OTHER-2023-048 Orange County Transit Governance

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i 4 . 05 Capital Improvement Program (CIP) Review. Each year ' s work program development process shall include a review of the CIP to determine which, if any, projects no longer meet the needs of the overall transit plan . Goal for this would be to remove such projects) and reallocate funding as necessary to other areas of need . i 4 . 06 Good Faith Effort. For any Party to this Agreement, or any involved Implementation Partner, that is unable to deliver a project as included in the Annual Work Program due to issues outside their control, Parties to a specific Project Agreement will work with the Staff Working Group through good faith to determine appropriate action to help resolve issues and facilitate delivery of said project . Parties shall reference supporting Orange County Transit Financial Policies and Procedures to guide the resolution process . ARTICLE V SUPPLANTATION/SUPPLEMENTATION 5 . 01 As of the Effective Date of this Participation Agreement, N . C . G . S . § 105 - 508 . 2 and N . C . G . S § 105 - 564 require that Special District net tax proceeds must supplement . and not supplant existing public transportation systems ' funds or other resources as defined in Section 2 . 012 of the Governance ILA . The Parties acknowledge that the only funds subject to these requirements as of the execution of this Participation Agreement are . (a) Local Government Sales and Use Taxes for Public Transportation (N . C . G . S . 105 - 506 : 514) which is levied at its maximum allowable rate of one-half ( 1 /2 %) percent (non- supplantation cited in N. C. G. S 105-507. 3 . b) ; (b) Regional Transit Authority Registration Tax (N . C . G . S . 105 - 560 : 569) which is levied at its maximum amount of $ 8 . 00 per year with $ 3 . 00 of each $ 8 . 00 collected allocated locally to Orange County (non-supplantation cited in N. C G. S. 105-564) . G 5 . 02 All Parties may pursue additional state and federal funding sources , which are not controlled locally, when appropriate for implementation of eligible projects . The use of existing funds or other resources , including state and federal funds, must be documented and ilable as a condition of receiving Orange County Transit Tax Revenue or made publicly ava other Locally Dedicated Transit Funding Sources . To the extent permitted by law, any audits required as a condition of receiving the identified funding sources shall be available for public inspection as well . 5 . 03 The most recently audited and reported local fiscal year prior to the January 15 , 2012 of the one half (/2 %) percent Public Transportation Sales Tax Act local option sales and use tax as defined by N . C . G. S . 105 - 508 is the baseline for comparing all Parties ' annual budgets for the Agreement. 5 . 04 Nothing herein shall be construed to modify, abridge, or deny the authority or discretion of any Party to independently develop , administer, or control transportation projects pursuant to enumerated authority or funding sources separate from the authority and funding sources outlined in this Participation Agreement . 9