Orange County NC Website
Browse       Search
Frank Clifton made reference to paragraph 7 in the light pink handout. He said that <br /> Chapel Hill Transit has some concerns and these are included in the orange handout that he <br /> had prepared. The handout is shown below. <br /> BUS SERVICE REVENUE SHARING PROPOSAL (New Services and Support for Existing <br /> Services) <br /> October 2, 2012 <br /> Assumptions for clarification: <br /> 1. Prior agreement creates a sharing of revenues allocated for new bus services within <br /> the OC Transit Plan based upon a split = CHT 64%, TTA 24% and OPT 12% <br /> 2. Locally generated vehicle registration fees of$7/vehicle for Orange County = $800,000 <br /> in 2016 <br /> 3. Projecting a full year generation of all revenues in 2016 produces a total of$7.1 Million <br /> in revenues of which $3,702,000 is dedicated for bus services <br /> 4. By agreement, TTA will forego any direct share of the $7 vehicle registration revenues <br /> for Orange County allowing OPT and CHT to share in those revenues for purposes of <br /> supporting existing services as outlined below <br /> 5. The allocation of the $7 vehicle registration fees in Orange County for `optional' use to <br /> support either existing or new services will fall within the 64/24/12% bus revenue <br /> allocation formula as shown below <br /> 6. The split of the $7 vehicle registration fees for existing services in Orange County will <br /> be split by CHT and OPT based on the ratio of each system's local funding allocation <br /> from existing sources each fiscal year as a percentage of the total of the two systems <br /> dedicated local revenue allocations. (90 % CHT and 10% OPT (+/-) rounded for <br /> simplicity.) <br /> Estimated Impacts: Total $ 3,702,000 available bus service revenues for 2016 — <br /> • CHT would benefit by 64% of the available revenues = $ 2,369,280 of which up to $ <br /> 720,000 could be used to support existing services provided by CHT with $ 1,649,280 <br /> going to new services initiated after passage of the referendum. <br /> • OPT would benefit by 12% of the available revenues = $ 444,240 of which up to $ <br /> 80,000 could be used to support existing services provided by OPT with $ 364,240 <br /> going to new services initiated after passage of the referendum <br /> • TTA would benefit by 24% of the available revenues = $ 888,480 going to new services <br /> initiated after passage of the referendum. <br /> SUMMARIZING: <br /> CHT's $ 720,000 for existing services = 30% of its 64% share of total bus service revenues <br /> (2016) and 19.5% of the total bus service revenues (2016). <br />