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18 <br /> 1 o The implementation period began in 2014 and is expected to conclude in 2028 <br /> 2 with construction beginning in 2020 <br /> 3 ➢ Hillsborough Train Station <br /> 4 ➢ GoTriangle has not included the following services and projects in the <br /> 5 New Starts Financial Plan: <br /> 6 ➢ GoTriangle's existing, non-Tax District revenues and expenditures <br /> 7 ➢ Other transit providers' existing services <br /> 8 ➢ Revenues received by other transit providers <br /> 9 ➢ Durham-Wake Commuter Rail Transit (D-W CRT) Project <br /> 10 ➢ Wake County Transit Plan revenues and expenditures <br /> 11 ➢ Full funding of North-South Corridor Bus Rapid Transit (N-S BRT) Project <br /> 12 <br /> 13 Note: While GoTriangle and the local transit providers' existing bus services are not included in <br /> 14 the County Transit Plans, these services are not anticipated to be impacted moving forward and <br /> 15 are not funded through Transit District Revenues. <br /> 16 <br /> 17 Commissioner McKee referred to the last item on the list of things that are not included, <br /> 18 and said he remembered that item to be $125 million. He asked if Ted Cole could explain what <br /> 19 would be gained from $6.1 million. He said there is a large disparity between the two. <br /> 20 Commissioner Jacobs said there is federal money that is drawn down that makes it <br /> 21 more than $6 million. He said full funding is not advocated or anticipated by the BOCC on BRT <br /> 22 as far as MLK, and he said one question he will have is what else can the BOCC do with the <br /> 23 $100 million. <br /> 24 <br /> 25 DO LRT Project Cost/ Funding Sources <br /> 26 <br /> 27 • The DO LRT project engineering, construction, and equipment cost is estimated to be <br /> 28 $2,388,568,428 in year of expenditure dollars. <br /> 29 o The project cost will be funded through a combination of: <br /> 30 ➢ FTA New Starts Grant: $1,194,284,2141 <br /> 31 ➢ State Funding Contribution: $238,856,843 <br /> 32 ➢ TIFIA Debt Funding: $430,000,000 <br /> 33 ➢ In Kind Contributions: $19,376,433 <br /> 34 ➢ Transit District Revenues: $506,050,938 <br /> 35 o The total cost of the DO LRT construction, including financing cost and interest <br /> 36 payments is estimated to be $3,302,320,4432. <br /> 37 <br /> 38 Commissioner Price asked if the in-kind contributions have been committed. <br /> 39 Ted Cole said memorandums of understanding (MOUs) have been committed for$10 <br /> 40 million. <br /> 41 Commissioner Burroughs referred to the footnote on page 5 of the PowerPoint, which <br /> 42 states it does not include capital, financing, and interest cost associated with the State of Good <br /> 43 Repair project. She asked if this was taken into account in figures presented later in the <br /> 44 analysis. <br /> 45 Ted Cole said the concept of state of good repair, which is in the outer years, is the <br /> 46 expectation of having to reinvest in the system for repair and maintenance, etc., and is not <br /> 47 captured in the $2.3 billion. He said as the presentation proceeds, the state of good repair will <br /> 48 be pulled in, and where some borrowings may be expected to help fund those future <br /> 49 investments in the system. <br />