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11 <br /> I Board of Commissioners Statement <br /> 2 Board of Commissioners Statement <br /> 3 o Adopted June 5, 2018 <br /> 4 o Affirmed Orange County's Commitment to Limit the County's contribution to <br /> 5 $149.5 million <br /> 6 <br /> 7 State Budget Changes <br /> 8 State Budget Provisions <br /> 9 o All Non-Federal Funds Committed by April 30, 2019 <br /> 10 o Federal Funds Committed by November 30, 2019 <br /> 11 o $190 million Limit on State Contribution <br /> 12 ■ Created a $57.6 million funding gap <br /> 13 ■ Triggered the Revenue Shortfall Provision of Cost Sharing Agreement <br /> 14 ■ Parties Initially Met on June 21 within the 15 day window <br /> 15 ■ Parties Continued to Meet Over the Summer <br /> 16 <br /> 17 Orange County Transit Plan — Cash Balances (graph) <br /> 18 <br /> 19 Negotiated Solution to State Funding Gap (graph) <br /> 20 Durham County Dedicated Local Revenue <br /> 21 o Fills $57.6 million funding gap <br /> 22 <br /> 23 Next Steps <br /> 24 • FTA Progress Report due September 7, 2018 <br /> 25 • Letters Reporting Negotiated Solution <br /> 26 o Durham County Unanimously Adopted on August 27, 2018 <br /> 27 o Board of Orange County Commissioner Consideration Sept. 4 <br /> 28 • Amend Cost Sharing Agreement and Transit Plan <br /> 29 o Late 2018 - Early 2019 <br /> 30 <br /> 31 Manager's Recommendation <br /> 32 To Authorize the Chair to Sign the Letter Attached to Abstract (Attachment 1) <br /> 33 o Affirming Orange County's $149.5 million Financial Commitment to the Durham- <br /> 34 Orange Light Rail Project <br /> 35 o Communicating a Solution to the Funding Shortfall Created by the State Budget <br /> 36 using Durham County Dedicated Transit Revenue <br /> 37 <br /> 38 Commissioner Marcoplos made a few corrections to the PowerPoint. <br /> 39 Commissioner Jacobs asked if any other changes are proposed. <br /> 40 Travis Myren said not at this time. <br /> 41 Commissioner Price clarified that this will be addressed again at end of year, and asked <br /> 42 if there is a specific reason for this. <br /> 43 Travis Myren said over the next couple of months, the Federal Transit Authority (FTA) <br /> 44 will be doing a risk assessment of the project, and if there are any changes to be made, there <br /> 45 will time to do so. <br /> 46 <br /> 47 PUBLIC COMMENT: <br /> 48 Charles Humble read the following comments: <br /> 49 <br />