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6 <br /> Why is Wake County asking the Special District Partners to approve the Wake Transit Plan? <br /> As a pre-requisite to implementation of the Wake Transit Plan, Wake County must be included <br /> in a special district created in accordance with N.C.G.S. 105-509. To join or expand an <br /> existing district, certain action must be taken by other interested parties, including member <br /> counties and metropolitan planning organizations with jurisdiction within the special district. <br /> As the first step in this process, the Wake County Board of Commissioners voted unanimously <br /> on May 2, 2016 to request GoTriangle to expand the Western Triangle Tax District to include <br /> Wake County and rename said district the "Triangle Tax District". As explained further <br /> below, Wake County's addition to the Special District will require approval of the Wake <br /> County Financial Plan' by your executive boards in accordance with N.C.G.S. 105-508.1. <br /> Why is Wqke County requesting an agreement between the Special District Partners? <br /> The Act requires that prior to the levy of the tax in the Special District, that the board of <br /> commissioners of each county in a multicounty district and all Metropolitan Planning <br /> Organizations with jurisdiction within the special district adopt a financial plan providing for <br /> the equitable use of the net proceeds within or to benefit the special district. (See N.C.G.S. 105- <br /> 508.1). While a written agreement is not required by the Act, it is required by the Governance <br /> Interlocal Agreement. The purpose of the Agreement is to develop a mutual understanding <br /> among the parties as to the financial terms and conditions governing the collection and <br /> expenditure of revenues for transit systems within the Special District in compliance with this <br /> section. A written agreement has been required by Wake County because the transit plans and <br /> preferences of the member counties within the Special District are different and contain <br /> different assumptions. The Agreement (enclosed) is currently in draft form. Wake County is <br /> open to comments and suggested changes, but please note that Wake County has conditioned <br /> its addition to the multicounty Special District on approval of such an Agreement. The <br /> Agreement is the best way to address the differences in the transit investment plans between <br /> the member counties within the Special District and to ensure that each county is capable of <br /> following through with its commitment to voters. <br /> The Agreement also ensures the addition of Wake County to the Special District will not alter <br /> or disrupt the implementation or governance of the Durham-Orange Transit Plan. The <br /> Agreement acknowledges that the transit plans within the Special District are parallel and <br /> separate. To that end, the Agreement provides that 100% of all transit revenues collected on <br /> behalf of Durham and Orange counties will remain solely dedicated and segregated for the <br /> benefit of the Durham-Orange Transit Plan. Likewise, all transit revenues collected on behalf <br /> of Wake County will be segregated and solely dedicated to fund the Wake Transit Plan. To the <br /> extent that there are regional transit projects crossing the jurisdictional boundaries of Wake, <br /> Durham or Orange counties, the Agreement clarifies that nothing restricts the parties from <br /> entering into Cost Sharing Agreements for the same. <br /> 'The Wake County Financial Plan Is Included and Incorporated by reference In the Wake Transit Plan as set forth <br /> on pages 32-36 of the Wake County Transit Plan_ <br /> 3 <br />