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28 <br /> 1 • Non-binding MOU to work with GoTriangle and other community partners to identify <br /> 2 funds to complete the D-O LRT Project <br /> 3 • The counties are not being asked to invest any additional funds for the project at this <br /> 4 time <br /> 5 Jan. - Apr. 2017 <br /> 6 • Revise and finalize financial plan <br /> 7 • Monthly Transit Plan financial updates to County, MPO, and GoTriangle Boards <br /> 8 Mar. 2017 <br /> 9 • Present for information the full GEC and PMC contracts <br /> 10 Apr. 2017 <br /> 11 • County, MPO, and GoTriangle Boards review updated Transit Plans with potential <br /> 12 additional revenue assumptions <br /> 13 • Execution of GEC and PMC contracts required to maintiain proposed construction <br /> 14 schedule <br /> 15 <br /> 16 Next Steps <br /> 17 • Obtain approval from Orange (Dec. 5) and Durham (Dec. 12) Boards of County <br /> 18 Commissioners to submit financial plan to FTA that includes potential additional local <br /> 19 funding: <br /> 20 o "Subject to and contingent upon any authorizations required by Orange County, <br /> 21 including the Orange County Board of Commissioners, Orange County agrees to <br /> 22 cooperate with the local municipalities and work together to identify, develop, <br /> 23 and implement additional funding mechanisms to directly support the D-O LRT <br /> 24 Project." <br /> 25 • Obtain similar approvals from MPO (Dec. 14, 2016) <br /> 26 • Continue to work with local partners to identify potential additional local revenue sources <br /> 27 prior to approving full GEC and PMC contracts in April 2017 <br /> 28 • Note: No additional local funds will be spent on the D-O LRT Project prior to receiving a <br /> 29 Full Funding Grant Agreement (FFGA) from FTA in 2020 <br /> 30 <br /> 31 Questions <br /> 32 <br /> 33 Commissioner Burroughs asked John Roberts if this is a non-binding agreement. <br /> 34 John Roberts said it is non-binding for the time being. He said if the Board of County <br /> 35 Commissioners looks for additional funding, it creates the expectation that it will implement that <br /> 36 funding, but the Board is not obligated to implement that funding, under this agreement. He <br /> 37 said he drafted additional language, which can be added to the agreement. <br /> 38 Commissioner Burroughs said revenue assumptions are going to be discussed by <br /> 39 GoTriangle in April, and asked if GoTriangle will have heard from Orange County, at that point, <br /> 40 regarding its commitment of funds. <br /> 41 Jeff Mann said yes, April is a progress check. He said it should be known at that time <br /> 42 whether the FTA has cleared to project to move into engineering. He said there will also be <br /> 43 better understanding, at that time, regarding any and all additional funding that may have been <br /> 44 secured. <br /> 45 Commissioner Burroughs said to Bonnie Hammersley that April is a pivotal time in the <br /> 46 County's budget process, and asked if she had an idea at what point the Board would make <br /> 47 another decision on how much funding it would commit. <br /> 48 Bonnie Hammersley said April would be a hard stop, and staff would be working with <br /> 49 Durham County and GoTriangle, up to that time, and would bring back any updates to the <br /> 50 Board of County Commissioners. <br />