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. 22 of 69 The Bus and Rail Investment Plan in Orange County I. INTRODUCTION Orange County has achieved an enviable quality of life at the end of the first decade of the 21't century. Recent accolades include its ranking as the one of the best place to live by Money Magazine,July 2010,one of the best places to start a business by Entrepreneur Magazine,August 2009and one of the best places in the nation to raise children by Business Week,December 2010. Orange County is nationally known for Its excellent public education systems.Two districts serve the residents of Orange County: The Chapel Hill-Carrboro City School System and the Orange County School System.The University of North Carolina at Chapel Hill consistently ranks among the great institutions of higher education in the nation, most recently honored by US News&World Report. With these successes comes growth in population and increased pressure on our roads and highways. Since 2004,the Triangle has moved from 46th largest metro area in the nation to 40th in 2009,and our vehicle demand on freeways Is up by 28%over those five years. Recently,our region was named the 3`d most sprawling urban area in the country among the 83 areas studied. In 2009,the Joint Long Range Transportation Plan for 2035, by the Durham-Chapel Hill- Carrboro Metropolitan Planning Organization(DCHC MPO)noted that the region's population would more than double over the 25-year period. For the last two decades,the demand on our roads has grown significantly faster than our population. Even with planned highway improvements and likely additional revenues for new roads,it is clear that Orange County and the region will see declining levels of service on major roads In the next 25 year:.. Orange County population grew by 1.6%a year since 2000 and Is projected to grow from the countywide 2010 census of 133,801 to approximately 173,000 by 2030. The economic costs for increasingly congested roads are significant. In Its 2010 Annual Urban Mobility Report,the Texas Transportation Institute estimated that our region has"congestion costs"of almost one-half billion dollars a year. Recently,a May 10,2011 study cited in Forbes magazine found that the Triangle was the urban region in the nation that Is most vulnerable to rising gasoline prices. Enhanced transportation options need to be created to ensure that Orange County's residents of all income levels have access to job centers and commerce. Orange County residents and their regional neighbors are aware of the growth in clogged roads,as well as the accompanying air quality problems,negative economic impacts and the loss of the quality of life we enjoy If these transportation challenges are not met. Local citizens and elected leaders have responded to these challenges,with some assistance from state government,as described in this investment plan. i i i 92712012-Pagel 3 i I i i