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

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19 1 Ihiablle, solledly through lit.> share of the 1DLR, for lit.> portion of any debt or obllligatlion lincurred up to 2 the date of wlithdrawall. 3 IP Iroi oealll 2...........d ui iiilllate�rm 111 wliitlll durawalll onIll wliitlll�miiiI a deflflill ed tliiuim e euriiiod II g d 4 A uu ulladerall wlid:ll drawall pursuant to thlle paragraph 11 may not occur after the dale our vvlbllch the 5 C: artlieo have executed and entered Onto the IC ull11 a dlll g Grant Agreement contemplllated 6 Isereliu . 7 SIhaulld a County Board of Cornmllsslloners e; erellse the ant orllty granted by thllo paragraph 11 and 8 un011ateralllly wlllt draw Ifurvou thllo Agreement that County Board of Cornmllsslloners shall l° have no 9 further oblIllgatllon or pursuant to thlle greerneu d "The wlit drawlO g party shall l° rer alll 10 011ablle, oollelly through lidos are of the II::;tII....II , Ifoury lido portllon of any delbd: or oblIllgatllon 111 curred up to 11 the date of wlid.:ll drawall. 12 13 Chair Dorosin said he wants the BOCC to give some guidance to John Roberts. 14 Commissioner Marcoplos said paragraph 15 protects the County in a lot of ways, and on 15 a lot of issues. He said there is room for a more expanded view of this, and he would like to 16 see what the attorneys come up. He is concerned about the unpredictability of the FTA. 17 Commissioner Burroughs said she takes comfort in paragraph 15, and she is happy with 18 the attorneys meeting and coming back with a proposed solution. She said the potential for 19 withdrawal would not be the topic for which she would vote against this project. 20 Chair Dorosin said he thinks that mediation or arbitration would work, and would not 21 want to include language that would torpedo the project. 22 Commissioner Marcoplos agreed with Chair Dorosin. 23 Commissioner McKee said GoTriangle mentioned mitigation avenues to use if the 24 revenues were not there, and he said one area that would not trigger provision #15, but could 25 trigger concern for the BOCC, is a continuing escalation of local costs. He asked what would 26 happen if the state funding goes to 5%, and the County is still able to pay for escalated 27 expenses out of tax revenues. He sees the County being the only option to bear the cost 28 burden. 29 Danny Rogers, GoTriangle Project Manager, said that scenario would be a trigger, and 30 the agreement has a cap on the County's participation level. He said if the state lowers its 31 funds to 5%, the BOCC would be approached to determine a plan to move forward. He said 32 there is no requirement for additional local revenue from Orange or Durham County. 33 Commissioner McKee said cutting costs has never been presented as an option, but 34 rather only an increase in local funding. 35 Katharine Eggleston said within the next two years leading up to the FFGA, GoTriangle 36 will be pursuing other funding sources. She said the Funding and Community Collaborative 37 (FCC) is private monetary and in-kind contributions. She said the goal of this group is $100 38 million. 39 Commissioner McKee asked if the FCC will be added as a signatory to this agreement. 40 Katharine Eggleston said no. 41 Commissioner McKee asked if the FCC is under any contractual agreement to raise 42 $100 million. 43 Katharine Eggleston said no. She said if state funding decreased, the parties would 44 meet to see if there are alternative funds that can fill the gap, and the FCC funds may fill such a 45 need. 46 Commissioner McKee asked how the BOCC would remove itself from the project, if the 47 unilateral withdrawal language is removed, and the state funding drops to 5% and the BOCC no 48 does not want to absorb the additional 5%. 49 Katharine Eggleston said there may be funds from the FCC, and there may be cost 50 cutting strategies.