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CALLED TO ORDER at 12:04 p.m.

ROLL CALL: Members Present:  Gage, Kennedy, Williams

Members Absent:   Dando, McHugh, Pirzynski

A quorum was present.

PUBLIC PRESENTATIONS

There were no Public Presentations.

ORDERS OF THE DAY

There were no Orders of the Day.

CONSENT AGENDA

Approved the Regular Meeting Minutes of November 20, 2003.

Received and filed the Report on Santa Clara Valley Transportation Authority Investments for the month of October 2003.

Received and filed the Monthly Legislative Reports.

REGULAR AGENDA

Approved submitting a recommendation to the Board of Directors to authorize the General Manager to execute a contract with FCI Constructors, Inc/Pavex Joint Venture, the lowest responsible bidder, in the amount of $44,173,465 for construction of the I-880/Coleman Avenue Interchange Project in the City of San Jose.   The contract award is contingent upon final action on the sale of GARVEE Bonds by the California Transportation Commission anticipated in January 2004.  The project is 97 percent federally funded.

Approved submitting a recommendation to the Board of Directors to approve the 2004 State Legislative Program for the Santa Clara Valley Transportation Authority (VTA).

Approved submitting a recommendation to the Board of Directors to approve the 2004 Federal Legislative Program for the Santa Clara Valley Transportation Authority (VTA).

Approved submitting a recommendation to the Board of Directors to adopt a support position for Regional Measure 2, which deals with San Francisco Bay Area bridge tolls.

Approved submitting a recommendation to the Board of Directors to adopt a Financial Stability Strategy, which includes revenue enhancement measures recommended by the Ad Hoc Financial Stability Committee.

Approved submitting a recommendation to the Board of Directors to consider amendment to Fare Tariff Resolution 03.06.09 relating to the San Jose State University Transit Access Program.

OTHER ITEMS

Reviewed the FY 2002/2003 Comprehensive Annual Financial Report (CAFR).

Reviewed Committee Work Plan.

Committee Staff Report: Heard a report, that sales tax revenues were higher than expected. 

Chairpersons Report: Heard a report, regarding the changes in the economy and signs of economic recovery and thanked staff and noted appreciation for staffs diligent work. 

Thanked the A&F Committee Members and VTA Staff for their support. 

Thanked and noted that Member Kennedy will be missed.  Thanked VTA Staff for their diligent work and assistance with the Ad-Hoc Financial Stability Committee. 

Thanked VTA Staff for their diligent work and response to the demands of this year and for a job well done.  Noted the Board of Directors appreciation for diligent work performed by VTA Staff.

Determine Consent Agenda for the January 8, 2004 Board Meeting

CONSENT: Agenda Item # 7., Authorize the General Manager to execute a contract with FCI Constructors, Inc/Pavex Joint Venture, the lowest responsible bidder, in the amount of $44,173,465 for construction of the I-880/Coleman Avenue Interchange Project in the City of San Jose.  The contract award is contingent upon final action on the sale of GARVEE Bonds by the California Transportation Commission anticipated in January 2004.  The project is 97 percent federally funded and Agenda Item #10., Adopt a support position for Regional Measure 2, which deals with San Francisco Bay Area bridge tolls.

REGULAR:   Agenda Item # 8., Approve the 2004 State Legislative Program for the Santa Clara Valley Transportation Authority (VTA); Agenda Item # 9., Approve the 2004 Federal Legislative Program for the Santa Clara Valley Transportation Authority (VTA); Agenda Item # 11., Adopt a Financial Stability Strategy, which includes revenue enhancement measures recommended by the Ad Hoc Financial Stability Committee and Agenda Item # 12., Consider amendment to Fare Tariff Resolution 03.06.09 relating to the San Jose State University Transit Access Program.

Closed Session at 1:00 p.m.

Reconvened to Open Session at 1:12 p.m.

Closed Session Report

There was no reportable action taken during Closed Session.

Announcements

Noted the next Administration and Finance Committee Meeting is scheduled for Thursday, January 22, 2004 at noon.

ADJOURNED at 1:14 p.m.