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14 <br /> 1 Patrick McDonough said if these opportunities do not exist, then this portion will come <br /> 2 out of the plan. <br /> 3 Travis Myren gave a brief overview of the draft cost share agreement found in <br /> 4 Attachment A, page 5. He made the following PowerPoint presentation: <br /> 5 <br /> 6 Durham-Orange Light Rail Cost Sharing Agreement & Orange County Transit Plan <br /> 7 April 20, 2017 Work Session <br /> 8 Whitted Meeting Facility <br /> 9 <br /> 10 Work Session Topics <br /> 11 0 Durham-Orange Light Rail Cost Sharing Agreement <br /> 12 • Discuss the financial scenario to be included in the draft Agreement - Davenport <br /> 13 & Company to review three scenarios <br /> 14 • Discuss provisions contained in the Draft Cost Share Agreement <br /> 15 • Discuss changes to the Orange County Transit Plan <br /> 16 • Review approaches to increasing available bus hours <br /> 17 • Direct staff to prepare final draft documents for consideration by the Boards of <br /> 18 Commissioners, GoTriangle Board of Trustees, and the MPO <br /> 19 <br /> 20 Cost Share Agreement Provisions <br /> 21 0 Share of Orange County Capital Cost (#7) <br /> 22 • Scenario M — 18% <br /> 23 • Scenario Z— 16% <br /> 24 • Scenario EE — 16.5% <br /> 25 0 Private funds contribution of two percent (#8) <br /> 26 • Monetary and in-kind contributions <br /> 27 • $18 million applied to Orange County <br /> 28 • Must be committed by the time Full Funding Grant Agreement is <br /> 29 submitted —estimated in calendar 2019 <br /> 30 0 Allocation of Operating Cost (#10) <br /> 31 • Scenario M — 20% <br /> 32 • Scenario Z— 19% <br /> 33 • Scenario EE — 20% through 2036; 19% after 2036 <br /> 34 0 Federal and State Funding Contingency (#13) <br /> 35 • Funding not available or reduced in an amount that requires additional <br /> 36 local funds, parties must meet within fifteen days. <br /> 37 • Responses include delay, suspension, phasing, scope reductions, <br /> 38 discontinuation, outside revenue sources <br /> 39 • If consensus is not reached, Board of County Commissioners may vote to <br /> 40 withdraw from agreement <br /> 41 0 Cost Overruns or Funding Shortfall Contingency (#14) <br /> 42 • Quarterly reports to monitor costs and revenue <br /> 43 • Decrease from projected revenues of 5% or more as set in the 2017 Plan <br /> 44 • Increase in project cost included financing of 5% or more <br /> 45 • Increase in projected operating costs of 5% or more <br /> 46 • Same responses triggered. <br /> 47 <br /> 48 Travis Myren said that GoTriangle has suggested an amendment that if a consensus <br /> 49 cannot be reached, then mediation would occur. <br />