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Agenda - 02-07-2012 - 8c
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Agenda - 02-07-2012 - 8c
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11/12/2015 1:51:37 PM
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BOCC
Date
2/7/2012
Meeting Type
Regular Meeting
Document Type
Agenda
Agenda Item
8c
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Minutes 02-07-2012
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\Board of County Commissioners\Minutes - Approved\2010's\2012
RES-2012-020 Resolution to Approve the Locally Preferred Alternative (LPA) for the Durham Orange County Transit Corridor
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\Board of County Commissioners\Resolutions\2010-2019\2012
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20 <br /> the BRT-high service to attempt to replicate a light rail level of performance by <br /> intentionally not reducing the exclusivity of operation and design quality to <br /> reduce costs. <br /> There are surely ways that capital costs could be reduced for the BRT alternative; <br /> the question is what type of reductions in service quality would Orange County <br /> be willing to accept to get those lower costs. Generally the things that make Bus <br /> "Rapid" Transit fast are costly, such as grade-separated bus only roads, whereas <br /> those that might help with marketing (stylish vehicles, nice lighting and shelters) <br /> are not. If the bus is very slow and unreliable, however, no amount of marketing <br /> will overcome a system that cannot perform its intended function to provide fast, <br /> frequent, high-capacity and high-quality transit service that will support regional <br /> growth, mobility, and economic development for decades to come. <br /> 3. Assuming revenues of approximately $5 million per year from % cent sales tax <br /> and $700k from vehicle registration fees and on the expenditure side, $4.9 million <br /> for bus hours countywide, how will Orange County accumulate $82.5 million for <br /> LRT within the timeframe proposed? That represents only approximately $1 <br /> million per year after expenditures to "save" for LRT or BRT. <br /> The financial model has revenue growth in it each year, and 75% of the light rail <br /> cost is assumed to be paid by state and federal sources. The revenue growth rate <br /> is larger than the cost inflation growth rate for most of the model, and this allows <br /> the increasing cash balances generated by these conditions in the model to pay <br /> for the Orange County share of the light rail, AND to operate it into the future, <br /> AND to pay off the bonds issued to build the project. If desired, we would be glad <br /> to sit down with any of the Commissioners to explain how it works in detail. <br /> ECONOMIC DEVELOPMENT/FINANCIAL <br /> 1. Both the Durham and Wake County transit plans propose a commuter rail <br /> component that would be scheduled to be operational in the mid-term (2018) <br /> versus the longer term (2025) for potential LRT. Could Orange County be <br /> studied and monies estimated for Commuter Rail to Hillsborough as part of the <br /> longer term? Paul Morris, NC Deputy Secretary for Transit spoke recently of <br /> state interest in upgrading commuter lines and freight lines to assist in economic <br /> development, which would be the case in the Efland-Buckhorn economic <br /> development zones west of Hillsborough. <br /> Analysis of travel markets conducted in the Transitional Analysis that was <br /> completed in autumn of 2010 indicates that this question would be best <br /> addressed after the initial line was opened and its level of success was <br /> established. In the meantime, including commuter rail service to Hillsborough in <br /> Page 12 of 13 <br />
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