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9 <br /> Olt IIII)ISCUSSION U Olt SRAM IV IIU'° IIIIIIIIII <br /> If, after having meetings in good faith, the Parties do not reach consensus as to <br /> reasonable steps to address the significant cost overrun or unmitigated funding <br /> shortfall, a County Board of Commissioners may vote to withdraw from this Agreement <br /> and amend its county transit plan accordingly. <br /> If the Parties elect to discontinue the D-O LRT Project, the Staff Working Groups' shall <br /> convene within twenty (20) business days to begin the process to develop new transit <br /> plans for Orange and Durham so that funds generated by the Dedicated Local Transit <br /> Revenues can be reallocated. <br /> 14. Upon entry into the Engineering Phase, GoTriangle will produce Quarterly <br /> D-O LRT Project Reports in accordance with FTA requirements (Quarterly Reports) and <br /> will share such Quarterly Reports with FTA, Orange, Durham, and DCHC MPO. In the <br /> event of significant cost overruns or unmitigated funding shortfalls that require <br /> additional local revenues beyond the County Contributions, as may be reflected in the <br /> Quarterly Reports to FTA, the Parties shall meet within fifteen (15) business days to <br /> determine how to address the situation. Such response may include, but not be limited <br /> to the following: a schedule delay in one or more aspects of the D-O LRT Project; <br /> phased implementation of the D-O LRT Project; a reduction in the scope of the D-O LRT <br /> Project; suspension of the D-O LRT Project; working together to identify and pursue <br /> additional funding mechanisms to directly support the D-O LRT Project from sources <br /> other than the Dedicated Local Transit Revenues; a combination of these measures; <br /> discontinuation of the D-O LRT Project; or other reasonable steps to mutually address <br /> the situation. As used herein, "significant cost overruns or unmitigated funding <br /> shortfalls" means either: (i) an annual decrease in total revenues from the Dedicated <br /> Local Transit Revenues as set forth in the 2017 County Plans, as those Plans may be <br /> amended, of 5%or more; or (ii) after entering the Engineering Phase, an increase in the <br /> D-O LRT Project capital cost (including financing) as set forth in the 2017 County Plans, <br /> as those Plans may be amended, of 5% or more; or (iii) an annual increase in the overall <br /> project operating costs of the D-O LRT Project as set forth in the 2017 County Transit <br /> Plans, as those Plans may be amended, of 5%or more. <br /> If, after having meetings in good faith, the Parties do not reach consensus as to <br /> reasonable steps to address the significant cost overrun or unmitigated funding <br /> shortfall, a County Board of Commissioners may vote to withdraw from this Agreement <br /> and amend its county transit plan accordingly. <br /> If the Parties elect to discontinue the D-O LRT Project, the Staff Working Groups shall <br /> convene within twenty (20) business days to begin the process to develop new transit <br /> plans for Orange and Durham so that funds generated by the Dedicated Local Transit <br /> Revenues can be reallocated. <br /> 1 As set forth in the Durham and Orange Implementation Agreements, the Staff Working Group for each <br /> County Plan consists of one voting member and one alternate from each of the following entities: the <br /> applicable county, GoTriangle, and DCHC MPO. <br /> 5 <br />