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1 <br /> ORANGE COUNTY <br /> BOARD OF COMMISSIONERS <br /> ACTION AGENDA ITEM ABSTRACT <br /> Meeting Date: April 27, 2017 <br /> Action Agenda <br /> Item No. 1 <br /> SUBJECT: Consideration of the Final Draft Durham — Orange Light Rail Cost Sharing <br /> Agreement and Final Draft Orange County Transit Plan <br /> DEPARTMENT: County Manager's Office and <br /> County Attorney's Office <br /> ATTACHMENT(S): INFORMATION CONTACT: <br /> A. Final Draft Cost Share Agreement Travis Myren, Deputy County Manager, <br /> B. Financial Analysis of Final Draft Cost Split 919-245-2308 <br /> C. April 25, 2017 Memo from GoTriangle — Financial John Roberts, County Attorney, 919-245- <br /> Model Changes 2318 <br /> D. April 25, 2017 Final Draft Orange County Transit <br /> Plan <br /> E. April 25, 2017 Letter from GoTriangle — <br /> Implementation Agreement Renegotiation <br /> PURPOSE: To consider the final draft of the Durham-Orange Light Rail Cost Sharing <br /> Agreement and the final draft of the Orange County Transit Plan. The Durham County Board of <br /> Commissioners unanimously approved the Cost Sharing Agreement and the Durham County <br /> Transit Plan on April 24, 2017. <br /> BACKGROUND: On April 20, 2017 the Board of Commissioners participated in a work session <br /> to discuss the Draft Durham-Orange Light Rail Cost Sharing Agreement and the Draft Orange <br /> County Transit Plan. Based on feedback received during that meeting, final draft documents <br /> were prepared for the Board's consideration. <br /> Cost Share Agreement <br /> The Final Draft Cost Share Agreement (Attachment A) specifies the amount of funding each <br /> County will contribute to the project. Paragraph #7 specifies Orange County's share of the <br /> project that is eligible for federal reimbursement at $149.5 million. This is consistent with <br /> financial Scenario EE-10 which distributes eighty-one and one half percent (81.5%) of the <br /> capital cost of the light rail project to Durham County, sixteen and one half percent (16.5%) to <br /> Orange County, and two percent (2%) to outside funding. This outside revenue is used to offset <br /> Orange County's contribution to the project. <br /> For operating costs, it distributes eighty percent (80%) to Durham County and twenty percent <br /> (20%) of the operating cost to Orange County through 2036 and eighty-one percent (81%) to <br /> Durham County and nineteen percent (19%) of the operating cost to Orange County through the <br /> end of the debt repayment. <br /> The Cost Share Agreement has been modified to codify the cost shares described above. The <br /> final agreement also reorders paragraphs eight through twelve for readability. Finally, the final <br />