Item:
Title
Approval of the FY25 Durham Annual Transit Work Program Global Operating and Capital Agreements
Body
Date of BOCC Meeting: June 10, 2024
Request for Board Action:
Agenda Text
The Board is requested to approve the FY25 Durham Annual Transit Work Program Global Operating and Capital Agreements.
The FY 2025 Durham Annual Transit Work Program ("Work Program") is the annual budget for the Durham Transit Plan and includes the projected revenues, expenditures, as well as a Multi-Year Operating and Multi-Year Capital Improvement Plan. The Work Program was approved by the BOCC on April 8, 2024, and is expected to be approved by the GoTriangle Board of Trustees on June 26, 2024.
To be eligible to receive reimbursement for project expenditures identified in the Work Program, Durham County must enter into Global Operating and Capital Agreements ("Global Agreements") with GoTriangle, the Administrator of the Triangle Tax District, and the Durham-Chapel Hill-Carrboro Metropolitan Planning Organization ("DCHC MPO") for projects that have been awarded federal funding. A global agreement is an operating or capital funding agreement that encompasses a discrete logical grouping of capital projects, transit operations or studies.
The global agreements will allow the County to request reimbursement in FY25 of up to $1,502,694 for the County-sponsored operating and capital projects.
To be eligible to receive reimbursement for project expenditures identified in the Work Program, GoTriangle must enter into Global Agreements with Durham County and the DCHC MPO, as appropriate when federal funding has been awarded.
The global agreements will allow GoTriangle to request reimbursement in FY25 of up to $10,455,422 for the GoTriangle-sponsored operating and capital projects identified in the Work Program. GoTriangle may also request reimbursement for any carryover capital projects identified in the Work Program.
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