Agenda - 04-20-2017 - 1 - Discussion Regarding the Draft Durham – Orange Light Rail Cost Sharing Agreement and Draft Orange County Transit Plan

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3 responses could include modifying the schedule, reducing or phasing the scope of the project or discontinuing the project. The uncertainty related to project costs and revenue projections is addressed in Paragraph 14. This provision requires GoTriangle to produce quarterly project reports. If those reports demonstrate significant cost overruns or unmitigated funding shortfalls, the Agreement again requires the parties to meet to discuss responses. This provision also provides that if the parties cannot achieve consensus on a response, the Board of County Commissioners may vote to withdraw from the Agreement and amend its Transit Plan accordingly. The uncertainty related to the County's financial exposure is addressed in Paragraph 15 which states that the County is not obligated to use any funds other than transit taxes and fees to pay for the project. Transit Plan Changes The County Commissioners involved in the cost share discussions are also recommending non- financial changes to the Transit Plans as follows. • An evaluation of moving the Gateway station west to increase economic development potential in Orange County. • A provision to protect the New Hope Creek Watershed from any movement of the Patterson Place station. • A provision that requires that any changes to station location or alignment must be approved by all of the parties to the agreement. • Include the joint position to administer the Transit Plan in the Orange County Plan. • A requirement to create an annual work plan that tracks Transit Plan implementation. The work plan would be approved by the parties to the agreement. • A commitment to pursue a strategic partnership for economic development specifically at the Gateway and Woodmont stations. A framework for the partnership would be accomplished by the end of the fiscal year. • A requirement to revisit cost shares every four years as the Transit Plans are updated. The final version of the Transit Plans will be amended to include language addressing these requests. FINANCIAL IMPACT: The Final Draft Cost Share Agreement allocates $149.5 million in Orange County transit taxes and fees to the capital cost light rail project. Over the life of the project debt, the Orange County's total contribution to the project would be between $321 million and $331 million depending on the scenario that is used. SOCIAL JUSTICE IMPACT: The following Orange County Social Justice Goals are applicable to this agenda item: Public Transportation provides opportunity for access to jobs and services to many individuals.