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particular, as evidenced in communities across the country, investment in light rail has proven <br />to be a great motivator for private companies to build transit - oriented development at <br />station locations along the rail corridor. This kind of more intense development generally <br />consists of a mixed -use, walkable environment that can provide a more sustainable <br />alternative to the suburban growth pattern that exists today, while allowing more open space <br />to be preserved. <br />All the elements listed in the Draft Bus and Rail Investment Plan of Orange County are fiscally <br />constrained. At every turn, the Plan is conservative in revenue assumptions and incorporates <br />contingencies for capital and operating expenditures. <br />The draft plan has been shared with the general public, Carrboro Board of Aldermen, Chapel <br />Hill Town Council, the Hillsborough Town Commissioners, the DCHC MPO, the Burlington - <br />Graham MPO and the Orange County Commission. The draft plan will be considered for <br />approval by the DCHC MPO, the Burlington— Graham MPO, the Triangle Transit Board of <br />Trustees, and the Orange County Board of Commissioners. The Orange County Board of <br />Commissioners will determine if and when to set a referendum date. Once a referendum <br />passes, work can begin on implementation of the Bus and Rail Investment Plan. <br />❖ As directed by NCGS 105 - 510.6, Triangle Transit drafted and developed this Plan, <br />working in collaboration with the citizens, elected officials, and stakeholders from <br />Orange County, the DCHC MPO, and Chapel Hill Transit. <br />5/23/2012 - Page 129 <br />