Title
Resolution to Approve the 2023 Transportation Asset Management Plan Update
Memorandum
Attached for your consideration and approval is an update of the City's Transportation Asset Management Plan. This plan update is required to be submitted to the State of Michigan by October 1, 2023.
The State of Michigan has been actively pursuing Asset Management since 1998 when the Michigan Legislature established the ACT 51 Transportation Funding Committee. Continued support of Asset Management has occurred as the Legislature established the Transportation Asset Management Council (TAMC) in 2002. Asset Management means an "ongoing process of maintaining, upgrading, and operating physical assets cost-effectively, based on a continuous physical inventory and condition assessment." To further advance the goals of transportation asset management, the Michigan Legislature enacted Public Act 325 of 2018, requiring that governmental agencies "shall annually submit a report on infrastructure conditions and investments" to the Transportation Asset Management Council (TAMC) and "include a multi-year program developed through the asset management process."
The City of Ann Arbor, recognizing that a complete asset management program is both a management paradigm and a body of management practices applied to its total capital assets, in 2020 prepared the most recent Transportation Asset Management Plan that was approved by TAMC. The attached plan is the most current update to that approved plan with regards to statistical data and to ensure inclusion of all elements necessary for compliance with Public Act 325 of 2018.
The overall asset management program is geared toward minimizing the total costs of acquiring, operating, maintaining, and renewing all assets within the constraints of limited resources while delivering a level of service that the community desires and regulators require, all at an acceptable level of risk to the organization. The implementation of asset ma...
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