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RESOLUTION AMENDING RESOLUTION NO. R-319-08 TO INCLUDE CERTAIN TRANSIT PROJECTS AMONG CAPITAL PROJECTS AUTHORIZED TO BE FUNDED FROM NOT TO EXCEED $300,000,000 MIAMI-DADE COUNTY, FLORIDA TRANSIT SYSTEM SALES SURTAX REVENUE BONDS, SERIES 2008

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WHERERAS, this Board adopted Resolution No. R-319-08, as amended, on April 8, 2008 (�Resolution No. R-319-08�) authorizing the issuance of not to exceed $300,000,000 in Miami-Dade County, Florida Transit System Sales Surtax Revenue Bonds, Series 2008 (�Series 2008 Bonds�) for the purpose of paying capital costs in the amount of $162,322,000 for certain transit and public works projects identified in Exhibit �A� (�Exhibit A�) to that Resolution and to retire a certain Sunshine Loan in the amount of $100,000,000; and

WHEREAS, this Board desires to amend Exhibit A to include certain capital projects in the amount of $27,678,000 for the Transit Department as described in the accompanying County Manager�s Memorandum (�County Manager�s Memorandum�),

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF MIAMI-DADE COUNTY, FLORIDA, that Exhibit �A� to Resolution No. R-319-08 is amended to include those certain Transit projects in the amount of $27,678,000 described in the County Manager�s Memorandum among the capital projects approved for funding from the proceeds of the Series 2008 Bonds.

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Date:

To: Honorable Chairman Bruno A. Barreiro
and Members, Board of County Commissioners

From: George M. Burgess
County Manager

Subject:Resolution Amending Resolution No. R-319-08 to Include Certain Transit Projects Among Capital Projects Authorized to be Funded not to exceed $300,000,000 Transit System Sales Surtax Revenue Bonds, Series 2008

MANAGER'S BACKGROUND
It is recommended that the Board amend Resolution No. R-319-08, adopted on April 8, 2008, to include certain Transit projects in the amount of $27,678,000 among the capital projects approved for funding from the proceeds of the Series 2008 Miami-Dade County, Florida Transit System Sales Surtax Revenue Bonds. Further detail on these projects was requested at the April 8, 2008 and April 22, 2008 Board meetings and is provided below and in the attachment.

Scope
The projects funded through this action will have a countywide impact.

Fiscal Impact/Funding Source
The principal and interest on the Series 2008 Bonds shall be payable from the Transit System Sales Tax revenues after deducting State administrative expenses and distribution to the cities.

.. Manager's Background
At the April 8, 2008 meeting of the Board of County Commissioners (Board), Commissioner Diaz requested detail of the projects for the Bus and Rail Facility Improvements category of the Series 2008 Transit System Sales Surtax Revenue Bond (Agenda Item 8E1D). The item was amended to exclude those Transit projects, in the amount of $27,678,000, from the capital projects approved for funding from the proceeds of the Series 2008 bonds.

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The short and long term capital priorities for use of the one-half penny transit sales surtax or bond proceeds backed by that funding source are clear: construction of the Orange Line, replacement of the existing rail fleet and Mover Phase I and Phase II vehicles, and implementation of the new fare collection system. The information provided below serves to describe current activities relating to the programming and future use of sales surtax revenue bond proceeds as it relates to these priorities. The original amount of funds requested for each project was based on the projected cash flow requirements over the next eighteen months. In response to questions raised by Commissioner Diaz, the projects were prioritized, the funds within the $27,678,000 were reallocated and the full amount needed to complete the selected project was used instead. After this review, approximately $1.2 million of the $27,678,000 not allocated to these prioritized projects was allocated to the previously approved Fare Collection System replacement which is a priority project.



While Miami Dade Transit (MDT) continues to prepare a revised long-term financial plan to address construction of the Orange Line and the other priorities, financing proceeds are necessary for cash flow purposes to continue to fund all or a portion of ongoing capital projects approved within prior fiscal years� and within the current fiscal year�s Adopted Capital Budget and Multi-Year Capital Plans. These ongoing projects were approved as part of the People�s Transportation Plan Miscellaneous Projects list (October 2003) and are the projects that make up the list of Bus and Rail Facility Improvements as follows. The attachment provides detailed information on the scope of work, cost estimates and status for each of the projects.



Project Description Status Amount Revised Revised
Previously Status Amount
Requested
Based on the
Cash Flow


1.Bus Garages Construct a new bus Not Started 8,764,000 Project 0
maintenance facility Deferred
2. Upgrade Illumination Continuous improvement and replacement of the lighting system for the existing 22 Metrorail stations and 16 parking garages Under
Construction
1,471,000 Under
Construction
2,169,000
3. Bus Pull Out Bays Alleviate traffic congestion and allow the bus to pick up and drop off passengers out of the flow of traffic Under
Construction 3,886,000 Project
Deferred 0 4. Bus Stop Signage Continue replacement of the old bus stop inventory countywide with on-site route schedules and maps and general transit information in three languages (English, Spanish and Creole) Nearing
completion
166,000 Nearing
completion
242,000 5. Replace Hydraulic & Piston Lift (Bus Garages) Replace hydraulic and piston lifts at all bus garages with hydraulic lifts Installation in
Progress
1,444,000 Installation in
Progress 4,769,000 6. Bus Washer/Vacuum Replacement Replace bus wash and vacuum facilities at the existing Central, Northeast and Coral Way Bus Facilities Installation in
Progress 2,736,000 Installation in
Progress 2,619,000 7. Replace Escalators & Canopies (Mover and Rail) & Mover Oil Water Separators Repair and/or install escalators, canopy covers and oil-water separators (DERM requirement). Installation in
Progress 1,553,000 Installation in
Progress
Revised amount is limited to oil water separators only. 867,000 8. Replace Elevators (Mover, Rail, NE, Coral Way, Central) Replace elevators at Bus and Rail facilities. Not Started 1,553,000 Project
Deferred 0 9. Replace Rail Vehicle Washer Replace Rail Vehicle Washer at Lehman Center Nearing completion

1,000,000 Project
Completed 0 10. Pedestrian Overpasses Construction of pedestrian overpasses to provide e safe, pedestrian friendly crossing of U.S. 1 to access the South Miami and University Metrorail Stations In Design;
South Miami
Project
on hold
3,105,000 In design phase 10,130,000 11. Station Refurbishment - Facilities Roof Project, all facilities Replace rail and bus facility roofs, upgrade lightening protection and seal skylights at all MDT Metrorail stations and other bus and rail facilities Under
Construction 2,000,000 Under
Construction 5,644,000 12. Fare Collection System Replacement Cost to replace the fare collection system for the entire MDT system Contract Awarded 0 Contract Awarded 1,238,000 Total 27,678,000 27,678,000

The Board should expect that MDT will have to make future necessary adjustments to not only this list, but also to the multi-year capital plan including modifying scope of, elimination of, and/or replacement of projects as part of its effort to continue the rehabilitation and modernization of the transit system. To the extent capital project adjustments or reallocations of bond proceeds are recommended within the FY 2008-09 Proposed Resource Allocation Plan due to these adjustments, the Board will be provided with an updated list of transit projects qualifying for funding with the proceeds obtained through this surtax-backed financing as part of the budget process.

Approval of the attached resolution would amend Resolution No. R-319-08 to include the above listed projects among the capital projects approved for funding from the proceeds of the Series 2008 Miami-Dade County, Florida Transit System Sales Surtax Revenue Bonds.

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Assistant County Manager