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24 <br /> Commissioner McKee said there is nothing to review now, but his concern is that if <br /> Davenport is not in place there may be a lag time once the numbers come out to having <br /> them reviewed. He asked if this is correct. <br /> Travis Myren said as soon as the financial model is received staff can engage <br /> Davenport and allow the Manager to sign a contract and approve a budget amendment. He <br /> said, in the absence of that, staff needs to wait for another Board cycle to do that, and <br /> everyone is up against an April 30th deadline. He said it is a balancing act. <br /> Commissioner McKee said there is a Board cycle of 2 weeks from the time a <br /> decision is made. <br /> Commissioner Marcoplos clarified that if the Board puts money down for a future <br /> analysis, but does not need it, then the County can get all the money back. <br /> Travis Myren said yes, they would terminate the contract with no penalty. <br /> Chair Rich asked if it is known how long it would take to turn such a report around. <br /> Travis Myren said maybe during a 2-week Board cycle, if the format is as it was in <br /> the past. <br /> Commissioner Dorosin asked if the process is that there will be some additional <br /> information coming from FTA. <br /> Travis Myren said yes. <br /> Commissioner Dorosin asked if sometime between now and April 30th a revised <br /> transit plan will come back to the Board. <br /> Travis Myren said yes. <br /> Commissioner Dorosin asked if it is known who will review the numbers when they <br /> come back. <br /> Travis Myren said Orange County, Durham County staff and GoTriangle will review <br /> the numbers. <br /> Chair Rich invited comments from the Board. <br /> Commissioner McKee said since this was partially a response to his petition he <br /> would comment first. He said GoTriangle invited all Board of County Commissioners <br /> members to meet with GoTriangle staff to review the new information, and he met with <br /> them last week. He said his takeaway from this meeting was that the changes through <br /> downtown Durham, the open cut, the underground and elevated sections total $81 million <br /> price range. He said going from 751 to 9th street through the Duke University complex is <br /> about 1.2 miles costing $90-100 million. He said these two portions total $171 million. He <br /> said there is a small area at Shannon Road and University that has to have open cut, which <br /> he will ignore as it is not a significant cost. <br /> Commissioner McKee said he also spoke with GoTriangle staff about the private <br /> investment funds, which may or may not come on line. He said if these funds do not come <br /> to fruition, the counties will be expected to pick up the difference, which is $82 million, with <br /> a grand total of$253 million, which will all be borrowed money with 3% interest, which is <br /> $250 million over 45 years. He said if his ballpark figures are close, this adds $500 million <br /> in additional costs, which is no small amount. He said what is a small amount, is $30,000 <br /> to pay Davenport to do an analysis and at the end, the cost is worthwhile. He said using <br /> Davenport is not a criticism of Orange County staff. He said Davenport has an expertise <br /> and should be used accordingly. <br /> Commissioner McKee said GoTriangle staff also mentioned that there is a <br /> possibility that the FTA would require an additional unknown percentage for contingency, <br /> but he is not including this possibility at this time. <br /> Commissioner Marcoplos said Commissioner McKee's numbers are basically <br /> correct, and the added contingency is what all are waiting for from the FTA. He said there <br /> will be added contingency. He said the private funding backstop will not go public until a <br />