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File #: 18-7284    Name: WMATA Capital Funding Agreement
Type: Status: Agenda Ready
File created: 1/19/2018 In control: City Council Legislative Meeting
On agenda: 6/26/2018 Final action:
Title: Consideration of Approval of a One Year Extension to the Existing Washington Metropolitan Area Transit Authority Capital Funding Agreement.
Attachments: 1. 18-7284 _One Year Extension to WMATA CFA
City of Alexandria, Virginia
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MEMORANDUM



DATE: JUNE 20, 2018

TO: THE HONORABLE MAYOR AND MEMBERS OF CITY COUNCIL

FROM: MARK B. JINKS, CITY MANAGER /s/

DOCKET TITLE:
TITLE
Consideration of Approval of a One Year Extension to the Existing Washington Metropolitan Area Transit Authority Capital Funding Agreement.
BODY
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ISSUE: Council consideration of approval of a one-year extension to the existing Washington Metropolitan Area Transit Authority (WMATA) Capital Funding Agreement (CFA).

RECOMMENDATION: That City Council:

1. Approve a one-year extension by approving a Third Amendment (attached) to the existing WMATA CFA;

2. Authorize the City Manager to sign and execute the FY 2019 WMATA CFA; and

3. Approve the City opting out of up to $11.2 million of WMATA debt issuance by utilizing City CIP funds to pay up to $11.2 million, and thereby save over a 25-year period on future WMATA debt service charged to the City.

BACKGROUND: The CFA has served since FY 2011 as the legal Capital Funding Agreement between WMATA and its contributing jurisdictions, including the City of Alexandria, City of Fairfax, City of Falls Church, Fairfax County, Arlington County, the State of Maryland, and the District of Columbia. The CFA provides a capital funding commitment for WMATA to match Federal funds, to advance capital projects and programs, and to fund ongoing contractual agreements. While it is up to each jurisdiction to decide to fund their respective portion of the CFA, for many decades all contributing jurisdictions have agreed to fund their designated capital shares.

The current CFA was amended and executed in 2017 and covers a one-year period, from July 1, 2017 to June 30, 2018. The CFA expires on June 30, 2018, and an extension, renewal, or replacement of that agreement is needed by that date to ensure the continued progress of Metro's capital program. The new CFA reflects the re...

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