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06 June 9, 2010 Executive89514 RIVERSIDE COUNTY TRANSPORTATION COMMISSION EXECUTIVE COMMITTEE (COMMISSIONERS STEVE ADAMS, MARION ASHLEY, JOHN BENOIT, BOB BUSTER, MARY CRATON, TERRY HENDERSON, BOB MAGEE GREG PETTIS, KAREN SPIEGEL, JEFF STONE, JOHN TAVAGLIONE) PLEASE NOTE TIME CHANGE 8:30 A.M. WEDNESDAY, JUNE 9, 2010 County of Riverside Administrative Center Conference Room A 4080 Lemon Street, Third Floor, Riverside In compliance with the Brown Act and Government Code Section 54957.5, agenda materials distributed 72 hours prior to the meeting, which are public records relating to open session agenda items, will be available for inspection by members of the public prior to the meeting at the Commission office, 4080 Lemon Street, Third Floor, Riverside, CA, and on the Commission's website, www.rctc.org. In compliance with the Americans with Disabilities Act and Government Code Section 54954.2, if you need special assistance to participate in an Executive Committee meeting, please contact the Clerk of the Board at (951) 787-7141. Notification of at least 48 hours prior to meeting will assist staff in assuring that reasonable arrangements can be made to provide accessibility at the meeting. 1. CALL TO ORDER 2. PUBUC COMMENTS 3. APPROVAL OF MINUTES - JANUARY 13 AND FEBRUARY 10, 2010 4. ADDITIONS/REVISIONS - The Committee may add an item to the Agenda after making a finding that there is a need to take immediate action on the item and that the item came to the attention of the Committee subsequent to the posting of the agenda. An action adding an item to the agenda requires 2/3 vote of the Committee. If there are less than 2/3 of the Committee members present, adding an item to the agenda requires a unanimous vote. Added items will be placed for discussion at the end of the agenda. 11.36.21 RCTC Executive Committee Agenda June 9, 2010 Page 2 5. CONSIDERATION OF INCREASING THE MEASURE A BOND DEBT LIMIT Overview This item is for the Committee to: 1) Consider options for increasing the $500 million Measure A bond debt limit; 2) Review the discussion and comments on the topic from the Western Riverside County Delivery Plan Ad Hoc Committee; 3) Direct staff to develop a draft ordinance amendment to increase the debt limit; and 4) Forward to the Commission for final action. 6. ADJOURNMENT The next Executive Committee meeting is scheduled to be held at 9:00 a.m., Wednesday, July 14, 2010, 4080 Lemon Street, Third Floor, Conference Room A, Riverside. RIVERSIDE COUNTY TRANSPORTATION COMMISSION EXECUTIVE COMMITTEE ROLL CALL JUNE 9, 2010 Present County of Riverside, District I County -of Riv'erside L t icty County of Riverside, District III County of Rt ersi er .District I\ County of Riverside, District V City of City of Cathedral City City of Curt City of Lake Elsinore City o Riverst City of La Quinta Absent RIVERSIDE COUNTY TRANSPORTATION COMMISSION EXECUTIVE COMMITTEE SIGN -IN SHEET JUNE 9, 2010 NAM v ex_ 'cue AGENCY l� E MAIL ADDRESS �o Kv 4.Nr, //� M 2 r o /N1 it . 7 y `1C'C3 e r/Go 12iVcc AGENDA ITEM 3 NUTES RIVERS/DE COUNTY TRANSPORTATION COMMISSION EXECUTIVE COMMITTEE January 13, 2010 Minutes 1. CALL TO ORDER The meeting of the Executive Committee was called to order by Chair Bob Buster at 8:30 a.m. in Conference Room A at the County of Riverside Administrative Center, 4080 Lemon Street, Third Floor, Riverside, California, 92501. Commissioners Present Steve Adams Marion Ashley John Benoit Bob Buster Mary Craton Terry Henderson Bob Magee Greg Pettis Karen Spiegel John Tavaglione Commissioners Absent Jeff Stone 2. PUBLIC COMMENTS There were no requests to speak from the public. 3. APPROVAL OF MINUTES M/S/C (Adams/Henderson) to approve the minutes of 2009, as submitted. 