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26 <br /> Orange Light Rail Transit Project. The counties are not being asked to invest any additional <br /> funds for the project at this time <br /> The funding gap is approximately $250 Million in Year-of-Expenditure (YOE) Dollars. <br /> In 2016, the North Carolina General Assembly capped available state funding for light rail at <br /> 10% of the project's cost, as opposed to the 25% that was previously awarded to two similar <br /> projects in Charlotte <br /> The Federal Transit Administration is still expected to invest 50% in federal funds for <br /> Durham and Orange Counties' light rail project (D-O LRT Project), contingent on the remaining <br /> 50% coming from the existing dedicated transit revenues, state, local or other funding sources <br /> Before Durham and Orange counties are formally asked to commit additional funds to <br /> complete their light rail project, GoTriangle will continue to work with the counties, the Funding <br /> and Community Collaborative, and community partners to find ways to reduce the funding gap. <br /> Durham-Orange LRT <br /> • Funding Gap <br /> • Cost of D-O LRT Project <br /> • Request for Memorandum of Understanding (MOU) to explore additional funding <br /> sources <br /> • Schedule of next steps <br /> Danny Rogers presented this portion of the PowerPoint: <br /> What is the Funding Gap? <br /> Gap = $250 Million in Year-of-Expenditure (YOE) Dollars <br /> • Gap is for entire combined Durham and Orange Transit Plan <br /> • Includes future funds to operate and maintain full bus and rail system, including <br /> vehicle replacements and state of good repair for D-O LRT Project <br /> • Bus Operations funded first for Orange Public Transportation, Chapel Hill <br /> Transit, GoDurham, Durham County, and GoTriangle services in Durham and <br /> Orange Counties <br /> • Financial plan includes buildout of revised Chapel Hill Bus Rapid Transit (BRT) <br /> Project, Hillsborough Train Station, and amended D-O LRT Project including <br /> Joint Development and NCCU Station <br /> Why Is There A Gap? <br /> Bus Service <br /> State: 7.5% <br /> Local: 92.5% <br /> Vehicles, Bus Stops, Park and Rides <br /> Federal: 80% - 38% <br /> State: 10% - 8% <br /> Local/Other: 10% - 54% <br /> Light Rail, Commuter Rail <br /> Federal: 50% - 50% <br /> State: 25% - 10% <br /> Local/Other: 25% - 40% <br /> Bus Rapid Transit <br /> Federal: 50% - 70% <br /> State: 25% - 0% <br />