Agenda - 06-05-2012 - 7a - Laserfiche WebLink

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H. FTA Formula Funds 25 The plan assumes that new bus services will receive partial operating and capital cost contributions through existing formula programs established by the Federal Transit Administration (FTA), and that transit agencies in Orange County will receive those contributions in accordance with historical patterns of funding that existing transit services have received. Over the life of the plan to 2035, FTA Formula funds are expected to total $70.9 million in Year -Of- Expenditure (YOE) dollars in Orange County. I. Additional Revenue Sources This draft Bus and Rail Investment Plan does not rely on additional municipal contributions, public or private third party contributions or value capture forms of revenue. VI. ORANGE FINANCIAL PLAN DATA The following is a list of the total spending for each technology and category identified in the Orange County Bus and Rail Investment Plan to 2035. All figures are in Year of Expenditure dollars (YOE) unless otherwise noted. • Light Rail Capital: $418.3 million ($316.2 million in 2011 dollars) • Light Rail Operations: $59.1 million • Bus Capital: o MLK Bus Lanes - $24.5 million o Miscellaneous Bus Capital Projects- $6.7 million • Bus Operations: $107 million • Amount borrowed by Triangle Transit to execute the plan: $25 million • Amount of debt service payments made by Triangle Transit through 2035: $19.2 million • Hillsborough Intercity Rail Station: $8.9 million Additional specific financial information on each of these plan elements can be found in the Appendices. VII. AGREEMENTS IMPLEMENTATION AGREEMENT: ANNUAL REVIEW AND CHANGES TO THE PLAN The Bus and Rail Investment Plan in Orange County details the specific elements of local and regional bus service, and Light Rail service to be added in Orange County over a 23 -year period. Because of the long time frame for implementation of the Plan and its major capital projects, over time there will be changes and revisions made to the Plan. As the statutory implementation agency, Triangle Transit will work with Orange County, the DCHC Metropolitan Planning Organization (MPO), and the towns of Chapel Hill, Carrboro, Hillsborough, the University of North Carolina at Chapel Hill and Chapel Hill Transit, and the public transit provider in Orange County, to develop and execute an Implementation agreement which details the following aspects of implementation of the Plan: 5/23/2012 - Page 125