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26 <br /> Commissioner Marcoplos said if costs go up, there would be a new cost share <br /> agreement and Durham will cover the costs. <br /> Commissioner Bedford said if that is in the writing then Davenport is not needed, but <br /> if it is not in the writing then Davenport is needed. <br /> Commissioner Marcoplos said the Durham Commissioners understand very clearly <br /> that Orange County will not put forth any more money. <br /> Chair Rich said when the State said it would not cover the money, the cost share <br /> agreement was going to be redone as Durham would pick up additional costs and interest. <br /> She said it all ties together that everyone is waiting on the numbers so that the cost share <br /> agreement can be rewritten. <br /> Chair Rich said the whole Board agreed to not surpass $149.5 million, and no one <br /> asked the Board to do so. She said an additional resolution seems unnecessary. She said <br /> she is fine with keeping Davenport on hold, and when the numbers come back it will be <br /> obvious if this can proceed or not. She said it will be especially obvious to Durham if it will <br /> be able to proceed. She said she does not want to get locked into something with <br /> Davenport, and she does not want to endanger the very tight timeline. <br /> Chair Rich said the Board signed an agreement, which was a result of many <br /> meetings, to cap the amount Orange County will spend, and no one has asked the Board to <br /> change this agreement. <br /> Commissioner McKee said no one has asked us to change the agreement, but <br /> these changes amount to a 5% change, which triggers a material change; therefore, the <br /> current cost share agreement is not worth anything, as it has to be renegotiated. <br /> Commissioner McKee asked if Commissioner Marcoplos and Chair Rich are saying <br /> that Durham will definitively pick up the $81 million through the middle of Durham, the $90 <br /> million plus in Duke, backstop, $250 million interest, and the possible $200 million <br /> contingency. <br /> Commissioner Marcoplos said Durham is considering its options, as it knows <br /> Orange County cannot afford it. <br /> Commissioner McKee said having Davenport on retainer is a wise thing to do. <br /> Commissioner Marcoplos said he hears the Board agreeing with Commissioner <br /> McKee. <br /> Commissioner McKee said the Board needs to retain Davenport now. <br /> Chair Rich said Durham does not have the numbers either, but if Durham does not <br /> pick up all the costs, then the project is over. She said if Duke says no it is over; if Durham <br /> cannot make backstops, it is over. <br /> Commissioner McKee said it will not be over, as the cost sharing agreement states <br /> it will go to mitigation. <br /> A motion was made by Commissioner McKee, seconded by Commissioner Bedford <br /> for the Board to: <br /> 1. To authorize the County Manager to sign an agreement with Davenport & Company, <br /> LLC to provide a third party analysis of a new, proposed financial plan when <br /> presented to our staff (Commissioner McKee) for the Durham-Orange Light Rail <br /> Project at a cost not to exceed $30,000; and to retain the right to cancel at no cost; <br /> 2. Consider authorizing staff to prepare a budget amendment that transfers funds from <br /> the Board Contingency line item (approximately $20,700) and the Manager's <br /> miscellaneous line item to the Finance Department to fund this analysis. <br /> Commissioner Marcoplos said he would prefer the language to "consider" <br /> Davenport to provide a third party analysis. <br />