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4 <br /> WHEREAS, GoTriangle is seeking funds from FTA's Capital Investment Grant (CIG) Program <br /> (49 U.S.C. § 5309)for the D-O LRT Project; and <br /> WHEREAS, the D-0 LRT Project Cost Estimate which is eligible for federal participation, including <br /> costs related to project development, engineering, construction, testing, commissioning, start-up, and <br /> financing costs through the anticipated final year of disbursement of federal funds(projected to be 2032), <br /> is$2,476.3 million year of expenditure (YOE) (New Starts Project Cost); and <br /> WHEREAS,GoTriangle receives and uses public monies,pursuant to N.C.G.S.Chapter 105, Articles <br /> 43, 50, 51, and 52, to fund public transportation in GoTriangle's jurisdiction, including the planning, <br /> financing, construction, maintenance, and operation costs of the D-0 LRT Project; and <br /> WHEREAS, there are four dedicated local revenue sources used to fund the D-O LRT Project and <br /> other new transit projects and services in Durham and Orange: (1)Article 43 Half-Cent(0.5 percent) Sales <br /> and Use Tax; (2) Article 50 Five-Percent (5 percent) Vehicle Rental Tax; (3) Article 51 Three-Dollar ($3) <br /> increase to GoTriangle Regional Vehicle Registration Fee; and (4) Article 52 Seven-Dollar ($7) County <br /> Vehicle Registration Fee (collectively, Dedicated Local Transit Revenues); and <br /> WHEREAS, in light of changes to the original funding assumptions in the County BRIPs,the Parties <br /> have revised their funding strategy for the D-0 LRT Project as follows: federal (50 percent [$1,238.15 <br /> million YOE]),state(10 percent[$247.63 million YOE]),and local/other(40 percent[$990.52 million YOE]); <br /> and <br /> WHEREAS, in order for the D-0 LRT Project to advance to the Engineering Phase of the CIG <br /> Program (Engineering Phase), at least 30 percent of the non-CIG share of the D-O LRT Project <br /> ($371.4 million YOE) must be committed at entry to the Engineering Phase; and <br /> WHEREAS,the Parties acknowledge that the total non-CIG share of the New Starts Project Cost is <br /> $1,238.15 million YOE, of which $887.9 million YOE(71.7 percent) is committed from the Dedicated Local <br /> Transit Revenues; and <br /> WHEREAS, the Parties acknowledge that one hundred percent (100%) of non-CIG funds must be <br /> committed prior to GoTriangle's application for a Full Funding Grant Agreement (FFGA), which is <br /> anticipated to be submitted to FTA in calendar year 2019; and <br /> WHEREAS, on February 16, 2017, GoTriangle received guidance from FTA explaining that <br /> additional documentation would be necessary to update the estimated D-0 LRT Project cost in the County <br /> BRIPs, and to confirm that at least 30 percent of the non-CIG share (at least $371.4 million YOE) is <br /> committed; and <br /> WHEREAS, the Parties acknowledge material changes to the County BRIPs have occurred, as <br /> defined in the 2012 Interlocal Implementation Agreement for Orange County Bus and Rail Investment Plan <br /> and the 2013 Interlocal Implementation Agreement for Durham County Bus and Rail Investment Plan, <br /> prompting the Parties to revise the County BRIPs; and <br /> WHEREAS, on , the Durham County Board of County Commissioners adopted the <br /> updated Durham County Transit Plan(2017 Durham Plan)and authorized the execution of this Agreement; <br /> and <br /> 2 <br />