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Plan Implementation and Finance
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<br />Implementation
<br />Thesis" transit providers in Wake County have provided guidance
<br />and funding to hap develop Ant enhanced transit plan. AN currant
<br />services will be expwded es part of this plan and serval new services
<br />will be added. The transit agency responsible for operating and
<br />"w" n9 eeclu aiwnw t of the Transit M— wr1 be data rated during
<br />the next phase of phnnig end design, and will depend on geographic
<br />location, type aftedmology, coo. and anticipated efficiencies.
<br />Participating parties will enter into a fomW agreement defining roles.
<br />responsibilities, and coat Owing for Individual projects as ihy are
<br />pureed. During the 11" law months, Wake County and its partners
<br />will receive feed*& on the Wele Gnarly Remrvrwrded Transh Plan
<br />and begin the mops to appfOMe the governance structures neaassary for
<br />adoption of the plan and funding of the projects in it. This will include
<br />approval of a plan by Go Triangle and the CAMPO as wall as Wake
<br />County prior to the sales tax advisory referendum.
<br />The schedule of espial projects within the meter 10 years is dependant
<br />on multiple fac tors. indud'ng wcoeaful gram awards. The pmrning
<br />and design process may begin for to infrastructure projects OM CRT
<br />corridor and the for BRr corridors) wnvkwcously. or it"be p1 , ..
<br />Through dot procaas, the corridors will be priorkised based on 4*.sb ty
<br />and coat individual projects or WOups of projects will be submiterd for
<br />federal gro NW Saes Transportation inprov.mae Program CSTM
<br />funding.
<br />Since BRr an be built increment*, 'xnprovements --such as new
<br />busty signal prom imation, off4xwd fare collection, kwl-boarding
<br />static a„ or deal cased b is vsys —can be built in phases, For exWnP , the
<br />initial project mey iedude dedicated bu tsways on 50% of the cot idor and
<br />adddonat lane—les of dedicated b—sys will be added in future years
<br />as time sections of toed are widened. redeveloped at as additional
<br />fads become available. Corridors to we an1k*w19d to have NO
<br />ridership and fewer physical ooretairrb fdtaaby lower 9 impacts and
<br />coats) are ikelyto move faster through the federal funding process.
<br />To crate a more useful comrThv;ar, rag project, the CRT fete was assumed
<br />to *:tend from Corner to Durham as part of the first phase. A fine ending
<br />at RTP. and therefore airnast wronfy in Ware County, was considered.
<br />Mowevec successful commuter rag services running only during Peak
<br />hours rely heavily on a major dense employment centerwithin %*king
<br />distance of salons while NC Sate and dowrtow n Raleigh provide
<br />histo a degree, our analysis concluded dug downtown Dtaham and
<br />Duica University also need w be on tM loam genaaft strong t wwaj
<br />dernend sufficiam fortes One to succeed.
<br />jARRETT WALKER ♦ wh....[wr[s Kimley4H=
<br />The plar".9 and design of this extomm rag project can take longs
<br />than the BRr —. on because to CRT roe would need to be designed
<br />and than convected as one project, rather then ineren erRaly. The
<br />project will be a collaboration of many partners, notably the federal
<br />and state governments, Durham County, the North Carolina ftaiioed
<br />Campeny and mtaAdpaides and communrties involved in station
<br />plennin% The success of 1h$ project is depardent on the collaboratiorr
<br />o(the involved parties.
<br />The first few yeas tithe Recom neded Wake County Transit Plan
<br />tmrelve 9gnifKant design and furdw study for projects that require
<br />significerrt investment. This is to balance careful use of tax pryer dollars
<br />with d"ighthuf emm"em in transit The Transit Plan's approach is
<br />to use strategic leveraging of federal and stale pads, oo -1-ir ad with
<br />existing and new sources of 1oca l fading, to delver projects that
<br />connect regionalli, connect VM* County's commu Man provide
<br />fraqurnt urban mobility, and "local service. The inpleaneaauon of
<br />those projects and the done of them will evolve asthe design and
<br />study nwask new inforrrmtim
<br />Afar suconsM approval of tM half -cent sales tae advisory referendum,
<br />funds would be mfiecsed sorting in the Spring of 2017. some operating
<br />items in the Recommended Transit Plan w1 be naieeehle fairly scan.
