Local Cogat percentile is for the children who took in their district only. The discrepancy of percentile between different schools (highly dependent on SE status or how affluent the neighborhood) is well known.
If the requirement is 93 percentile local score means that they will accept top 7 percent of local students to the program. Unfortunately, many parents (especially in NYC) are prepping their kids (thereby inflating their scores) and some well deserving students are/ will be left out in the program.