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response may include, but not be limited to the following: a schedule delay in one or <br /> more aspects of the D-0 LRT Project; phased implementation of the D-0 LRT Project; a <br /> reduction in the scope of the D-0 LRT Project;suspension of the D-0 LRT Project;working <br /> together to identify and pursue additional funding mechanisms to directly support the <br /> D-0 LRT Project from sources other than the Dedicated Local Transit Revenues; a <br /> combination of these measures; discontinuation of the D-0 LRT Project; or other <br /> reasonable steps to mutually address the situation. <br /> If the Parties elect to discontinue the D-0 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-0 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 event <br /> of significant cost overruns or unmitigated funding shortfalls that require additional local <br /> revenues beyond the County Contributions, as may be reflected in the Quarterly Reports <br /> to FTA, the Parties shall meet within fifteen (15) business days to determine how to <br /> address the situation. Such response may include, but not be limited to the following: a <br /> schedule delay in one or more aspects of the D-0 LRT Project; phased implementation of <br /> the D-0 LRT Project; a reduction in the scope of the D-0 LRT Project; suspension of the <br /> D-0 LRT Project;working together to identify and pursue additional funding mechanisms <br /> to directly support the D-0 LRT Project from sources other than the Dedicated Local <br /> Transit Revenues; a combination of these measures; discontinuation of the D-0 LRT <br /> Project; or other reasonable steps to mutually address the situation. As used herein, <br /> "significant cost overruns or unmitigated funding shortfalls" means either: (i) an annual <br /> decrease in total revenues from the Dedicated Local Transit Revenues as set forth in the <br /> 2017 County Plans, as those Plans may be amended, of 5%or more; or(ii) after entering <br /> the Engineering Phase,an increase in the D-0 LRT Project capital cost(including financing) <br /> as set forth in the 2017 County Plans, as those Plans may be amended,of 5%or more; or <br /> (iii) an annual increase in the overall project operating costs of the D-0 LRT Project as set <br /> forth in the 2017 County Transit Plans,as those Plans may be amended,of 5%or more. <br /> If the Parties elect to discontinue the D-0 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 /> 15. In the event of a significant cost overrun or an unmitigated funding shortfall as set forth <br /> in Paragraphs 13 or 14,representatives of each Party shall meet as set forth in Paragraphs <br /> 13 or 14 to attempt in good faith to resolve the matter(s).All Parties must be represented <br /> by a person with the authority to settle the matter(s) on behalf of the Party.The Parties <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 />