Title
Approval of the Regional Transit System (RTS) Transit Asset Management Plan for FY 18/19 (B)
This item involves a request for the City Commission to approve the RTS Transit Asset Management Plan (TAM) for FY 18/19.
Explanation
To maintain eligibility for Federal Transit Administration (FTA) funding, RTS must develop and maintain a Transit Asset Management Plan. FTA requires agencies to update their TAM annually; this is the first year that the TAM Plan has been required. The TAM outlines the maintenance of transit assets.
The Federal Transit Administration (FTA) released a final rule outlining Transit Asset Management (TAM) requirements on July 26, 2016 in accordance with the Moving Ahead for Progress in the 21st Century (MAP-21) transportation bill. The final rule requires every transit agency to develop and adopt a TAM Plan no later than October 1, 2018 and to update this plan every four years. RTS requested and was granted a 90 day extension on the deadline. The TAM Plan is the transit agency’s commitment to effectively manage its capital assets and maintain a State of Good Repair (SGR) to support safe, efficient, and reliable transit.
The Transit Asset Management (TAM) Plan provides a “blueprint” of how RTS intends to implement the requirements of Transit Asset Management. TAM requires RTS to ensure its capital assets remain in a “state of good repair” (SGR) by monitoring and managing those assets to enhance safety, reduce maintenance costs, increase reliability, and improve performance. RTS is required to set SGR performance measures and develop performance targets based on those measures. RTS’s capital investment priorities must reflect these SGR targets. The preparation of the TAM Plan is the first step in what will be an ongoing process that requires continuing attention to achieve and maintain RTS’s safety performance targets. In accordance with the Moving Ahead for Progress in the 21st Century (MAP-21) transportation bill, passed in ...
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