Agenda 6-b - Authorization for the Chair to Sign a Letter Regarding Measures to Address the State Funding Shortfall in the Durham-Orange Light Rail Project

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ORANGE COUNTY BOARD OF COMMISSIONERS ACTION AGENDA ITEM ABSTRACT Meeting Date: September 4, 2018 Action Agenda Item No. 6 -b SUBJECT: Authorization for the Chair to Sign a Letter Regarding Measures to Address the State Funding Shortfall in the Durham- Orancie Light Rail Proiect DEPARTMENT: County Manager's Office ATTACHMENT(S): 1 — Draft Letter from BOCC Chair Mark Dorosin to Jennifer Robinson (GoTriangle Board Chair) Regarding Tentative Funding Agreement 2 — August 27, 2018 Approved Letter from Chair Wendy Jacobs (Durham County) to Jennifer Robinson (GoTriangle Board Chair) Regarding Tentative Funding Agreement INFORMATION CONTACT: Travis Myren, 919 - 245 -2308 PURPOSE: To consider authorizing the Chair to sign a letter to the GoTriangle Board of Trustees affirming Orange County's current funding commitment to the Durham - Orange Light Rail Project ($149.5 million) and communicating a tentative agreement between Orange County and Durham County to use Durham County dedicated transit revenues to supplant reduced State funding. BACKGROUND: In April 2017, the Board of Orange County Commissioners approved an Interlocal Agreement for Cost Sharing for the Durham - Orange Light Rail Transit Project. The parties to this Agreement are Orange County, Durham County, and GoTriangle. The Cost Sharing Agreement, along with the Orange County Transit Plan, specify the amount of dedicated local transit revenue' that each County will contribute to the light rail project. Orange County's contribution is $149.5 million in year of expenditure dollars while Durham County's contribution is $738.4 million. The Cost Sharing Agreement also specifies a decision making and dispute resolution process for changes that may occur in either project revenues or expenditures. In the event of a material change in revenue, the parties are obligated to meet within fifteen (15) business days to discuss measures to address the shortfall. I Dedicated local transit revenue includes revenue produced by the Article 43 '% cent Transit Sales Tax, Article 50 five percent (5 %) vehicle rental tax, Article 51 three dollar ($3) GoTriangle Regional Vehicle Registration Fee, and the Article 52 seven dollar ($7) County vehicle registration fee.