Agenda - 05-19-2011 - Laserfiche WebLink

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Attachment 1 3 Shared Benefits Examining Light Rail Transit Investments Near the Durham-Orange County Line May 9, 2011 Goal Provide elected officials with objective information about Light Rail Transit (LRT) investment benefits and costs to inform discussions on how to pay for both bus and rail investments with any locally-controlled sales tax and vehicle fee revenues. Sew The planned Light Rail Transit investment would closely parallel the Durham-Orange County line as it approaches Chapel hill's Gateway station from the east near 1-40 and US 15-501 until it heads west-ward toward UIVC-Chapel Hill from the Friday Center station along NC54. Half-mile "walk access zones" at the Gateway Station, Meadowmont or Hillmont Stations (which lie along alternative alignments) and the Friday Center would all be partly in both counties. Discussion Framework A Light Rail Transit (LRT) or Bus Rapid Transit (BRT) investment along the 17-mile corridor in the Triangle Transit Alternatives Analysis would provide benefits to citizens and enterprises in both Durham and Orange Counties, especially since the most intense and transit-supportive activities are located at both ends of the line: UNC-Chapel Hill on the west and Downtown Durham and Duke University on the east. These benefits are expected to overlap most significantly in the "area of greatest mutual benefit" along the Durham-Orange County line described above. Discussions among decision-makers about the investments have centered around three elements: the different types of new revenues that might be available and their sources by location; the costs of the investment, and how these costs relate to the amount of bus service that could be provided in each county, and the benefits of the investments, and the degree to which these benefits can be attributed to citizens and enterprises in each county. New Revenues Revenues for an LRT or BRT investment could come from several new revenue sources (in addition to the existing Triangle Transit rental car tax, which will also supply funding): 1. Federal "new starts" $: 45 or 50%federal share assumed; federal $ required in finance model 2. State "intermodal bill" $: 25%state share assumed; state$ required in finance model 3. Local % cent sales tax: included in finance model 4. Local $7 vehicle fee increase: included in finance model 5. Triangle Transit$3 increase in vehicle fee: included in finance model 6. Local government value capture: potential source; not currently in finance model 7. Institutional contributions: potential source; not currently in finance model 8. Parking deck or lot charges: potential source; not currently in finance model 9. Rider fares: included in finance model Page 1 1