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72 <br /> H. FTA Formula Funds <br /> The plan assumes that new bus services will receive partial operating and capital cost <br /> contributions through existing formula programs established by the Federal Transit <br /> Administration (FTA), and that transit agencies in Orange County will receive those <br /> contributions in accordance with historical patterns of funding that existing transit services <br /> have received. Over the life of the plan to 2035, FTA Formula funds are expected to total <br /> $70.9 million in Year-Of-Expenditure (YOE) dollars in Orange County. <br /> I. Additional Revenue Sources <br /> This draft Bus and Rail Investment Plan does not rely on additional municipal contributions, <br /> public or private third party contributions or value capture forms of revenue. <br /> VI. ORANGE FINANCIAL PLAN DATA <br /> The following is a list of the total spending for each technology and category identified in the <br /> Orange County Bus and Rail Investment Plan to 2035. All figures are in Year of Expenditure <br /> dollars (YOE) unless otherwise noted. <br /> • Light Rail Capital: $418.3 million ($316.2 million in 2011 dollars) <br /> • Light Rail Operations: $59.1 million <br /> • Bus Capital: <br /> o MLK Bus Lanes - $24.5 million <br /> o Miscellaneous Bus Capital Projects- $6.7 million <br /> o Buses purchased -$17.6 million <br /> • Bus Operations: $106.8 million <br /> • Hillsborough Intercity Rail Station: $8.9 million ($8.0 million in 2011 dollars; Orange <br /> County will only be responsible for a 10% matching contribution to total cost) <br /> • Amount of debt service payments made by Triangle Transit through 2035: $19.2 <br /> million <br /> Note Regarding Borrowing: Amount borrowed by Triangle Transit to execute <br /> the plan: $25 million (this number is larger than the line above because debt <br /> payments are over 30-year terms and continue past 2035) <br /> Additional specific financial information on each of these plan elements can be found in the <br /> Appendices. <br /> VII. AGREEMENTS <br /> IMPLEMENTATION AGREEMENT:ANNUAL REVIEW AND CHANGES TO THE PLAN <br /> The Bus and Rail Investment Plan in Orange County details the specific elements of local and <br /> regional bus service, and Light Rail service to be added in Orange County over a 23-year <br /> period. Because of the long time frame for implementation of the Plan and its major capital <br /> projects, over time there will be changes and revisions made to the Plan. As the statutory <br /> implementation agency,Triangle Transit will work with Orange County, the DCHC <br /> Metropolitan Planning Organization (MPO), and the towns of Chapel Hill, Carrboro, <br /> 9/ 4/ G - Page 125 <br />