Agenda - 05-16-2017 - 8-a - Minutes

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17 1 Travis Myren said that is right in terms of financial exposure, but there are other 2 responses listed in #14 that would not require the application of additional local funds. 3 Commissioner Jacobs asked what would happen if the three parties decide that they 4 want to start cutting the line in Orange County, and it is a 3-1 vote. He asked if the BOCC 5 would want to continue funding a system that is not beneficial to Orange County. He said there 6 should be opportunity for recourse, and a process that is more amenable to their relationships. 7 Commissioner Rich said mediation could help with this. 8 Commissioner Jacobs said mediation should have a time limit in place. 9 Commissioner McKee said once Orange County has spent over$100 million, even he 10 would not walk away though he has opposed this plan from the beginning. He said he would 11 still walk away at this point, but not at some future point when so much money has been 12 invested. He said this sentiment would likely effect future boards as well. 13 Commissioner McKee referred to #14 and said the language calls for meetings and 14 good faith efforts, which gives him comfort. He said the Board has a fiduciary responsibility to 15 the people of Orange County. He asked if the County could be required to put in additional 16 resources. 17 John Roberts said he understood Davenport's presentation to say that the County could 18 be required to do that if it had agreed to be a backstop for GoTriangle, or for the project in 19 some other way. 20 Ted Cole said Davenport was trying to convey that Orange County may be required to 21 contribute additional revenue in order to maintain the viability of the project, regardless of 22 whether there is a contractual requirement to do so. He said the Board may decide to 23 contribute even if there is not a contractual obligation. 24 Commissioner McKee referred to page 11 of the April 4th presentation, and said he does 25 not read the language the same way. 26 Ted Cole said the intent of the language is that Orange County may be required to 27 spend additional funds, based on a previous commitment to do so; or the BOCC may decided 28 to commit funds, even without the requirement to do so. 29 Commissioner McKee said if the withdrawal language is included, he hears GoTriangle 30 saying that the FTA will not commit funds; but without the withdrawal language, he feels Orange 31 County has no teeth. 32 Commissioner Marcoplos asked if there is a way to contact someone at the FTA to find 33 a way to protect the County's financial health. 34 Katharine Eggleston said the FTA will not review a draft and provide feedback. She 35 said it is GoTriangle's experience that the FTA will not provide help at this point, and she said 36 without a full commitment agreement the FTA is unlikely to provide funding. 37 Commissioner Marcoplos asked if there is any way to read the FTA's denials of other 38 projects. 39 Katharine Eggleston said FTA shared this information verbally on the phone. 40 Commissioner Burroughs said she is a grant writer, and this feedback from the FTA 41 does not surprise her at all. She referred to provision #15, and asked if GoTriangle has 42 concerns about this point and the potential reaction of the FTA. 43 Travis Myren said no one has expressed concerns about that provision. 44 Commissioner Burroughs said that is good, because this provision gives her comfort. 45 She said she does not expect, or want to see a situation, where part of the line is cut. She said 46 she is interested to see what the attorneys can create. 47 Commissioner Price said she concurred with Commissioners Jacobs and McKee, and 48 the Board needs to be able to control Orange County's funds. She said a provision for 49 unilateral withdrawal may not sit well with the FTA, but she thinks the County needs to have 50 some control. She said she is also concerned about another recession, and lost revenues.