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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 # YMM <br />