Minutes 04-04-2017 - Laserfiche WebLink

Browse Search

31 one to year 40, on a 4% track over the long term; but it is another thing to hit every single year with dollars growing. He said this model requires the dollars growing every year, and a delay in the dollars made up in later years, does not necessarily work. Commissioner McKee asked Jeff Mann where one could go to find information on the resale value of used locomotives for light rail. Jeff Mann said he could research this question, but typically these vehicles have a long life, and he is unaware of an active resale market. Commissioner McKee said the assets back the loans, and the only sellable asset he sees are the carriages and locomotives, the land, and the buildings, with the rest being scrap. He said he does not see $2.4 billion worth of assets. Commissioner McKee said he submitted a list of questions to GoTriangle on Monday through Travis Myren. He said these questions were from Dr. Ghysels. He said it is his understanding that Dr. Ghysles tried to speak to Moody's, and Moody's would not speak to him, as GoTriangle was the owner of the report. He asked if GoTriangle will answer the list of questions in a timely fashion, and authorize Moody's to speak with Dr. Ghysels. Mindy Taylor said GoTriangle did receive this request, and spoke with Moody's, who is in the process of preparing a memorandum to address as many of the questions as possible. She said some of the requested information is proprietary, and GoTriangle will need to review its contract with Moody's. She said it is not typical to give this type of information away without a non-disclosure agreement. Commissioner McKee asked John Roberts if he could research whether the ownership of that information belongs to GoTriangle, Moody's or the taxpayers. Chair Dorosin said it is time to wrap up this conversation. Commissioner Jacobs said he does not want to wrap this up, as this is one of the only opportunities that the BOCC has to ask questions with both Davenport and GoTriangle in attendance. He said the BOCC must get their questions answered. Commissioner Rich referred to contingent liability, and she wanted to understand how the County is being protected. She asked if this information could please be forwarded to her. John Roberts said he will go back and look at comments and research this for the BOCC. Commissioner Burroughs said the cost-sharing agreement with Durham County at 82/18 does not work for her. She asked for all involved to talk to Durham about reducing the cost sharing for Orange County. She said she sees great value in having LRT, but the split will need to be significantly different for her to vote favorably. Commissioner Marcoplos referred to buses, and whether there will be any revenue left to expand the buses for new routes. He asked if the remaining funds are for new bus routes. He also asked if the current buses can be deployed elsewhere, once the LRT is in place, and if that is in addition to the projected bus expansion that is in the BRIP. Mindy Taylor said whether the additional dollars will go to new routes, or to additional hours on existing routes, is a question for the individual transit providers. She said this information is laid out in the draft Orange transit plan. Commissioner Marcoplos asked if that plan utilizes these buses that will be re-located and re-routed, or are those buses gravy on top of the existing buses. Danny Rogers said this is referred to as dividend hours, some of which is GoTriangle, but majority of which is Chapel Hill Public Transit. He said there are agreements with Carrboro, Chapel Hill and UNC, and most of that is provided by UNC. He said the way in which these dividend hours are divided would be up to those entities. He said this is fully expected to happen, and would allow for a fairly significant amount of buses to provide connections to the LRT, and other parts of the area.