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that, roughly $400,000 is direct County expenses. One of the goals should be that the County <br /> benefits from the action taken. <br /> Planning Director Craig Benedict introduced transit representatives — David King of <br /> Triangle Transit, Jerry Passmore with Orange Public Transportation, and Steve Spade with <br /> Chapel Hill Transit. He said that Jerry Passmore would be retiring and Orange Public <br /> Transportation would be moving to the Planning Department for a time. He said that over the <br /> last few months there has been a presentation to all local governments about what has been <br /> done since a local bill went into effect to provide some revenue sources for the Triangle <br /> counties to come up with funding sources for a long-range regional transit plan that will likely <br /> be a light-rail system. This is the beginning of a long process. By the fall of 2011, there could <br /> be a referendum to talk about a half-cent sales tax, which could generate about $5-6 million <br /> and a vehicle registration fee that could generate $1 million. <br /> Triangle Regional Transit Program <br /> %2 sales tax— could generate $5-6 million <br /> Vehicle registration fee — could generate $1 million <br /> There is a public involvement steering committee called Triangle Regional Transit Program. <br /> Craig Benedict has been appointed to that and has been working with a consultant known as <br /> URS. All of the different facets of the long-range plan are being examined by this committee. <br /> Craig Benedict will be giving regular updates to the County Commissioners regarding actions <br /> that the Board may have to take. <br /> Regional Transit Plans Aspects <br /> •Local revenue projections & financial scenarios; <br /> •Regional Transit Plans (STAC, 2035 LRTP); <br /> •Transit services operating programs; and <br /> •Transit plans for counties within the Triangle Transit service area. <br /> David King from Triangle Transit made the next PowerPoint presentation. <br /> Regional Transit Planning Update <br /> David King, General Manager <br /> Quick Background <br /> - Special Transit Advisory Commission (STAC) <br /> - Long Range Transportation Plan (LRTP) <br /> - Passage of NC House Bill 148 — Congestion Relief & Intermodal 21St Century <br /> Transportation Fund <br /> - Financial forecasts <br /> o What can we afford? <br /> o Analysis of sales and use tax forecasts post <br /> Financial Model: Revenues <br /> Revenue Assumptions <br /> - %2-cent sales tax in Orange County — approximately $5 million annually (annual growth <br /> rate of approx. 2.0% to 2015, 2.5% beyond) <br /> - $10 additional vehicle registration fee in Orange County - $1.2 million annually <br />