What minimum (and specific) actions must be completed by what dates to satisfy the advanced funding agreement for funds from 121Toll RTR (regional toll revenue)?
The minimum action would be to reject the funding and return it to the Regional Transportation Council. If the project proceeds, the Town would need to proceed with design now and construction within one year of receiving construction funding (i.e. October 1, 2010), and the entire project would need to be completed within 10 years of the execution of the Advance Funding Agreement (i.e. May, 2019). In addition, the Town does have the ability to request amendments to the Advance Funding Agreement and the Transportation Improvement Plan to adjust the project timing.
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