Agenda - 04-27-2017 - 1 - Consideration of the Final Draft Durham – Orange Light Rail Cost Sharing Agreement and Final Draft Orange County Transit Plan

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83 Orange County Transit Plan April 25, 2017 accounted for in specific infrastructure project delivery or allocated to service delivery, but are essential to the implementation of the Plan. The Staff Working Group will develop a format for project- specific agreements for all bus facility projects, vehicle purchases, and major capital projects except the D-O LRT Project for which a project-specific agreement has already been In conjunction with the execution of this Plan, Durham County developed (see Section 6.2). These agreements will include and Orange County are executing a Cost-Sharing Agreement expectations on funding, responsibilities, schedule, and specific to the D-O LRT Project.This agreement commits the use performance. The project agreements will also require of a portion of the Tax District Revenues contributed by adherence to minimum state or federal standards (e.g., Durham County and Orange County to fund the local share of Americans with Disabilities Act). D-O LRT Project costs. The agreement also establishes the shares of those costs attributable to each of the counties that The Staff Working Group will also develop a format for project- will be borne by these Tax District Revenue.The cost shares will specific agreements for operating projects. These agreements be applied to the planning, engineering, financing, shall state details of the services to be provided and construction, maintenance, and operating costs of the D-O LRT expectations on funding, responsibilities, schedule, and Project. performance. The agreement also sets forth regular quarterly reporting Agreements will be established between the project or service requirements from GoTriangle to the two counties regarding sponsor and GoTriangle. the progress of the project, including any significant cost overruns or unmitigated funding shortfalls. If significant cost overruns or unmitigated funding shortfalls are encountered or anticipated, the parties agree to meet within 15 business days GoTriangle's Triangle Transit Tax District annual fiscal year(July to decide upon a course of action for the D-O LRT Project. 1 through June 30) budget, includes projections of revenues by source and expenses by category, including transfers to The Cost-Sharing Agreement defines the joint commitment of specified project and service sponsors. The budget is adopted Tax District Revenues to the D-O LRT Project, including the by the GoTriangle Board of Trustees by June 30 of each year. division of responsibility for capital, O&M, and state of good repair costs. The cost splits attributed to each county for these categories will be reviewed by the county Boards of Commissioners every four years. Final Page 59 of 65