<br />such as including increasing weeiand and evening service and some
<br />increases it middy frequency. Odw wo m, Ike new routes ow peak
<br />service increases, will be phased in as now buses are acquired and
<br />operations are deployed.
<br />Small cepitai projects, such as adding bus snips along new routes,
<br />can be done Bring the Transit Plan's initial yews The transit budget
<br />aBoaters funds towro a range of capital improvements, such as bus
<br />stops and stations, nicer buses ad perk and -ride kxa K" adjacent
<br />improvements, such as addtknal sidewala, would be paid for by local
<br />programs
<br />?1w trwvt partners will work together to develop a detagad
<br />im.plernentavion plan that will identify and pnontoe new enhanced
<br />bus service and faatiies. Detailed stories wig be conducted for Larger
<br />capital projects. The ouaome of these studies will inpt project
<br />implemerration. However, puisang service vent continue to operts and
<br />enhanced service will begin to deploy while lwger projects are shied
<br />and gradually constructed.
<br />Financial Plan Details a
<br />The Recomnanled Wake County Transit Plan is fiscally constrained
<br />and is contingent on a variety of assumptions. The asaampdons will
<br />evolve m information is modified and proiections are updated to reflect
<br />actual results. The projects included in the Transit Flan will carmine to
<br />be atudfed ad new infanenation may irluencetheir cost and timing.
<br />AcIck aly, overall irritation assumpbora, availability of local sources
<br />of revenue and growth aamunpl orm oompeution for federal funding
<br />for projects and wooessfuf amass to capital markets, and regional
<br />parawsFtips will continue to influence the overall financial outlook of fin
<br />Transt Plan. The following sections detail current assumptions.
<br />Sources of Revenue
<br />f WFtwnt Salsa Tax for Transit {Article 4M
<br />TM largest reaming local revenue source would be a half -ant kcal
<br />option sales oar as authofined by MO Z 105.164138. The transit plan
<br />assunnes Oat the Wake Canty Bond of Commssionas world vote to
<br />piece the local option sales tax fur transit on the ballot , which would be
<br />vend an in November 2016, Upon approval by Wale County voters. the
<br />sales tax would be adopted and funds would be available in spring 2017.
<br />To project ask. c dollars dust wo lid be aveikbla actual Wake County
<br />Article 39 gross revenues for fiscal yea 2015 served as the, ban. lens
<br />10% so Article 39 is c1wged on food pachem which arc prolsbibed to
<br />be tetrad as part of Article 43. Then, it was assumed that the local sales
<br />tax revenue would be half of that aruoum, as Amide 39 is one cant and
<br />Article 43 is one hall cent Using the Coumys same awanptbn for sales
<br />tax growth that is used in she Coun ys debt and capital inencid model,
<br />this amount was grown annaly, by 4%. Accordingly, to dtematives
<br />include an awmpnon dart the half -cent sake tax revere &Abble for
<br />rrrw transit would be 5785 million in FY 2018 and would grow by 4%
<br />annually them
<br />Otl+er load Ravery%e Samos
<br />trh scs to veh"cfe registration fees also are' —Wed in the assumptions
<br />for foal reverttie sources. Gnrertdy. GoTriangle otflects a fee of SS per
<br />regsVation tfioughout Wake. Durham and Orange Goumies, lbst is
<br />used to support transit activities in this dveelourxy service aura. This
<br />fee would irnerasse by $3, for a testa of S0. Second, a new $7 veNkle
<br />registration fee would be assessed by the Bead of Commiasianas, as
<br />s udromaed by NCGS 105507 Together, the vehicle registration fees
<br />would generate approKimately, S&5 Am a yea in fiscal yea 2MB and
<br />are projected to grow 2% a year thereafter.
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