Agenda 8-a - Minutes - Laserfiche WebLink

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27 1 million plus in Duke, backstop, $250 million interest, and the possible $200 million 2 contingency. 3 Commissioner Marcoplos said Durham is considering its options, as it knows 4 Orange County cannot afford it. 5 Commissioner McKee said having Davenport on retainer is a wise thing to do. 6 Commissioner Marcoplos said he hears the Board agreeing with Commissioner 7 McKee. 8 Commissioner McKee said the Board needs to retain Davenport now. 9 Chair Rich said Durham does not have the numbers either, but if Durham does not 10 pick up all the costs, then the project is over. She said if Duke says no it is over; if Durham 11 cannot make backstops, it is over. 12 Commissioner McKee said it will not be over, as the cost sharing agreement states 13 it will go to mitigation. 14 15 A motion was made by Commissioner McKee, seconded by Commissioner Bedford 16 for the Board to: 17 1. To authorize the County Manager to sign an agreement with Davenport & 18 Company, LLC to provide a third party analysis of a new, proposed financial plan 19 when presented to our staff (Commissioner McKee) for the Durham-Orange Light 20 Rail Project at a cost not to exceed $30,000; and to retain the right to cancel at no 21 cost; 22 23 2. Consider authorizing staff to prepare a budget amendment that transfers funds from 24 the Board Contingency line item (approximately $20,700) and the Manager's 25 miscellaneous line item to the Finance Department to fund this analysis. 26 27 Commissioner Marcoplos said he would prefer the language to "consider" 28 Davenport to provide a third party analysis. 29 Commissioner McKee said he would not accept the friendly amendment, and the 30 Board needs to definitely signal that it accepts the possibility that it will be needed. 31 Commissioner Marcoplos said he does not want to spend this money unnecessarily, 32 and money would have to be put down to reserve Davenport's time. 33 Travis Myren said the Board will receive a presentation from GoTriangle on March 34 7I", and at that time, the Board could authorize the Manager to sign an agreement. He said 35 Commissioner McKee's motion would allow staff to move forward with Davenport should 36 numbers become available prior to the next BOCC meeting, allowing more space in the 37 timeline. 38 Commissioner Greene asked if the Board needs to make a refundable down 39 payment as a retainer to make sure Davenport can act quickly on March 7t", if that is when 40 the numbers are received. 41 Travis Myren said a retainer is not needed, and has put Davenport on notice that 42 the County may be engaging their services. He said it is more a matter of how much time 43 the Board wants to allow for those things to happen. 44 Commissioner McKee restated his motion, adding the wording "when presented to 45 our staff". 46 Commissioner Marcoplos said he is confused. He said the concern seems to be 47 that the numbers are going to be received too late in order to have time to complete the 48 analysis, but the analysis cannot be completed until the numbers are received. 49 Commissioner McKee said then there is no harm no foul.