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6. Transit Center Development funds are allocated on a grant basis. Any <br /> recipient of such a grant award shall enter into a separate agreement with Alameda CTC in <br /> conformance with the Transit Center Development Implementation Guidelines prior to receipt of <br /> such funds. The Transit Center Development Implementation Guidelines provide program <br /> eligibility and fund usage guidelines, definitions, additional requirements, and guideline adoption <br /> details. Said guidelines are hereby incorporated into this AGREEMENT by reference. <br /> ARTICLE 2: PAYMENTS AND EXPENDITURES <br /> A. Alameda CTC's Duties and Obligations <br /> I . Within five working days of actual receipt of the monthly Measure B sales <br /> tax revenues from the State Board of Equalization and VRF revenues from the California <br /> Department of Motor Vehicles, Alameda CTC shall remit to the RECIPIENT its designated <br /> amount of pass - through funds disbursed on a monthly basis by a set formula for distribution. <br /> 2. Alameda CTC shall annually update the Measure B sales tax revenue and <br /> VRF revenue projections and the resulting funds allocation formulas to reflect the most current <br /> population using the California Department of Finance's annual population estimates (Report E- <br /> 1 published in May); maintained road mileage from the Department of Transportation; and the <br /> number of registered vehicles in each Alameda County subarea, using registered vehicle data <br /> provided by the California Department of Motor Vehicles, as it is made available. Alameda CTC <br /> shall use the updated Measure B and VRF program allocation formulas in the allocations <br /> beginning July I of each new fiscal year, which is from July 1 to June 30 in the State of <br /> California. <br />