2016-472 County Atty - Wake County, et al - Interlocal Agreement re Mutual Understanding as to the Scope and Content of the Financial Plan (not final)

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EXHIBIT A pg. 14 of 69 A one-half cent sales tax In Durham County is estimated to generate$18.4 million. Over the life of the plan to 2035,the sales tax Is expected to generate$625 million in Year-Of- Expenditure(YOE)dollars. Implementation of the Plan as described above is subject to authorization of a referendum by the Durham Board of County Commissioners and approval by the voters. D. $Z Vehicle Regist{alfon Fee in Durham County A seven dollar($7)vehicle registration fee in Durham County means that when an Individual registers a new vehicle or renews the registration for an existing vehicle in Durham County,an additional$7 per year Is added to the cost above the other required registration fees for that vehicle. The seven dollar fee in Durham County Is expected to bring in$1.58 million in 2012. Over the life of the plan to 2035,the seven dollar fee is expected to generate$58.1 million in Year-Of-Expenditure(YOE)dollars. E. $3 Vghicle RegistratiRn Fee Increase in Durham Courtty A three dollar($3)vehicle registration fee increase in Durham County means that when an individual registers a new vehicle or renews the registration for an existing vehicle In Durham County,an additional$3 per year is added to the cost above the other required registration fees for that vehicle.An existing$5 fee for vehicle registration supports activities of Triangle Transit,including bus operations and long-term planning.This fee would Increase to$8 after the$3 increase is implemented. The three dollar fee in Durham County is projected to generate$677,000 In 2012. Over the life of the plan to 2035,the three dollar fee Is expected to generate$24.9 million in Year-Of-Expenditure(YOE)dollars. F. Revenue from Triangle Transit's Rental Car Tax Triangle Transit operations are partially funded by a five percent(5%)tax on car rentals in Wake,Durham,and Orange Counties. Under existing policy adopted by the TTA Board, 50%of the rental revenues are dedicated to advancing long-range bus and rail transit. Since a significant portion of all cars rented and driven In the three counties are rented at RDU international Airport,it is difficult to determine which rentals are driven primarily in one county or another. Therefore,the 50%rental revenues dedicated to long-term transit were allocated by county according to the percentage of population in the Triangle Region,which Is;Wake(6896);Durham(21.596);Orange(10.5%). The Triangle Transit rental car tax proceeds directed to Durham County is estimated at $1.0 million in 2012. Over the life of the plan to 2035,the rental car tax is expected to generate$36 million in Year-Of-Expenditure(YOE)dollars for Durham County. Page 13 i I