Agenda - 01-24-2017 - 6-a - Minutes

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25 1 Chair McKee referred to the slide the mentions the revenues percentage projections for 2 the sales tax increases, and he said he questioned a 5% increase has been achieved every 3 year, and he thinks they have been fairly flat over the last 2-3 years. 4 Danny Rogers said that is correct, but over 10 years there was growth of 5.7%. He said 5 that is over a longer period of time. 6 Chair McKee said he questions if the County will ever reach these consistent 7 percentages. 8 Danny Rogers said a more current update on this question is being gathered. He said 9 the numbers are lower for Orange County, and a bit higher for Durham County. 10 Chair McKee asked if the current projected total cost for the light rail could be clarified. 11 Danny Rogers said that is a complicated question, but the total cost in current dollars is 12 $1.6 billion. He said it is a goal to add the NCCU extension, which would be about $90-110 13 million. He said joint development can be included in the project, such as affordable housing, to 14 help leverage federal dollars. He said current efforts are looking at how to build the project, 15 with an original goal of finishing in 2026. He said one thing that is affecting the ability to pay for 16 the project is whether$100 million or $125 million is received. He said the gap of $25 million 17 gets exacerbated when the construction period does not match the reimbursement period. He 18 said the construction period has been extended a few years, to better match the expenditures 19 with the revenues; but doing this increases inflation by about $2.3 billion, if the project is 20 completed in 2028. 21 Commissioner Rich asked if the increase on the Chapel Hill BRT could be identified. 22 Danny Rogers said from $25 million to a little over $100 million. 23 Jeff Mann said the original estimate was $40 million, and it is now$125 million; due to 24 an extension and some cost estimates that have increased. He said this is included in the 25 financial model. 26 Commissioner Jacobs clarified that it is included in the new financial model. 27 Commissioner Jacobs referred to private capital contributions, and asked are there any 28 actual commitments yet. 29 Danny Rogers said there are commitments for Right of Way (ROW), and they are 30 working with partners on funding, which is being received well. 31 Jeff Mann said some draft letters of intent have been delivered, and things looks 32 promising. 33 Commissioner Pelissier referred to putting the BRT into the financial model, and asked if 34 there is a way to make it later so there would not be the gap during construction of the light rail. 35 Danny Rogers said probably not. 36 Commissioner Pelissier asked if the timeframe for the BRT could be reviewed. 37 Danny Rogers said 2019, and it hits before the main part of the LRT. 38 Commissioner Jacobs asked if the entities who are a party to the implementation plan 39 are Orange County, MPO, Durham County, Go Triangle. He said Chapel Hill is not actually a 40 party to this agreement. He said parties who are not a party to the agreement can triple the 41 cost of a project that they desire, and it becomes part of the plan without the actual parties 42 being able to vote on it. 43 Patrick McDonough, Manager of Planning for GoTriangle, said they are trying to figure 44 out how to deliver projects for which people voted. 45 Commissioner Jacobs said the BRT is a lovely plan, but is a much larger plan than the 46 voters approved, and the question needs to be asked if it worth tripling the cost. 47 Commissioner Price asked if the commitments from the private sector are contingent 48 upon Orange County's decision.