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20 <br /> Mindy Taylor, GoTriangle Senior Financial Analyst, said FTA wants to see not only the <br /> capital costs of the project, but the portion of financing costs that are eligible for federal <br /> reimbursement. <br /> Commissioner McKee asked if the financing cost, covered by FTA, only goes out to <br /> 2032 or 2035. <br /> Mindy Taylor said it is until 2032, which is the amount of time it takes to disperse the <br /> federal funding share. <br /> Commissioner McKee asked if the Counties incur every dollar thereafter. <br /> Mindy Taylor said yes. <br /> Commissioner Jacobs said every time the costs are mentioned, the cost to which the <br /> speaker is referring should also be mentioned. He said a lot of people see that the project <br /> costs have jumped, and he said this is because GoTriangle went from present dollars to year <br /> of expenditure dollars, and this should also be restated with frequency; all in the effort for <br /> transparency. <br /> Commissioner Price referred to the Transportation Infrastructure Finance and <br /> Innovation Act (TIFIA) debt funding, and asked if there is limit to the amount for which the <br /> project would be eligible. She said her concern is that the state funding is not guaranteed, and <br /> wonders what will happen if more funds need to be borrowed. She referred to the New Starts <br /> grant, and heard that these will only be available for projects that are shovel ready within 90 <br /> days. <br /> Mitch Brigulio said TIFIA funding has to be applied for through the federal government, <br /> and there is no set cap to what can be applied for, but the loan will be awarded based upon <br /> the application and what the government feels is the right number to award. He said part of <br /> this is driven by what the revenues and expenditures are and what can be paid back. <br /> Commissioner McKee said he challenged a number in a bullet point that states <br /> $37,445,121 is spent through the third quarter of 2017. He said in December 2016 or <br /> February 2017, GoTriangle sent him an outline of expenses for each year, and it was at $37 <br /> million in February 2016. <br /> • Scenario 3 v9 C implements the following cost share assumptions: <br /> o Operating Cost Share:80% Durham I 20% Orange <br /> o State of Good Repair Cost Share:80% Durham I 20% Orange <br /> o Capital Cost Share:82% Durham I 18% Orange <br /> o Financing Cost Share:82% Durham I 18% Orange <br /> • $37,445,121 has been spent on the DO LRT through the third quarter of FY 2017. <br /> o $28,664,366 was funded through Durham County Revenues and $8,780,755 <br /> was funded through Orange County Revenues. <br /> • Through FY 2018, it is estimated that $100,282,782 will be spent on the DO LRT <br /> project. <br /> o $82,231,881 is funded through Durham County revenues and $18,050,901 is <br /> funded through Orange County revenues. <br /> • Through FY 2020, it is estimated that $206,227,131 will be spent on the DO LRT <br /> project. <br /> o $169,106,248 is funded through Durham County revenues and $37,120,884 is <br /> funded through Orange County revenues. <br /> DO LRT Project Plan of Finance <br />