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26 <br /> 1 <br /> 2 Danny Rogers presented this portion of the PowerPoint: <br /> 3 <br /> 4 What is the Funding Gap? <br /> 5 Gap = $250 Million in Year-of-Expenditure (YOE) Dollars <br /> 6 • Gap is for entire combined Durham and Orange Transit Plan <br /> 7 • Includes future funds to operate and maintain full bus and rail system, including <br /> 8 vehicle replacements and state of good repair for D-O LRT Project <br /> 9 • Bus Operations funded first for Orange Public Transportation, Chapel Hill <br /> 10 Transit, GoDurham, Durham County, and GoTriangle services in Durham and <br /> 11 Orange Counties <br /> 12 • Financial plan includes buildout of revised Chapel Hill Bus Rapid Transit (BRT) <br /> 13 Project, Hillsborough Train Station, and amended D-O LRT Project including <br /> 14 Joint Development and NCCU Station <br /> 15 <br /> 16 Why Is There A Gap? <br /> 17 Bus Service <br /> 18 State: 7.5% <br /> 19 Local: 92.5% <br /> 20 Vehicles, Bus Stops, Park and Rides <br /> 21 Federal: 80% - 38% <br /> 22 State: 10% - 8% <br /> 23 Local/Other: 10% - 54% <br /> 24 Light Rail, Commuter Rail <br /> 25 Federal: 50% - 50% <br /> 26 State: 25% - 10% <br /> 27 Local/Other: 25% - 40% <br /> 28 Bus Rapid Transit <br /> 29 Federal: 50% - 70% <br /> 30 State: 25% - 0% <br /> 31 Local/Other: 25% - 30% <br /> 32 Hillsborough Train Station <br /> 33 State: 90% - 91% <br /> 34 Local: 10% - 9% <br /> 35 <br /> 36 How Does the Current Project Estimate Compare to the Original Estimate? <br /> 37 Formula <br /> n <br /> 38 y = x(1+r) <br /> 39 <br /> 40 Variables <br /> 41 y = 2016 dollars <br /> 42 x = original year dollars <br /> 43 r = escalation rate <br /> 44 n = number of years <br /> 45 <br /> 46 LRT Construction Cost Updates (graph) <br /> 47 <br /> 48 LRT Construction Cost Updates (graph) <br /> 49 <br />