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25 <br /> 1 Recent guidance from the Federal Transit Administration (FTA) indicates that the D-O LRT <br /> 2 project must enter the Final Design phase by February 2017. In order to meet this milestone, <br /> 3 GoTriangle needs the BOCC to approve the attached "non-binding" proposed memorandum of <br /> 4 understanding this month. <br /> 5 <br /> 6 In the future, items for BOCC consideration include: <br /> 7 • April 2017 — Amendments to the Orange County Bus and Rail Investment Plan <br /> 8 (OCBRIP); and <br /> 9 • June 2018 — Decision to commit any local funds included in the financial plan (OCBRIP). <br /> 10 <br /> 11 Durham-Chapel Hill-Carrboro Metropolitan Planning Organization Actions —At its December 14 <br /> 12 meeting, the MPO Board will consider two separate amendments related to the extension of the <br /> 13 D-O LRT Project to NCCU: 1) The extension needs to be included in its Locally Preferred <br /> 14 Alternative (LPA) and 2) The extension needs to be included in its 2040 Metropolitan <br /> 15 Transportation Plan (MTP). <br /> 16 <br /> 17 OCBRIP Amendments — Discussions are currently ongoing with a Staff Working Group to <br /> 18 review and update the OCBRIP financial assumptions and associated services. GoTriangle is <br /> 19 also working with a Funding and Community Collaborative to help identify revenue sources to <br /> 20 close the funding gaps. The OCBRIP amendments will need to be approved by the three <br /> 21 parties (Orange County, DCHC MPO, and GoTriangle) to the Interlocal Implementation <br /> 22 Agreement. <br /> 23 Jeff Mann made the following PowerPoint presentation: <br /> 24 <br /> 25 Durham and Orange Transit Plan Funding Needs <br /> 26 Orange County Board Of Commissioners <br /> 27 December 5, 2016 <br /> 28 <br /> 29 Clarifications <br /> 30 Durham and Orange counties are being asked to provide non-binding letters of intent to <br /> 31 work with GoTriangle and other community partners to identify funds to complete the Durham- <br /> 32 Orange Light Rail Transit Project. The counties are not being asked to invest any additional <br /> 33 funds for the project at this time <br /> 34 The funding gap is approximately $250 Million in Year-of-Expenditure (YOE) Dollars. <br /> 35 In 2016, the North Carolina General Assembly capped available state funding for light rail at <br /> 36 10% of the project's cost, as opposed to the 25% that was previously awarded to two similar <br /> 37 projects in Charlotte <br /> 38 The Federal Transit Administration is still expected to invest 50% in federal funds for <br /> 39 Durham and Orange Counties' light rail project (D-O LRT Project), contingent on the remaining <br /> 40 50% coming from the existing dedicated transit revenues, state, local or other funding sources <br /> 41 Before Durham and Orange counties are formally asked to commit additional funds to <br /> 42 complete their light rail project, GoTriangle will continue to work with the counties, the Funding <br /> 43 and Community Collaborative, and community partners to find ways to reduce the funding gap. <br /> 44 <br /> 45 Durham-Orange LRT <br /> 46 • Funding Gap <br /> 47 • Cost of D-O LRT Project <br /> 48 • Request for Memorandum of Understanding (MOU) to explore additional funding <br /> 49 sources <br /> 50 • Schedule of next steps <br />