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3 <br />Orange County’s adoption of the OCBRIP IIA does set forth, in the second paragraph of Section <br />7, a distribution/allocation formula that can be analyzed each year or as necessary. This IIA <br />formula is not based on per capita, but on an audit of annual local expenditures(combined <br />expenditures ofChapel Hill Transit and OPT with percentage allocation derived by dividing the <br />total by the specific transit provider local expenditure including overhead but without <br />consideration of federal or state financial assistance). <br />Two options exist for the distribution process. They are: <br />A.Orange County receives the tag taxes from the North Carolina Department of Motor <br />Vehicles (NCDMV) and forwards to TTA, who is responsible for further disbursement for <br />services consistent with the OCBRIP and IIA (TTA by agreement, reports on <br />st <br />implementation specifics each year on or before November 1) <br />B.Orange County creates an agreement with NCDMV for direct disbursement of revenues <br />to TTA with similar reporting as noted above each November. <br />The resolutions authorize the County and TTA to move forward with the levy of these taxes. <br />FINANCIAL IMPACT: <br />The financial impact is outlined in the OCBRIP. Please see full report on <br />the Orange County websitehttp://orangecountync.gov/planning/TransitPlan_TaxRef.aspalong <br />with links to other sources. <br />It should be noted that not all funding sources to support the OCBRIP are funded locally with <br />these resolutions. No general fund monies are allocated at this time beyond existing local <br />services. 50% funding from federal sources and 25% funding from state sources are assumed <br />for light rail (LRT) funding. <br />RECOMMENDATION(S): <br /> The Manager recommends the Board: <br />Open the public hearingand receive public comments; <br />Close the public hearing; <br />Decide on Option A or Bas noted abovefor the $7 vehicle registration tax; <br />Request an annual update from TTA on the collection and disbursement of all taxes it <br />is authorized to administer for the OCBRIP; and <br /> Approveand authorize the Chair to sign the three (3)attached resolutions. <br /> <br />