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<br /> APRIL 6, 2017 DRAFT FOR DISCUSSION - NOT FOR SIGNATURE
<br /> WHEREAS, GoTriangle is seeking funds from FTA's Capital Investment Grant (CIG) Program (49
<br /> U.S.C. § 5309)for the D-O LRT Project; and
<br /> WHEREAS, the D-O LRT Project Cost Estimate which is eligible for federal participation, including
<br /> costs related to project development, engineering, construction, testing, commissioning, and start-up
<br /> and financing costs through the anticipated final year of disbursement of federal funds (projected to be
<br /> 2032), is$2,476.3 million year of expenditure (YOE) (New Starts Project Cost); and
<br /> WHEREAS, GoTriangle receives and uses public monies, pursuant to N.C.G.S. Chapter 105,
<br /> Articles 43, 50, 51, and 52, to fund public transportation in GoTriangle's jurisdiction, including the
<br /> planning, financing, construction, maintenance, and operation costs of the D-O LRT Project; and
<br /> WHEREAS, there are four dedicated local revenue sources used to fund the D-O LRT Project and
<br /> other new transit projects and services in Durham and Orange: (1) Article 43 Half-Cent (0.5 percent)
<br /> Sales and Use Tax; (2) Article 50 Five-Percent (5 percent) Vehicle Rental Tax; (3) Article 51 Three-Dollar
<br /> ($3) increase to GoTriangle Regional Vehicle Registration Fee; and (4) Article 52 Seven-Dollar ($7)
<br /> County Vehicle Registration Fee (collectively, Dedicated Local Revenues); and
<br /> WHEREAS, in light of changes to the original funding assumptions in the County BRIPs, the
<br /> Parties have revised their funding strategy for the D-O LRT Project as follows: federal (50 percent), state
<br /> (10 percent), and local/other (40 percent); and
<br /> WHEREAS, the Parties acknowledge that the total non-CIG share of the New Starts Project Cost
<br /> is $1,238.15 million YOE, of which $906 million YOE is to be funded by Dedicated Local Revenues, with
<br /> the remainder planned from state funds, private in-kind donations, and other funds specifically
<br /> identified to fund the Joint Development component of the D-O LRT Project; and
<br /> WHEREAS, in order for the D-O LRT Project to advance to the Engineering Phase of the CIG
<br /> Program (Engineering Phase), at least 30 percent of the non-CIG share of the D-O LRT Project ($371.4
<br /> million YOE) must be deemed "committed" by FTA at entry to the Engineering Phase; and
<br /> WHEREAS, in February 2017, GoTriangle received guidance from FTA explaining that additional
<br /> documentation would be necessary to update the estimated D-O LRT Project cost in the County BRIPs,
<br /> and to confirm that at least 30 percent of the non-CIG share (i.e., at least $371.4 million YOE) is
<br /> committed; and
<br /> WHEREAS, the Parties acknowledge material changes to the County BRIPs have occurred, as
<br /> defined in the 2012 Interlocal Implementation Agreement for Orange County Bus and Rail Investment
<br /> Plan and the 2013 Interlocal Implementation Agreement for Durham County Bus and Rail Investment
<br /> Plan, prompting the Parties to revise the County BRIPs; and
<br /> WHEREAS, on , the Durham County Board of County Commissioners adopted the
<br /> updated Durham County Transit Plan (2017 Durham Plan) and authorized the execution of this
<br /> Agreement; and
<br /> WHEREAS, on , the GoTriangle Board approved the 2017 County Plans and
<br /> authorized the execution of this Agreement; and
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