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14 <br /> then local dollars can be leveraged for federal matches. He said the $65 million would be the <br /> potential local dollars, and the other $65 could be matched with federal dollars. <br /> Patrick McDonough said if these opportunities do not exist, then this portion will come <br /> out of the plan. <br /> Travis Myren gave a brief overview of the draft cost share agreement found in <br /> Attachment A, page 5. He made the following PowerPoint presentation: <br /> Durham-Orange Light Rail Cost Sharing Agreement & Orange County Transit Plan <br /> April 20, 2017 Work Session <br /> Whitted Meeting Facility <br /> Work Session Topics <br /> O Durham-Orange Light Rail Cost Sharing Agreement <br /> • Discuss the financial scenario to be included in the draft Agreement - Davenport <br /> & Company to review three scenarios <br /> • Discuss provisions contained in the Draft Cost Share Agreement <br /> • Discuss changes to the Orange County Transit Plan <br /> • Review approaches to increasing available bus hours <br /> • Direct staff to prepare final draft documents for consideration by the Boards of <br /> Commissioners, GoTriangle Board of Trustees, and the MPO <br /> Cost Share Agreement Provisions <br /> O Share of Orange County Capital Cost (#7) <br /> • Scenario M — 18% <br /> • Scenario Z— 16% <br /> • Scenario EE — 16.5% <br /> O Private funds contribution of two percent (#8) <br /> • Monetary and in-kind contributions <br /> • $18 million applied to Orange County <br /> • Must be committed by the time Full Funding Grant Agreement is <br /> submitted — estimated in calendar 2019 <br /> O Allocation of Operating Cost (#10) <br /> • Scenario M —20% <br /> • Scenario Z— 19% <br /> • Scenario EE —20% through 2036; 19% after 2036 <br /> O Federal and State Funding Contingency (#13) <br /> • Funding not available or reduced in an amount that requires additional <br /> local funds, parties must meet within fifteen days. <br /> • Responses include delay, suspension, phasing, scope reductions, <br /> discontinuation, outside revenue sources <br /> • If consensus is not reached, Board of County Commissioners may vote <br /> to withdraw from agreement <br /> O Cost Overruns or Funding Shortfall Contingency (#14) <br /> • Quarterly reports to monitor costs and revenue <br /> • Decrease from projected revenues of 5% or more as set in the 2017 <br /> Plan <br /> • Increase in project cost included financing of 5% or more <br /> • Increase in projected operating costs of 5% or more <br />