 |
| The Transportation Investement Plan will: |
|
 |
• |
Address the current transportation funding shortfall |
| |
• |
Leverage state and federal funds. |
| |
• |
Raise local monies that cannot be taken by the state |
| |
|
 |
|
| |
| |
 |
|
| Funding Shortfall |
| In the past, state and federal gas taxes alone paid for transportation projects. However, transportation revenues are now falling short of needs: |
| • |
$6 billion in transportation monies were taken to balance the state budget |
| |
|
| • |
$43 million yearly loss to Monterey County roads |
| |
|
| • |
Gas taxes no longer keep up with inflation |
|
| |
|
|
| Local Monies |
|
|
| The Plan relies on several sources of funding to raise over $1 billion to make Monterey County's transportation system safer and more effective. |
| |
| Increase State and Federal Matching Funds |
| The Transportation Agency for Monterey County's Plan brings locally-controlled revenues to the table so that we are first in line for scarce state and federal dollars. The Plan will: |
| |
| • |
Raises nearly $1 billion in sales tax revenues |
| |
|
| • |
New local revenues will also help secure and estimated $800 million in state and federal matching funds and regional developer fees. |
|
|