TO: WCCTAC Board MEETING DATE: April 26, 2024
FR: Leah Greenblat, Transportation Planning Manager
RE: FY 24-25 Annual STMP Fee Adjustment
REQUESTED ACTION
Information only.
BACKGROUND AND DISCUSSION
The 2019 STMP Update became effective on July 1, 2019. The Master Cooperative Agreement, signed by all partner agencies, specifies an automatic annual fee adjustment so that the fees keep up with construction related inflation. The agreement specifies that the fee adjustment is based on the Engineering News Record’s February San Francisco Bay Area Construction Cost Index that covers the prior twelve months. This year that rate was 0.7%.
WCCTAC staff is in the process of notifying partner agencies of this impending annual fee adjustment, which becomes effective July 1, 2024, so it may be incorporated into their local fee schedules.
Given the recent state of inflation, this year’s fee increase is surprisingly low especially compared to last year’s adjustment which was 7.1%. It should be noted that Engineering New Record’s Bay Area Construction Cost Index is a tool commonly used by jurisdictions to make annual fee adjustments. The implementation of a different fee increase would require all six member jurisdictions to amend the Master Cooperative Agreement and related ordinances.
The FY 23-24 and FY 24-25 STMP fees are shown below.
The STMP Quarterly Reporting form for FY 24-25 is included as an attachment. Local agency staff should begin using this version to report STMP fees after July 1, 2024.
ATTACHMENT
A. FY 2024-2025 STMP Quarterly Reporting Form