Special VTA Committee to Seek Resolutions for Financial Stability2/7/2018 9:44 AM |
For the next four months, three members of VTA’s Board of Directors will work together with more than a dozen community groups to seek out ways to improve the Valley Transportation Authority’s financial stability. The agency is facing a $20 million structural deficit in fiscal year 2018 and $26 million in 2019. The VTA Board of Directors approved the formation of an Ad Hoc Financial Stability Committee at its February 1 meeting.
Anticipated to meet on a monthly basis between February and June 2018, the committee will provide recommendations and approaches to address VTA’s immediate and long-term financial challenges. The committee will take a close look at the current budget, future economic outlook, and Board adopted policies and priorities to address the shortfall and submit recommendations to the VTA Board of Directors.
Through the work of this committee, VTA will have a better understanding of what steps it may need to take to become more financially stable and provide the critical transit service, congestion management and construction of transportation projects that local communities rely on.
Serving on the committee will be Board Members Cindy Chavez (Santa Clara County), Johnny Khamis (District 10, City of San Jose) and Ex-Officio Board Member Jeannie Bruins (City of Los Altos). Joining these members are one representative and one alternate from the following organizations:
- VTA Policy Advisory Committee (PAC)
- VTA Citizens Advisory Committee (CAC)
- VTA Committee for Transportation Mobility and Accessibility (CTMA)
- Santa Clara County City Managers Association
- Santa Clara Coalition of Chambers of Commerce
- Silicon Valley Leadership Group (SVLG)
- Transit Justice Alliance
- Amalgamated Transit Union Local 265(ATU)
- Service Employees International Union Local 521 (SEIU)
- Transportation Authority Engineers & Architects Association Local 21 (TAEA)
- American Federation of State, County, and Municipal Employees Local 101 (AFSCME)
- South Bay AFL-CIO Labor Council