Minutes 10-02-2012 - Laserfiche WebLink

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"Party" and collectively as "Parties". This Agreement is made pursuant to Article 20 of Chapter 160A of the North Carolina General Statutes. The Parties each desire to provide for the future transportation needs of Orange County and the surrounding region, understanding that enhanced mobility options will support a high quality of life, strengthen economic development, strengthen human services transportation, support air quality goals, and enhance sustainability; and In accord with NCGS 105-508 et seq. ("Intermodal Act"),TTA developed a financial plan denoted as the Orange County Bus and Rail Investment Plan ("Plan") to set forth certain transit investments over the next twenty-three years. This Plan has been reviewed and approved by the Orange County Board of County Commissioners ("BOCC") subject to the approval by the BOCC of a satisfactory Interlocal Implementation Agreement, approved in a similar fashion by the TTA Board of Trustees, and approved in concept subject to a satisfactory Implementation Agreement by the Durham Chapel Hill Carrboro Metropolitan Planning Organization ("DCHC"). In order to provide for effective implementation of the Plan, the Parties hereby agree to the following provisions and procedures: 1. The Orange County Bus and Rail Investment Plan is incorporated into this Agreement in full and as it may be amended from time to time by reference. Except as otherwise provided in this Agreement the Plan shall govern the allocation of funding, cost parameters and timetables for delivery of projects and transit services, and the respective roles of the Parties and transit agencies in provision of the projects and services called for therein. 2. Pursuant to the Levy of Transit Sales Tax Agreement between Orange and TTA dated May 29, 2012,TTA reaffirms its commitment not to levy the %z cent transit sales tax until the Orange BOCC adopts a resolution requesting TTA to take such action. 3. Orange, Durham County ("Durham"), and TTA have previously executed an agreement dated May 15, 2012 which allocates the shares of capital and operating expenses for the LRT rail project set forth in the Plan, and that Cost Sharing agreement is incorporated into this Agreement in full and as it may be amended from time to time by reference. 4. TTA agrees to provide reports to Orange and DCHC on the progress achieved toward implementation of the Plan and any substantial developments in revenues received, project or service cost experienced, or other pertinent factors under the Plan on an annual basis on or before November 15Y of each year and as otherwise reasonably requested. 5. TTA shall work with the Chapel Hill Transit (CHT), Orange Public Transit ("OPT"), and any other Orange County bus transit service provider named in the Plan to develop the process for distribution of funds for bus services each year on a quarterly basis or as otherwise agreed. For purposes of this Agreement the term "bus services" shall include both fixed route and demand response services. As is consistent with the revenues received and the other transit priorities under the Plan,TTA will provide estimated quarterly payments to the bus service