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3 <br /> 1 0 Consider and act on Durham-Orange Light Rail Cost Share Agreement and Orange <br /> 2 County Transit Plan <br /> 3 <br /> 4 Cost Share Agreement Changes <br /> 5 0 Cost Shares (#7 & #12) <br /> 6 • Cost shares memorialized in Cost Share Agreement and Transit Plan <br /> 7 (page 45) <br /> 8 • Capital Cost - $149.5 Million = 16.5% of Local Share <br /> 9 • Operating Cost & State of Good Repair— 20% through 2036 and 19% <br /> 10 thereafter <br /> 11 0 Mediation and Arbitration (#15) <br /> 12 • Discussions regarding loss of State or Federal Funds, Private funds, <br /> 13 funding shortfall or cost overrun reach impasse <br /> 14 • Any party may request mediation <br /> 15 • If mediation fails, arbitration used to reach final decision <br /> 16 <br /> 17 Financial Analysis Update <br /> 18 0 Financial Model Updated and Corrected <br /> 19 • Adds the cost of administrative position to administer the Transit Plan <br /> 20 ($24,500) <br /> 21 • Adds short range bus planning study for Orange Public Transit and <br /> 22 GoTriangle for Orange County Services ($100,000) <br /> 23 • Corrects amount for bus operations and maintenance to reflect services <br /> 24 next year- $450,000 <br /> 25 • Minimum cash balance during construction: $3.77 million <br /> 26 • Minimum cash balance after construction: $15.39 million <br /> 27 <br /> 28 Transit Plan Updates <br /> 29 0 Added Cost Share Percentages and Financial Assumptions on Page 45 <br /> 30 <br /> 31 Interlocal Implementation Agreement <br /> 32 0 Allocation of bus hours governed by Implementation Agreement <br /> 33 • 64% Chapel Hill Transit <br /> 34 • 24% GoTriangle <br /> 35 • 12% Orange Public Transit <br /> 36 0 Letter from GoTriangle <br /> 37 • Implementation Agreement Renegotiation <br /> 38 o Bus hours allocation <br /> 39 o Bus service planning <br /> 40 o Disposition of the potential rail dividend <br /> 41 o Potentially add Chapel Hill Transit as party <br /> 42 <br /> 43 Next Steps <br /> 44 0 Consider and Act on Two Documents <br /> 45 • Durham-Orange Light Rail Cost Share Agreement <br /> 46 Attachment A <br /> 47 • Orange County Transit Plan <br /> 48 Attachment D <br /> 49 <br />