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<br /> Plan Implementation and Finance
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<br /> Planned Expenditures replacement of busses for local bus service between 2018 and 2026, grown at 2.5%to account for inflation.The model assumes that by 2027' Q
<br /> which represents 116 buses. $129.3 million of operating will be in place and a total of$166 million of Z
<br /> Planned Expenditures and Inflation operating expenses will be incurred including allocations to fund balance _
<br /> P Also included in other capital is$24.37 million of locally funded grade and debt service expenses.A summary of 2027 local operating costs is LL
<br /> To ensure fiscal constraint,the Recommended Wake County Transit separation match funds allocated between 2018 and 2022.
<br /> Plan includes inflation estimates for project estimates and operating shown in Figure 27. D
<br /> costs.Project estimates for BRT,commuter rail,bus infrastructure,and Between 2025 and 2027,$35 million is available for future projects. Z
<br /> buses were estimated in 2015 dollars.Then,projects were programmed Between 2028 and 2037,other capital includes two components:bus Q
<br /> according to planned project schedules,and then escalated to year of replacement totaling$180 million and future projects totaling$264.5 Z
<br /> expenditure using an inflation factor of 4%.Local bus operating hours million. 0 Capital Funded Through 2027(with were calculated in 2015 dollars,and then escalated at 2.5%.Operating H
<br /> costs for commuter rail and BRT were estimated in 2015 dollars,and Debt Service and Debt Service Reserve Fund $(thousands) �
<br /> then inflated to the year the projects would begin,again using an As debt is issued for capital projects,principal and interest will be paid Commuter Rail $886,500 Z
<br /> inflation factor of 2.5%.The Recommended Wake County Transit on these projects.These dollars represent the corresponding debt Bus Rapid Transit $347,000 W
<br /> Plan contemplates a total of$1.6 billion of capital projects by 2027.A service on commuter rail,BRT,and various bus infrastructure projects I&
<br /> summary of all capital expenditures is shown in Figure 26. that are required during the first 20 years of the Recommended Wake Bus Acquisition $114,700 W
<br /> County Transit Plan. Bus Infrastructure $208,400 J
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<br /> Commuter Rail Capital Expenditures Other Capital Projects $24,500
<br /> The Commuter Rail capital expenditures include the Wake County share Operating Fund Balance Allocation —
<br /> of commuter rail.The Transit Plan proposes u to eight trains in each Future Projects $35,000
<br /> P P P 9 To ensure adequate operating liquidity,the Recommended Wake Z
<br /> peak with two mid-day and two in the evening,in each direction(8-2-8- County Transit Plan was developed with a target of that the operating Total $1,616,100 Q
<br /> 2).The final service hours and frequencies will be determined during the fund balance would have a minimum fund balance equal to 25%of J
<br /> Figure 26:Capitol Cost Summary
<br /> future alternatives analysis.To be conservative,included in the fiscal plan annual sales tax revenues.The dollars shown are the minimum allocation d
<br /> is an estimated 8-2-8-2 commuter rail service which would operate from *Capital costs reflect 2015 estimates inflated to year of expenditure by 4%each year
<br /> P to meet this requirement.
<br /> West Durham to Garner within the existing Norfolk Southern Railroad
<br /> corridor(owned by NCRR Company)by adding additional tracks and Capital Fund Balance Allocation
<br /> facilities.This would continue to be studied and refined during the first To demonstrate credit strength to manage risk,the Recommended Wake Local Service Operating
<br /> years of the Transit Plan,to confirm if this is the most viable approach Count Transit Plan also was developed with a target of having a capital
<br /> and is subject to funds from our partners and successful federal funding. y o p g g P $(thousands)
<br /> fund balance of 5/0 of capital projects cost.This capital fund balance Local Bus Network $85,300
<br /> is over and above individual capital budgets which may have their own
<br /> BRT Capital Expenditures project contingencies.Maintaining sufficient liquidity during construction BRT $14,500
<br /> The BRT Capital Expenditures include four BRT corridors totaling$347 activity is an important credit strength for rating agencies.The capital Commuter Rail $20,100
<br /> million between 2018 and 2023 as shown below.Dollars programmed fund balance allocation is timed to when significant debt issuances
<br /> including planning and design,construction,and acquisition of vehicles would begin for capital projects funded in the Wake County Transit Plan. Other Bus Operations $7,100
<br /> for the corridors. Maintenance and Operations $2,300
<br /> Operating Expenses Total $129,337
<br /> Other Capital Expenditures There are five categories of operating expenses combined.The first is
<br /> Significant resources are allocated for capital infrastructure to support a local bus service,which increases from$22 million in FY 2018 to$85 Figure 27:Local Service operating Costs in 2027
<br /> rapidly increasing local bus network.Bus infrastructure,which includes million in FY 2027.Added to that is BRT service,beginning in the model **Operating costs reflect 2015 estimates inflated to year of expenditure by 2.5%
<br /> transfer stations,park and ride lots,bus stop improvements,bus in 2024.Other operating funds include maintenance and operations each year
<br /> maintenance facilities,sidewalk access and streetside facilities,and other for bus facilities and other related bus operations such as small town
<br /> improvements,is programmed for$208 million between 2018 and 2024. local service matching funds,paratransit service,and other professional
<br /> A summary of these items is shown below. services.Finally,commuter rail is shown starting in 2027,and adds an
<br /> Moreover,$114 million is allocated towards the acquisition and additional$20 million of operating expenses.All operating expenses are
<br /> JARRETT WALKER + ASSOCIATES KimleyoHorn Wake County Transit Investment Strategy 135
<br /> Recommended Wake County Transit Plan
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