JPA to discuss revised finance plan
The Capital SouthEast Connector Joint Powers Authority (JPA) on Jan. 10 will have another opportunity to approve the revised finance plan for the proposed road that could connect Interstate 5 to El Dorado County through Elk Grove.
Kammerer Road west of Highway 99 and Grant Line Road east of Highway 99 are major stretches of the proposed 35-mile expressway route.
JPA officials at their last two meetings were scheduled to discuss and possibly approve an updated plan of finance. But JPA staff wanted all five elected officials in attendance to cast a vote, and a member missed the last two meetings of 2013.
The board approved the initial finance plan last March at a projected cost of $726 million. An updated version in August dropped the project cost to about $456 million.
Legislation approved by Gov. Jerry Brown last fall that would allow one company or one team of companies to design and build the connector could cut another $40 million from expected expenditures.
The version JPA officials will discuss on Jan. 10 includes a “reduced growth scenario” that is related to available revenue resources. A large chunk of the funding for the connector is to come from Measure A.
Measure A started when Sacramento County voters in 1988 approved imposing a countywide one-half percent sales tax for roadway and transit improvements. Voters in 2004 approved extending the 20-year Measure A program for another 30 years.
The “reduced growth scenario” could lead to a drop in Measure A funding along with state and federal dollars that could go toward building the connector and paying off the loan.
JPA staff wrote in the report to the board that the plan of finance decreased the proposed total project expenditure to $311 million. However, even under that scenario, the entire connector will still be a four-lane project.
Another item on the agenda is the selection of a chair and vice chair for 2014. The JPA typically follows a rotation, so Sacramento County Supervisor Don Nottoli, whose district includes Elk Grove, is expected to move from his vice chair seat into the chair’s role.
If the rotation continues, Elk Grove City Council Member Pat Hume would become the vice chair of the JPA.
The JPA meeting will begin at 8:30 a.m. on Jan. 10 at the Rancho Cordova City Hall, 2729 Prospect Park Drive in Rancho Cordova.