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4 <br /> 1 project funding milestones if the project is approved to move forward including approval of State <br /> 2 funds in June of 2019 and a Federal full funding grant agreement in early 2020. <br /> 3 <br /> 4 Since these external funding commitments have not been secured, the draft Cost Share <br /> 5 Agreement includes provisions that would trigger discussions about the future of the project if <br /> 6 external revenues do not materialize or are reduced in an amount that would require additional <br /> 7 local funding. If these external funding reductions were to occur, the Agreement would require <br /> 8 the counties to meet to discuss responses which would include modifications to the schedule, <br /> 9 reductions in the scope, or discontinuation of the project. The same response would be <br /> 10 triggered if the project experiences cost overruns or if transit taxes and fees do not yield the <br /> 11 amount of revenues projected in the Plan. <br /> 12 John Tallmadge, GoTriangle Regional Services Development Director, made the <br /> 13 following PowerPoint presentation: <br /> 14 <br /> 15 DRAFT ORANGE <br /> 16 COUNTY TRANSIT PLAN <br /> 17 Overview of Draft Plan <br /> 18 Orange County Board of County Commissioners <br /> 19 <br /> 20 Exceptional Transit Can Transform Communities <br /> 21 • Provides Access to Jobs and Housing <br /> 22 0 Mobility for those who don't drive and choice for those who don't want to drive <br /> 23 • Provides Capacity in Congested Traffic Corridors <br /> 24 0 More travel options allow more people to get to and from our downtowns and <br /> 25 universities <br /> 26 • Spurs Economic Competitiveness <br /> 27 0 Attracts companies who are recruiting talent <br /> 28 • Grows the Economy <br /> 29 0 Every $1 invested creates $4 in economic returns: new jobs and businesses, <br /> 30 expanded tax base <br /> 31 • Helps Plan Our Future <br /> 32 0 Guides how and where we develop, protecting open space, creating walkable <br /> 33 places <br /> 34 • Active Living and Better Health <br /> 35 0 Studies show transit users are healthier and happier; air and water are cleaner <br /> 36 <br /> 37 Regional Transit Vision - graph <br /> 38 <br /> 39 Regional Transit Vision - map <br /> 40 <br /> 41 Original Plans <br /> 42 • Goals <br /> 43 • Promised projects & services <br /> 44 <br /> 45 Original Adopted Plans <br /> 46 • Original Bus & Rail Investment Plans adopted: <br /> 47 0 Durham: June 2011 <br /> 48 0 Orange: October 2012 <br /> 49 • New Transit Taxes Levied: <br /> 50 0 Pre-existing Vehicle Rental Tax <br />