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86 <br /> WHEREAS, the FY 2025 Orange County Transit Annual Work Program was <br /> developed and recommended by the SWG, presented for public comment, and <br /> adopted, as required, by the Boards of Orange County and GoTriangle; and <br /> WHEREAS, the FY2025 Triangle Tax District Orange Capital Ordinance was adopted <br /> by the GoTriangle Board of Trustees; and <br /> WHEREAS, the Parties desire to implement the components of the FY2025, Orange <br /> County Transit Annual Work Program as adopted by GoTriangle and Orange County; and <br /> WHEREAS, as stated in the Comprehensive Participation Agreement, all <br /> Implementation Elements ("Projects") contained in the Orange County Transit Annual Work <br /> Program, whether partially or fully funded with Orange County Transit Tax Revenues, will <br /> not move forward until Implementation Agreements, which shall include Global/Capital <br /> Funding Agreements and/or Global/Operating Agreements, are executed by and between <br /> the Implementing Party, GoTriangle, as administrator of the Special District, and all other <br /> appropriate Parties as identified in Exhibit A. <br /> WHEREAS, Orange County, shall be a party to any Capital Infrastructure Agreement if any <br /> Project involves federal or state funding that is otherwise under the distribution and program <br /> management responsibility of Orange County or, regardless of funding source, constitutes <br /> a regionally significant project as defined in 23 CFR§ 450.104; and <br /> WHEREAS, the Parties are authorized to enter into this Agreement pursuant to, inter <br /> alia, N.C.G.S. §§ 160A-20.1; 160A-312; 160A-313; 160A-610; 153A-275; 153A-276; and <br /> 153A-449. <br /> NOW, THEREFORE, in consideration of the above recitals and the mutual <br /> covenants herein contained, the Parties hereto agree as follows: <br /> 1. Annual Approval: <br /> The Agreement shall be reviewed annually to determine project progress and appropriate <br /> updates to Exhibit A documents, which is then executed by all appropriate Parties. The review <br /> and approval should consist of: <br /> A. Addition of new Projects to the Exhibit A if one or more is identified to be included as a <br /> part of this Agreement. <br /> B. Removal of active Projects from the Exhibit A if one is identified by Project sponsor to <br /> be completed during the Agreement review process. <br /> C. Update of scope, schedule, and budget baselines for active Projects with a duration <br /> longer than the current year of this Agreement, as defined in the Exhibit A. <br /> Documentation shall maintain record of both original planned dates and updated <br /> planned dates and include supporting allocation of programmed and planned funds from <br /> local funding revenue sources as defined by the Annual Work Program and Multi-Year <br /> Capital Improvement Plan. <br /> D. Updated Agreement shall be reviewed and executed by all parties to the Agreement. <br /> 2 <br /> Global Operating Agreement for Transit Capital Infrastructure <br /> Orange County, FY2025 <br /> Contract#YY-XXX <br />