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3 <br /> Reconciliation Agreement ("Puget Pass Agreement") and respective commitments <br /> to renegotiate the Puget Pass Agreement upon or prior to its expiration on <br /> December 31, 2005 consistent with the conditions of SOUND TRANSIT's <br /> funding support to partner agencies. These conditions include the following: <br /> 5.2.1 The formula and methodology for reimbursement from SOUND <br /> TRANSIT to partner agencies for intersystem transfer trips will be <br /> renegotiated to provide a maximum subsidy of $13,118,951 total from <br /> 2003 through expiration of the program. The Transit Integration Group <br /> ("TIG") and TIG Fares Committee will recommend a methodology to <br /> distribute reimbursement payments based on transit ridership using the <br /> best available data, including Smart Card data when such becomes <br /> available. <br /> 5.2.2 The formula, methodology and payment process for reimbursement <br /> from SOUND TRANSIT to partner agencies for intersystem transfer trips <br /> will be separate from the regional system for distributing actual fare and <br /> pass sales revenue collections from transit customers. The Fare <br /> Integration Fund ("FIF") will no longer be used to provide a back-up for <br /> regional revenue shortfalls if calculated revenues due to Everett Transit <br /> ("ET ") exceed revenues available from actual regional fare and pass sales <br /> collections from transit customers. <br /> 5.2.3 No payments from the FIF will be made to subsidize fares for <br /> riders transferring between local service and SOUND TRANSIT Regional <br /> Express Bus service after year-end 2006. Such payments to local agencies <br /> will sunset for riders on Sounder commuter rail service two years after <br /> implementation of Sounder Seattle/Everett service at an operating <br /> frequency of three trips per day, estimated to be year-end 2008. Such <br /> payments to local agencies will sunset for riders on Link light rail service <br /> two years after implementation of the Central Link Downtown <br /> Seattle/Tukwila segment, estimated to be mid-year 2011. <br /> 5.2.4 Parties subject to the current Regional Pass and Fare <br /> Reconciliation Program Agreement ("Puget Pass Agreement") agree to <br /> renegotiate the terms of that agreement, upon or prior to its expiration on <br /> April 15, 2006, to incorporate the conditions of SOUND TRANSIT's <br /> funding support for the Smart Card project. <br /> 5.3 Events Affecting SOUND TRANSIT's Financial Support <br /> SOUND TRANSIT's financial support under this Agreement is also subject to <br /> fulfillment of the following conditions: <br /> 5.3.1 EVERETT' TRANSIT agrees to fully expend its own designated <br /> grant funding for fare integration and the requisite local match and grants <br /> from SOUND TRANSIT's Regional Technology Fund prior to making <br /> use of SOUND TRANSIT Fare Integration program support funding. Any <br /> SOUND TRANSIT funding, including Fare Integration program support, <br /> Fundng Assist Agmt ET ST March 06.doc o <br /> 4 O <br />