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Attachment 2 <br />ORANGE COUNTY, DURHAM COUNTY and RESEARCH TRIANGLE REGIONAL <br />PUBLIC TRANSPORTATION AUTHORITY <br />INTERLOCAL AGREEMENT FOR <br />COST SHARING FOR LRT RAIL PROJECT <br />This Interlocal Agreement ("Agreement") dated 2012 is <br />entered into by and between Orange County ("Orange"), a political subdivision of the <br />State or North Carolina, Durham County ("Durham"), a political subdivision of the State <br />of North Carolina, and Research Triangle Regional Public Transportation Authority, <br />d/b/a Triangle Transit ("TTA"). Durham, Orange, and TTA may be referred to <br />individually as "Party" and collectively as "Parties". This Agreement is made pursuant to <br />Article 20 of Chapter 160A of the North Carolina General Statutes. <br />Whereas, the Parties each desire to provide for the future transportation needs of <br />Durham and Orange, understanding that enhanced mobility options will support a high <br />quality of life, strengthen economic development, and enhance sustainability; and <br />Whereas, Durham and Orange mutually desire to support and share the costs for <br />the planning, construction, operation, and maintenance (collectively "Costs") of a 17.3 <br />mile passenger rail service running from Durham to Orange along a corridor as outlined <br />in Attachment One, containing 17 stations, four of which are located in Orange County, <br />and utilizing light rail vehicles (`LRT Project") as an important element in meeting their <br />future transportation needs and supporting efficient, sustainable development patterns; <br />and <br />Whereas, the Parties acknowledge that the LRT Project will be managed, <br />planned, constructed, maintained and operated by the TTA according to each <br />jurisdictions Bus and Rail Investment Plans ("BRI Plans") as respectively adopted or <br />subsequently modified by the Parties, which plans, once adopted shall be incorporated <br />herein by reference; and <br />Whereas, pursuant to NCGS §105-508.2 (Article 43) and Chapter 105 Articles 50 <br />and 51, revenues will be collected by the Secretary of the North Carolina Department of <br />Revenue and distributed to TTA to fund public transportation in TTA's jurisdiction <br />including the construction, maintenance and operation of the LRT Project; and <br />Whereas, the Parties have bargained to agreement on an equitable division of <br />responsibility to pay for the Costs of the LRT Project. <br />Now therefore, in light of the mutual covenants contained herein and provided <br />that the LRT Project moves through planning and construction as set forth in the BRI <br />Plans as may be modified from time to time, the Parties hereby agree as follows: <br />25 <br />The total capital cost for the LRT Project through 2035 is estimated to be <br />$1.378 billion dollars as of the date of this Agreement. For purposes of this <br />