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i <br /> VII.IMPLEMENTATION AGREEMENT:ANNUAL REVIEW AND CHANGES TO THE PLAN <br /> The Orange County Bus and Rail Investment Plan details the specific elements of local and <br /> regional bus service, and Light Rail service to be added in Orange County over a twenty-three <br /> year period. Because of the long time frame for implementation of the Plan and its major <br /> capital projects,over time there will need to be changes and revisions made to the Plan. As <br /> the statutory implementation agency,Triangle Transit will work with Orange County,the <br /> DCHC Metropolitan Planning Organization (MPO), and the towns of Chapel Hill, Carrboro, <br /> Hillsborough,the University of North Carolina at Chapel Hill and Chapel Hill Transit,the public <br /> transit provider in Orange County,to develop and execute an Implementation agreement <br /> which details the following aspects of implementation of the Plan: <br /> (a) Annual review presentations of the activities and progress made in implementation <br /> of the Plan by Triangle Transit to the County and the MPO; <br /> (b)The process for review and vote by the County,the MPO and Triangle Transit's <br /> Board of Trustees or the role of the operating agency regarding on any significant or <br /> substantial revisions to the Plan required by changes experienced in revenues <br /> received, capital costs, operating expenses, or other substantial issues affecting the <br /> Plan; <br /> (c) Recognizes and preserves the integrity of the operating agencies; <br /> • (d) Responsibility of Triangle Transit for direct disbursement of funds from the <br /> revenues received per Section V(above)to the public agency responsible for <br /> implementing the bus services set forth in the Plan; and <br /> (d) Other necessary provisions regarding implementation of this Plan as agreed to by <br /> the County,the MPO, and Triangle Transit <br /> VIII. CLOSING SUMMARY <br /> The Orange County Bus and Rail Investment Plan is the result of years of collaborative work of <br /> local elected leaders, regional stakeholders, municipal and county staff and Triangle Transit. <br /> The plan consists of a balance of bus improvements and rail investment to help accommodate <br /> the intense population growth that the region is expected to experience in the next 25 years. <br /> The proposed plan addresses the ongoing need to provide greater service options to transit <br /> riders with improved and expanded bus and rail connections. Once implemented,the <br /> residents of Orange County will be able to have greater access to jobs, shopping, and activity <br /> centers such as downtown Chapel Hill and Carrboro,the University,or the Hospital. <br /> Additionally,the plan will provide core infrastructure investment that will help support the <br /> goals and objectives of local land use plans in Orange-County and its municipalities. In <br /> particular, as evidence in communities across the country, investment in light rail has proven <br /> to be a great motivator for private companies to build transit-oriented development at <br /> • station locations along the rail corridor. This kind of more intense development generally <br /> 5/26/2011-Page 114 <br />