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

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5 1 corridor that the rail will serve is heavily traveled. She said the extensive work of trained 2 professionals has produced a great design. She said she focused heavily on finances in this 3 process, and she is grateful to her peers that asked for an independent analysis by Davenport 4 and Company. She said Commissioner Jacobs and Chair Dorosin negotiated in good faith with 5 Durham County, and there are now manageable financial splits, with adequate reserves for 6 Orange County. 7 Commissioner Burroughs said she has read all of the emails submitted to the Board, 8 and noted that some emails referred to the 2% committed funding raised by GoTriangle through 9 private fundraising. She said this 2% funding has to be contractually committed by the time the 10 final application is submitted to the Federal Transit Authority (FTA) in summer 2019, and 11 without it, the FTA will reject the application. She said GoTriangle has the right people at the 12 table to be able to raise these funds. 13 Commissioner Burroughs said one of the key factors is cost overruns, but 10 years ago 14 the FTA instituted strong risk management processes, and the majority of projects come in at 15 budget. She said people need to know this information, and the County does know what it is 16 getting into with this project. 17 Commissioner Burroughs said ultimately transit is something that requires the long view. 18 She said this is a vote for the future. She and her family have lived in many places and have 19 benefitted from the vision of those who came before. She said all of these places continue to 20 expand their transit services. 21 Commissioner Burroughs said the decision comes down to making the decision for the 22 long run. She said she will vote in favor of this plan. She said she appreciates the tone of the 23 conversation in the community, admires the advocacy skills of residents, and welcomes the 24 tone of this plan. 25 Commissioner Marcoplos said Commissioner Burroughs summed up a lot of his thought 26 processes. He said when he first came on the Board in December 2016 he attended a 5-hour 27 meeting about this issue. He said he began to appreciate the information and the feedback 28 from the community, and he explored and digested it so that he could communicate his thought 29 processes about why he supported this project. He said one item that has not been greatly 30 discussed is the 500 developable acres around this project, which is a sizable amount. He said 31 he looks upon this project as a great economic development tool, and he said what has been 32 missing in the discussion is the economic development opportunities around this project. He 33 added that this project promotes walkability and environmental benefits. 34 Commissioner Marcoplos said he was in favor of the project, but was very concerned 35 that the financial model was not working, and was afraid the project would be unviable. He 36 said Commissioner Jacobs suggested hiring an outside consultant to look at the financials, and 37 he appreciated the negotiations of Chair Dorosin and Commissioner Jacobs with Durham 38 County. He said he will support this project. 39 Commissioner Price said her constituency wanted the transit tax to be used for bus 40 service rather than light rail. 41 Commissioner Price thanked the Orange County community for its involvement in this 42 process, and said she is very much in favor of mass transit and its benefits, but not for this 43 project. She said the current light rail (LRT) project is economically unviable, environmentally 44 unsound, and socially unjust. She said she is personally and professionally devoted to social 45 and environmental justice, as well as civil rights. She said she maintains these values as a 46 Commissioner, and cannot vote for this current project for the following reasons: 47 • Funding scheme puts Orange County at risk with its bond rating 48 • Proposed route goes through green spaces as opposed to using existing thoroughfares 49 and right of ways; and there is no firm data that this light rail will divert cars