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16 <br /> The station will be served by two Amtrak passenger train routes that already pass <br /> through Hillsborough —the Carolinian, which travels between Charlotte and New York <br /> twice daily, and the Piedmont, which makes travels between Charlotte and Raleigh four <br /> times daily <br /> Durham-Orange Light Rail Transit Project <br /> During the year, GoTriangle continued work on the proposed 17-mile Durham-Orange <br /> Light Rail Transit Project. The proposed light rail line will run from Chapel Hill to East <br /> Durham, serve UNC Hospitals and UNC, the Friday Center, Patterson Place, Duke <br /> University, Duke University Medical Center, the VA Medical Center, downtown Durham, <br /> and East Durham. <br /> Environmental work underway will lead to a Draft Environmental Impact Statement in <br /> the fall of 2015 (FY16) and a Final Environmental Impact Statement/Record of Decision <br /> in early calendar year 2016. <br /> The Draft Environmental Impact Statement on the Project shows a cost range between <br /> $1.4 billion and $1.6 billion. The Orange voter-approved one-half cent sales tax will help fund <br /> the 25% local share of the D-O LRT Project. <br /> John Tallmadge said it is hoped that the state cap, which was put on last year, will be <br /> removed at some point. <br /> Financials <br /> John Tallmadge said they are running slightly ahead of projections <br /> The FY15 revenues and expenses for the Orange Bus and Rail Investment Plan are shown <br /> below. The revenues to fund the Transit Plan include a voter-approved one-half cent sales tax, <br /> a seven-dollar county vehicle registration fee, a three-dollar regional registration fee and a <br /> portion of the five percent regional vehicle rental tax. Expenditures include light rail project <br /> development, bus services and administration. <br /> FY 2015 Revenues*** FY 2015** <br /> Orange voter-approved one-half cent sales tax: $ 6,189,162 <br /> $7 vehicle registration fee: $ 760,711 <br /> $3 vehicle registration fee: $ 238,368 <br /> 5% vehicle rental tax: $ 501,185 <br /> Total $ 7,689,426 <br /> FY2015 Expenses FY 2015** <br /> Light Rail Development $ 3,322,213 <br /> Bus Services* $ 1,379,291 <br /> Administration $ 46,657 <br /> Total $ 4,748,161 <br /> John Tallmadge said the FY15 ending reserves total $9,171,186; (FY14 $6,125,406; <br /> FY13 $1,112,228). He said the reserves will be used for services and capital projects. <br /> Next Steps <br />