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11 <br /> <br /> Created a $57.6 million funding gap <br /> Triggered the Revenue Shortfall Provision of Cost Sharing Agreement <br /> Parties Initially Met on June 21 within the 15 day window <br /> Parties Continued to Meet Over the Summer <br /> <br />Orange County Transit Plan – Cash Balances (graph) <br /> <br />Negotiated Solution to State Funding Gap (graph) <br />• Durham County Dedicated Local Revenue <br />o Fills $57.6 million funding gap <br /> <br />Next Steps <br />• FTA Progress Report due September 7, 2018 <br />• Letters Reporting Negotiated Solution <br />o Durham County Unanimously Adopted on August 27, 2018 <br />o Board of Orange County Commissioner Consideration Sept. 4 <br />• Amend Cost Sharing Agreement and Transit Plan <br />o Late 2018 - Early 2019 <br /> <br />Manager’s Recommendation <br />• To Authorize the Chair to Sign the Letter Attached to Abstract (Attachment 1) <br />o Affirming Orange County’s $149.5 million Financial Commitment to the Durham- <br />Orange Light Rail Project <br />o Communicating a Solution to the Funding Shortfall Created by the State Budget <br />using Durham County Dedicated Transit Revenue <br /> <br />Commissioner Marcoplos made a few corrections to the PowerPoint. <br />Commissioner Jacobs asked if any other changes are proposed. <br />Travis Myren said not at this time. <br />Commissioner Price clarified that this will be addressed again at end of year, and asked <br />if there is a specific reason for this. <br />Travis Myren said over the next couple of months, the Federal Transit Authority (FTA) <br />will be doing a risk assessment of the project, and if there are any changes to be made, there <br />will time to do so. <br /> <br />PUBLIC COMMENT: <br />Charles Humble read the following comments: <br /> <br />I speak tonight on behalf of many individuals and community organizations who would like an <br />update on the state of Durham-Orange Light Rail project. The $57 million shortfall in state <br />funding is one of many changes that have come up since you approved it last year. Since the <br />submission for federal funding is around the corner, this is a good time for Orange County to <br />step back and see where we are. <br /> <br />As we have stated before, we strongly support public transportation; we just want it to serve <br />more of the public. The original light rail plan to connect the Triangle would have served more <br />people. The current one, not so many. Now, the project limits service to a single corridor from <br />UNC and Durham, and jeopardizes Orange County’s larger transit program. <br />