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26 <br /> Danny Rogers said from $25 million to a little over $100 million. <br /> Jeff Mann said the original estimate was $40 million, and it is now $125 million; due to <br /> an extension and some cost estimates that have increased. He said this is included in the <br /> financial model. <br /> Commissioner Jacobs clarified that it is included in the new financial model. <br /> Commissioner Jacobs referred to private capital contributions, and asked are there any <br /> actual commitments yet. <br /> Danny Rogers said there are commitments for Right of Way (ROW), and they are <br /> working with partners on funding, which is being received well. <br /> Jeff Mann said some draft letters of intent have been delivered, and things looks <br /> promising. <br /> Commissioner Pelissier referred to putting the BRT into the financial model, and asked <br /> if there is a way to make it later so there would not be the gap during construction of the light <br /> rail. <br /> Danny Rogers said probably not. <br /> Commissioner Pelissier asked if the timeframe for the BRT could be reviewed. <br /> Danny Rogers said 2019, and it hits before the main part of the LRT. <br /> Commissioner Jacobs asked if the entities who are a party to the implementation plan <br /> are Orange County, MPO, Durham County, Go Triangle. He said Chapel Hill is not actually a <br /> party to this agreement. He said parties who are not a party to the agreement can triple the <br /> cost of a project that they desire, and it becomes part of the plan without the actual parties <br /> being able to vote on it. <br /> Patrick McDonough, Manager of Planning for GoTriangle, said they are trying to figure <br /> out how to deliver projects for which people voted. <br /> Commissioner Jacobs said the BRT is a lovely plan, but is a much larger plan than the <br /> voters approved, and the question needs to be asked if it worth tripling the cost. <br /> Commissioner Price asked if the commitments from the private sector are contingent <br /> upon Orange County's decision. <br /> Danny Rogers said their commitments are contingent on the project happening, but not <br /> on Orange County's decision. He said these discussions have been happening on a parallel <br /> path. <br /> Commissioner Price asked if the $25 million, indicated in the presentation, is the total of <br /> the cumulative private capital. <br /> Danny Rogers said a plan is being created to present to the Federal Transportation <br /> Administration (FTA). He said the $25 million is a placeholder, and the totals could be more. <br /> Commissioner Rich said $25 million is a low number. <br /> Danny Rogers said there is a limit as to how much can be put in the plan, until there are <br /> more commitments. <br /> Commissioner Dorosin said he wanted some clarification regarding the Board's task <br /> this evening. He said there is a tight time line for the Board to give some kind of general <br /> approval to this plan, which includes the BRT and Light Rail extension to NCCU. <br /> Danny Rogers said nothing is being asked for right now, and they are still working <br /> through this process. He said more defined financial information will be brought back to the <br /> Board on December 5th. He said the Board will be asked to make a commitment to help find <br /> funding. <br /> Commissioner Dorosin clarified that there have been changes to state law, which has <br /> affected the costs. He said the Board must make a general policy commitment to understand <br /> and accept these changes; and then the Board must make a commitment to try and find funds <br /> to cover the increased costs. He said, today, that looks like an additional $4 million per year, <br />