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Exhibit A provided by a local business, the Vera Beach Hotel and Spa(see Attachment#4). According to the agreement,the Vero Beach Hotel and Spa will provide upfront the$40,000 in local matching funds. At this time,the Board needs to approve the agreement in order to accept the funds and apply those funds as the grant's required local match. To incentivize private sector participation in the project,the SRA has agreed to place advertising for the participating business on the beachside circulator bus.In subsequent years,it is expected that the local match will continue to be provided by the private sector. FDOT has confirmed that, should no business be willing to pay the local match, the County will be under no obligation to continue operating the service. The cost to operate the beachside circulator is approximately$200,000 per year. Of this amount,the required local contribution is$40,000.The total amount being made available by FDOT during FY 2014/15 and 2015/16($263,741)is sufficient to fund over 18 months of service.At this time,FDOT has allocated an initial amount of $88,841 to the county to begin the service. During state FY 2015/16,an additional $174,900 will be awarded to the County. If the proposed beachside circulator is successful, FDOT has indicated that it will remain eligible in future years for funding through the Commuter Assistance program. In order to receive the funds for FY 2014/15, the BCC must enter into a Joint Participation Agreement(JPA)with FDOT,a copy of which is attached to this staff report(Attachment#2).The FY 2015/16 funds will be made available through a Supplemental JPA that will be brought before the Board after July 1, 2015. ANALYSIS The attached resolution(Attachment#1)authorizes the Chan n ian w execute the JPA for Commuter Assistance Grant funds. Upon the Board's adoption of the resolution and the Chailman's execution of the JPA, MPO staff will transmit the JPA to FDOT. With respect to the Commuter Assistance Grant program, the county receives the grant funds and transfers those funds to the county's Community Transportation Coordinator and transit provider,the Senior Resource Association(SRA).The SRA, in turn,provides the service as directed by the county arid as identified in the JPA. In this case,the funds will be used to operate the beachside circulator. Because the local matching funds for the first year of service are being provided by the Vero Beach Hotel and Spa,this grant is a public-private partnership. The agreement between the SRA and Vero Beach llotel and Spa (Attachment #4) needs to be approved by the Board so that the county can accept those funds and apply them as the required local match. FUNDING The local match for the first year of beachside circulator service($40,000) is being provided by a local business, the Vero Beach Hotel and Spa. During future years, it is expected that the hotel or another business will provide the local match. FDOT has confirmed that, should no business be i \Commurnly Developmcni\;:scrs\NAP011"ransInCirantsCommumr113eachsidc Circulator120 I 5\Inc miff icpco docx G0115 1-11 5 Page 15