R92-135 AUTHORIZING THE EXECUTION OF A DOWNSTATE OPERATING ASSISTANCE AGREEMENT

Home Browse Search

ITEM 1 - PROJECT SCOPE � Grantee agrees to provide the public transportation services described in its final approved application and program of proposed expenditures approved by the Department, and in accordance with the Act, the Rules, the Standard Forms, and all other applicable laws and regulations. Grantee shall not reduce, terminate, or substantially change such public transportation services without prior written notification to the Department. ITEM 2 - PROJECT BUDGET Under the Act, the Department may enter into a grant agreement to implement Grantee's approved program of expenditures, within the following limitations: 1) not to exceed forty-five percent� (45$) of Grantee's eligible operating expenses incurred by, the Grantee during fiscal year 1993 in the provision of such public transportation services as have been approved by the Department; and 2) in no event shall state funding under this Agreement together with any operating assi�stance received from any federal, state or local agency in fiscal year 1993 exceed Grantee's actual operating deficit for that year. The Department has approved and agrees to make a grant in the amount of $985,806, subject to the limitations contained in this Item, the Act and the Rules. The Approved Pro,ject Budget is shown in Exhibit A, attached to and incorporated into this Agreement. In the event that combined state and federal operating assistance grants for fiscal year 1993 exceed Grantee's actual operating deficit, Grantee agrees to promptly request a decrease in its grant, and shall remit to the State any excess funds received. For purposes of this Agreement� the term "operating deficit" shall have the meaning set forth in Section 2-2.03 of the Act (I11 Rev Stat Ch. 111 2/3, par. 662.03) : "the amount by which eligible operating expenses exceed revenue from fares, reduced fare reimbursements, rental of properties, advertising, and any other amounts collected and received by a provider of public transportation, which, under standard accounting practices, are properly classified as operating revenue or operating income attributable to providing public transportation and revein�.e froa any federal financial assistance received by the participant to defray operating expenses or deficits. For purposes of determining operating deficits, local effort from local taxes or its equivalent shall not be included as operating revenue or operating income." Grantee agrees to commit the necessary local funding to cover costs incurred in providing public transportation which are not , reimbursed under this Agreement or by other federal, state or ' local assistance programs. ' � 3