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1 <br /> ORANGE COUNTY <br /> BOARD OF COMMISSIONERS <br /> ACTION AGENDA ITEM ABSTRACT <br /> Meeting Date: June 6, 2023 <br /> Action Agenda <br /> Item No. 8-m <br /> SUBJECT: Orange County FY 2024 Annual Transit Work Program <br /> DEPARTMENT: Orange County Transportation Services (OCTS) <br /> ATTACHMENT(S): INFORMATION CONTACT: <br /> 1. FY 2024 Annual Work Program Nishith Trivedi, Transportation Director, <br /> Revisions 919-245-2007 <br /> 2. FY 2024 Annual Work Program <br /> PURPOSE: To approve the Fiscal Year 2024 Orange County Annual Work Program as amended. <br /> BACKGROUND: On April 21, 2023, GoTriangle's leadership, acting through approval by the <br /> GoTriangle Board of Trustees, delivered correspondence to the Durham-Chapel Hill-Carrboro <br /> Metropolitan Planning Organization (DCHC MPO) and Orange County leadership. The <br /> correspondence describing the intent to no longer contribute 50% of the Regional Transit Authority <br /> Vehicle Rental Tax, as defined in North Carolina General Statute (NCGS) §105-550 through <br /> NCGS § 105-556, to the Orange, Durham, and Wake County Transit Program(s) for the FY 2024 <br /> budget, effective July 21, 2023. This action would reduce the allocation of Vehicle Rental Tax <br /> revenue shown in the Recommended FY 2024 Orange Transit Work Program's Tax District <br /> Revenues by $697,366. <br /> Below is a recommendation — from GoTriangle — to partially mitigate the revenue removed from <br /> the Work Program for FY 2024 (Attachment 1). However, balancing the FY 2024 Work Program <br /> will also require an application of fund balance which will not be sustainable over the long run. <br /> • $697,369 reduction in Vehicle Rental Tax from $739,941 to $42,572 ($0.7M / 365 days <br /> 21 Days of July) <br /> • $350,000, shift funding for New Regional Transit Facility (Orange County share for <br /> Regional Transit Center (RTC) - Construction funding moved to FY25-FY28 to reflect <br /> updated project schedule <br /> • $150,000, revised allocation for Regional Fleet and Faculties Study Implementation - <br /> Nelson Road - due to a change in the agreed upon cost share based on relative share of <br /> revenue hours of transit-plan funded services among the three counties in FY 2030 <br /> This action will provide a balanced budget for the FY 2024 Orange Transit Work Program and <br /> allow all programmed projects in FY 2024 to move forward. The Governance Interlocal Agreement <br /> (ILA) parties are evaluating the impacts of any longer-term removal of the vehicle rental tax <br /> allocation from the adopted Orange Transit financial model. It is anticipated that this work will <br />