SUISUN CITY — Solano Transportation Authority directors are scheduled to meet at 6 p.m. Wednesday via the Zoom teleconference platform to consider a two-year budget plan as well as a 10-year loan to build a new home in Suisun City.
Actions items on the agenda include a revision to the 2020-2021 budget and consideration of the 2021-2022 spending plan; a lease-purchase financing agreement for the agency’s planned new building in Suisun City; and approval of the 2021-2022 SolanoExpress budget.
The agency typically operates on a two-year budget cycle but opted in June to approve a one-year budget for 2020-2021 due to the economic uncertainly related to the novel coronavirus pandemic. The proposed budget revision takes the current year’s budget from $36.02 million to $33.59 million, according to the staff report. A budget of $29.67 million is presented for the 2021-2022 fiscal year.
Plans for a new building on the 400 block of Main Street in Suisun City come with a budget of $16.01 million, approved in January. The board is being asked to approve a 10-year, $9 million loan at an interest rate of 3.02% – at a total estimated cost of $11.03 million, according to a staff report and accompanying documents.
The board has 20 minutes set aside to receive and update and discuss the agency’s policy and procedures governing future utility relocations and draft funding options for Vallejo and Benicia waterline relocation costs as they relate to the ongoing Interstate 80/Interstate 680/Highway 12 interchange project.
To watch and participate, go to https://us02web.zoom.us/j/81839443680?pwd=YXBnQmNRVk1aaG9lM0lZYmtMTFJ0QT09. The password is 580979. The Webinar ID is 818 3944 3680. To participate by phone, call 408-638-0968.
An agenda for the meeting can be found at https://sta.ca.gov/meetings-agendas.