9. MEASURE M2 FAIRSHARE ANNUAL EXPENDITURE REPORT The Local Transportation Authority Ordinance No. 3 requires the City to adopt an annual expenditure report detailing Net Revenues, developer/traffic impact fees, and City expenditures that meet the Maintenance of Effort requirements. The Orange County Transportation Authority established the Maintenance of Effort benchmark with the original passage of Measure M. Under the MOE requirement, the City must spend local funds on transportation-related projects each fiscal year to remain eligible to receive Measure M2 Fairshare funds. For Fiscal Year 2023-24, the City’s required Maintenance of Effort expenditure is $1,938,025. - City of Tustin, CA

Meeting: Regular Meeting of the City Council/Closed Session-5:30 pm/Regular Meeting-7:00 pm

Meeting Time: December 03, 2024 at 7:00pm PST

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Agenda Item

9. MEASURE M2 FAIRSHARE ANNUAL EXPENDITURE REPORT The Local Transportation Authority Ordinance No. 3 requires the City to adopt an annual expenditure report detailing Net Revenues, developer/traffic impact fees, and City expenditures that meet the Maintenance of Effort requirements. The Orange County Transportation Authority established the Maintenance of Effort benchmark with the original passage of Measure M. Under the MOE requirement, the City must spend local funds on transportation-related projects each fiscal year to remain eligible to receive Measure M2 Fairshare funds. For Fiscal Year 2023-24, the City’s required Maintenance of Effort expenditure is $1,938,025.