4. ADDITIONS/REVISIONS There were no additions or revisions to the agenda. December 9, RCTC Executive Committee Minutes January 13, 2010 Page 2 5. PROPOSED COMMITTEE RESTRUCTURING Anne Mayer, Executive Director, presented the proposed committee restructuring, discussing the following areas: • Disbanding the Plans and Programs Committee; • Proposed structure of the Coachella Valley Programs and Projects Committee; and • Proposed structure of the Budget and Implementation Committee. The committee discussed the proposed date of the Coachella Valley Programs and Projects Committee. Commissioner Marion Ashley requested the meeting be held in the morning due to a schedule conflict. He also asked staff to look into a proxy vote provision for committee meetings. Tom Kirk, Executive Director of the Coachella Valley Association of Governments (CVAG), stated he would discuss the concern with the CVAG Executive Committee and Commission staff to determine the best time to convene the meeting. At Commissioner Ashley's request, Steve DeBaun, legal counsel, confirmed that he will look into a proxy vote provision at a committee meeting for Supervisors. The committee also discussed the participation of the Chair in the proposed committee restructure. Commissioner Greg Pettis expressed support for the Chair's participation. M/S/C (Henderson/Ashley) to: 1) Approve disbanding the Plans and Programs Committee; 2) Approve the formation of the Coachella Valley Programs and Projects Committee and the Western Riverside County Programs and Projects Committee; 3) Review and approve the restructuring of the Budget and Implementation Committee; and 4) Forward to the Commission for discussion at its annual workshop on January 29, 2010, and return for final action at the February Executive Committee meeting. RCTC Executive Committee Minutes January 13, 2010 Page 3 6. UPDATE ON FEDERAL REQUIREMENTS FOR PROCUREMENT AND FUNDING ELIGIBILITY Anne Mayer briefed the committee on federal requirements involving federal debarment of local officials who have been indicted on felony charges, specifically involving a potential loss of federal funding. 7. ADJOURNMENT There being no other items to be considered, the Executive Committee meeting adjourned at 9:23 a.m. Respectfully submitted, Jennifer Harmon Clerk of the Board RIVERSIDE COUNTY TRANSPORTATION COMMISSION EXECUTIVE COMMITTEE February 10, 2010 Minutes 1. CALL TO ORDER The meeting of the Executive Committee was called to order by Chair Bob Buster at 9:05 a.m. in Conference Room A at the County of Riverside Administrative Center, 4080 Lemon Street, Third Floor, Riverside, California, 92501. Commissioners Present Commissioners Absent Steve Adams Marion Ashley Bob Buster Terry Henderson Bob Magee Greg Pettis Karen Spiegel Jeff Stone John Tavaglione John Benoit Mary Craton 2. PUBLIC COMMENTS There were no requests to speak from the public. 3. APPROVAL OF MINUTES — TO BE SUBMITTED AT THE NEXT MEETING 4. ADDITIONS/REVISIONS There were no additions or revisions to the agenda. 5. PROPOSED COMMITTEE RESTRUCTURING John Standiford, Deputy Executive Director, provided an update on the proposed committee restructuring. RCTC Executive Committee Minutes February 10, 2010 Page 2 M/S/C (Henderson/Stone) to: 1) Approve disbanding the Plans and Programs Committee; 2) Approve the formation of the Coachella Valley Programs and Projects Committee and the Western Riverside County Programs and Projects Committee; and 3) Approve the restructuring of the Budget and Implementation Committee. 6. UPDATE ON FEDERAL REQUIREMENTS FOR PROCUREMENT AND FUNDING ELIGIBILITY Anne Mayer briefed the committee on federal requirements involving federal debarment of local officials who have been indicted on felony charges, specifically involving a potential loss of federal funding. 