Every year, Seal Beach must submit a yearly report on spending to the Orange County Transportation Authority to be eligible for Measure M2 funds.
The Seal Beach City Council on Dec. 9 unanimously directed the city manager to submit the M2 Expenditure Report by Dec. 31.
The council also adopted the M2 Expenditure Report for Fiscal Year 2023-24 and found the report was prepared according to the template provided in the renewed measure M2 guidelines.
This was a Consent Calendar item. Consent items are voted on collectively, without discussion, unless a council member pulls one or more items for further discussion.
Nothing was pulled from last week’s Consent Calendar.
Background
“In November 1990, the voters of Orange County approved Measure M, the Revised Traffic Improvement and Growth Management Ordinance,” according to the staff report prepared by Associate Engineer David Spitz.
“Measure M created a fund for transportation improvements to mitigate traffic impacts generated by existing and proposed development. Measure M authorized the imposition of an additional half-cent retail transaction and use tax for a period of twenty (20) years. In November 2006, Measure M was renewed by the voters of Orange County for an additional thirty (30) years, and is now known as Measure M2,” Spitz wrote.
“Funds identified as Measure M2 ‘fairshare’ funds are used on local and regional transportation improvement and maintenance projects. Other Measure M2 funds for transportation-related projects are made available through several competitive programs included in the Comprehensive Transportation Funding Program (CTFP),” Spitz wrote.
“The City of Seal Beach successfully submitted all required items above to Orange County Transportation Authority (OCTA) by the required annual deadline of June 30, 2024. The year end expenditure report summarizes all Measure M2 expenditures for the prior fiscal year and is required to be submitted by December 31, 2024. The approval of this report will allow the City to continue to receive OCTA Measure M2 funds,” Spitz wrote.
