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11 <br /> o Anticipated approval by FTA is by the end of February, 2017 <br /> • Biggest issue remaining is Financial Plan <br /> o FTA funding assumptions change <br /> o Funding Gap Remains <br /> o 30% of Non-New Starts funding must be committed <br /> • Revenues dedicated in the Plan meet this requirement <br /> • Remainder must be planned <br /> • Entry into Engineering Schedule is Critical <br /> o FTA has required D-O LRT to be in Engineering by March or must drop out of <br /> New Starts Program <br /> o Project expenses incurred when project is not in the process are not eligible for <br /> future FTA reimbursement <br /> o Cost to date for project are reimbursable upon obtaining Full Funding Grant <br /> Agreement (FFGA) <br /> State and Federal Transit Funding Changes Since Approval of Plan <br /> Bus Service <br /> • State: 7.5% <br /> • Local: 92.5% <br /> Vehicles, Bus Stops, Park and Rides <br /> • Federal: 80% 4 38% <br /> • State: 10% 4 8% <br /> • Local/Other: 10% 4 54% <br /> Light Rail, Commuter Rail <br /> • Federal: 50% 4 50% <br /> • State: 25% 4 10% <br /> • Local/Other: 25% 4 40% <br /> Bus Rapid Transit <br /> • Federal: 50% 4 70% <br /> • State: 25% 4 0% <br /> • Local/Other: 25% 4 30% <br /> Hillsborough Train Station <br /> • State: 90% 4 91% <br /> • Local: 10% 4 9% <br /> Local Transit Revenues (Shared by Bus and Rail) (graph) <br /> Sales Tax by Article (graph) <br /> D-O LRT Capital Funding Sources (graph) <br /> Financial Model Notes <br /> 1. Both scenarios use forecasts developed by Dr. Walden in 2014 <br /> 2. Baseline Scenario assumes FTA disbursements of$125 million per year <br /> 3. Scenario One reduces FTA disbursements to $100 million per year <br /> 4. All Scenarios assume 10% State participation <br /> Funding Gap <br />