7. ADJOURNMENT There being no other items to be considered, the Executive Committee meeting adjourned at 9:17 a.m. Respectfully submitted; WIALJcrgr--- Jennifer Harmon Clerk of the Board AGENDA ITEM: 5 RIVERSIDE COUNTY TRANSPORTATION COMMISSION DATE: June 9, 2010 TO: Executive Committee FROM: Anne Mayer, Executive Director SUBJECT: Consideration of Increasing the Measure A Bond Debt Limit STAFF RECOMMENDATION: This item is for the Committee to: 1) Consider options for increasing the $500 million Measure A bond debt limit; 2) Review the discussion and comments on the topic from the Western Riverside County Delivery Plan Ad Hoc Committee; 3) Direct staff to develop a draft ordinance amendment to increase the debt limit; and 4) Forward to the Commission for final action. BACKGROUND INFORMATION: In November 2002, Riverside County voters approved a 30-year extension of the Measure A half -cent, transportation sales tax program. State law that governs the approval of these measures requires that the proposition include an authorization for bonded indebtedness and the establishment of a limit on the amount that can be borrowed from future sales tax proceeds. Interestingly enough, the 2002 Measure A program actually established a debt limit that was lower than the limit approved for the 1988 Measure A program. The original 1988 Measure A program established a borrowing limit of $300 million. Four years later, the Commission went back to the voters and received voter approval to raise the limit to $525 million, which remained in place until the culmination the original measure in 2009. Economic conditions have changed drastically since 1992. The original Measure A was projected to raise less than $2 billion during its 20-year duration, while the current Measure A program is expected to generate up to $4.6 billion in the remaining 29 years of its existence. In spite of the current economic downturn, that number is likely to grow even higher, especially given some projections of high inflation due to the federal deficit. Agenda Item 5 Currently, the Commission is aggressively seeking to move construction projects forward with the aim of taking advantage of a favorable bidding environment and to complete a number of projects in the Measure A 30-Year Expenditure Plan as quickly as possible. With interest rates currently holding at low levels, the $500 million bonding limit could constrain the Commission's ability to rapidly deliver a wide array of projects including regional arterials, the Perris Valley Line extension and the State Route 91 Corridor Improvement Project in Corona. In considering its options, the Commission could opt to take a wait and see approach for a couple of years or it can act quickly by placing a measure on the November 2010 ballot. If action is taken to place a measure on the November ballot, it would require an action by the County Board of Supervisors by August 6, 2010 to call the election. Most importantly, the action to raise the debt limit would not change current borrowing practices that require Commission approval and oversight of all bonding transactions. The purpose of this item is to allow the Executive Committee to discuss the issue and to provide staff with direction. Agenda Item 5 Modifying Measure A's Borrowing Limit June 9, 2010 Stimulating Conversation & Construction • Funding Needed for SR-91 CIP • Urgent Arterial/Interchange Needs Remain — Foothill Parkway — I-215Nan Buren — French Valley Parkway — Coachella Valley Projects • PVL Construction Starts in 2012 • Additional Freeway Projects on Tap Measure A Legal Details • State law requires a limit • 1988 Measure — $300 Million Limit — 79 Percent Approval • 1992 Election Raised Limit to $525 million — 52 percent Approval • 2002 Measure A Established $500 million limit — Needed 2/3rds Approval Polling Results • Engaged previous Measure A Team • Initial numbers are encouraging — 62% support • Campaigning could be counterproductive • Ballot language especially critical • November ballot will be crowded • ROTC must reimburse county • 2002 cost was $372,000 • Election costs are Measure A eligible • Campaign account still needed Arguments in Support • Precedent set in 1992 • Polling results are supportive • Organized opposition is unknown • Risk of delay on the SR-91 CIP • Will be necessary at some time, if we can't act now —When? Recommendation • Direct Legal Counsel to draft ordinance • Present to Executive Committee in June • Seek Commission approval in July • Obtain vote from Supervisors -July 27 • Ask for Commissioner help for campaigning • Obtain voter approval in November