Title
Amendment to Add CAMPO as a Party to the Interlocal Agreement for the Administrative Distribution of the Wake County $7 Vehicle Registration Tax
Bret Martin, MPO Staff
Body
The Interlocal Agreement for the Administrative Distribution of the Wake County $7 Vehicle Registration Tax ($7 Vehicle Registration Tax ILA) authorizes the remittance of municipalities’ allocations of $7 vehicle registration tax revenues to the Triangle Tax District, Wake Operating Fund, which is the fund into which all Wake County transit tax revenues (including the sales tax, vehicle registration taxes, and vehicle rental taxes) are deposited. This fund is managed by GoTriangle as the assigned administrator of the Triangle Tax District. The $7 vehicle registration tax is assumed as a revenue source, along with other sources, to balance against planned expenditures related to the projects contained in the adopted Wake County Transit Plan. This $7 Vehicle Registration Tax ILA originally included as signing parties GoTriangle, Wake County and the municipalities in Wake County that currently operate a public transportation system as defined by N.C.G.S. 105-506.1. The Wake County Board of Commissioners authorized the levy of the $7 vehicle registration tax at its December 5, 2016, meeting, and collection of the $7 vehicle registration tax is anticipated to begin in the first or second quarter of FY 2018.
As a condition of agencies receiving Wake County transit tax revenues to implement projects they plan to sponsor, the Wake Transit Master Participation Agreement (MPA), which includes all municipalities in Wake County as eligible participant parties, requires those municipalities to be added as parties to the $7 Vehicle Registration Tax ILA. Wake County has developed an instrument to amend the $7 Vehicle Registration Tax ILA to include all municipal parties to the MPA as parties to the $7 Vehicle Registration Tax ILA. Within the coming months, municipalities that were not originally parties to the ILA will be added by action of their boards and by Wake County, GoTriangle and CAMPO exercising the amendment procedures prescribed in the ILA. Although CAMPO was not originally a party to the $7 Vehicle Registration Tax ILA, the ILA was written such that CAMPO is needed to concur by written amendment to include additional parties to the ILA. Consequently, CAMPO staff, in conjunction with Wake County and GoTriangle staff, determined that CAMPO should be added outright as a party to the ILA to have solid standing to concur with Wake County and GoTriangle on written amendments to include additional parties.
Attachment A is the original executed $7 Vehicle Registration Tax ILA with only the original parties named, and Attachment B is the amendment instrument produced by Wake County legal staff to add CAMPO as a party.
Requested Action: Action Consider approval of the amendment to add CAMPO as a party to the Interlocal Agreement for the Administrative Distribution of the Wake County $7 Vehicle Registration Tax and authorize the CAMPO Executive Director to sign the agreement amendment.