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additional $3 fee is intended to restore the buying power of the original $5 fee to its purchasing ~ <br />power level when it was first enacted in the 1990s. There are no specific requirements associated <br />with the fee increase other than it should be used to suppo~ transit. According to Triangle <br />Transit, it is likely to be used on either newlenhanced bus service or advancing planning and <br />design of the rail projects. The revenue assumption in 2012 is $330,000. <br />Financial Plan <br />As noted, a financial plan is required to levy the %-cent sales tax. Triangle Transit is the lead <br />agency for developing the Triangle Regional Transit Plan TRTP} and the associated financial <br />model. URS Corporation is the consultant f rm retained by Triangle Transit to help develop the <br />plan and assist with public outreach efforts. <br />Triangle Regional Transit Plan TRTP} Staius <br />The TRTP includes two main components: fixed guideway flight rail and Bus Rapid Transit} and <br />county-specifrc bus plans far Orange, Durham and Wake Counties. One of the major tasks of <br />TRTP is to develop the Alternatives Analysis (AA} for the light rail option. The AA is a <br />necessary step for accessing federal funds via the Small Starts program. -Small Starts is a federal <br />grant program that offers financing for capital costs associated with new fixed guideway <br />systems, extensions, and bus corridor improvements. <br />As a part on the AA, the Durham-Orange 4 University of North Carolina _ Alston Avenue} <br />alternative was selected far further examination, Attachment 1. The next step is to determine the <br />exact alignment that would be proposed as the Locally Preferred Alternative ~LPA}. <br />Zn addition to progressing the AA process, Triangle Transit has updated the plan financial model. <br />The new f nancial information became available in March 2011. The main base financial model <br />changes related to Orange County are: <br />Assumed federal share increased from 35% to 45% <br />• Available bus resources decreased from 34,004 new bus service hours to 29,500. <br />Originally, the bus network expansion was scheduled for the first 5 years of the program. <br />As of March 2011, the introduction of new bus services was split into two phases: phase <br />~ to be completed by 2012 assuming Fall 2011 referendum}; phase 2 - by 2029. <br />Triangle Transit also developed a set of alternative scenarios in addition to the base financial <br />model. For example, one of the alternative scenarios shows changes in the financial model <br />assuming that Orange County will pay for the rail segment from the University of North Carolina <br />to the County line; the base scenario assumes that Orange County will pay for the rail segment <br />from the University of North Carolina to Leigh Village ~- over a mile into Durham County. The <br />alternative financial scenarios are provided in Attachment 2. <br />Orange County Transit Plan Status <br />The Orange County Transit Leadership Group, comprised of Orange County elected officials <br />Chair Bernadette Pelissier and Vice Chair Valerie P. Foushee}, has been meeting over the <br />course of the last few months to discuss various important questions and issues related to the <br />TRTP and the financial model. <br />The issue of Orange County rail segment financial obligation has been discussed on numerous <br />occasions in an attempt to determine a fair share for the County to contribute. The proposed <br />C:IDacuments and SettingslmallisanlLacal SettingslTemparary Internet FileslOLKI OSlinfo Item Transit Plan Update.dacinfa Item Transit Plan <br />Update <br />