Agenda - 04-27-2017 - 1 - Consideration of the Final Draft Durham – Orange Light Rail Cost Sharing Agreement and Final Draft Orange County Transit Plan

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73 Orange County Transit Plan April 25, 2017 Figure 5.1-1:Year by Year Revenue Comparison(in thousands of$$) 5.1.1.6 Projected Transit Tax Revenues, ..- Half-Cent Sales Tax $6,560 $5,000 $1,560 From fiscal year 2017 through fiscal year 2045, Orange County's • GoTriangle Vehicle Rental Tax $470 $600 ($130) half-cent sales tax revenue is projected to generate $344.1 $7 Vehicle Registration Fee $570 $800 ($230) million YOE. The vehicle rental tax allocated to Orange County $3 Vehi�gistration Fee $0 $400 ($400)' projected to total $33.0 million YOE. The seven dollar and ) Total Revenues $7,600 $6,800 $800 three dollar vehicle registration fees are expected to generate Percentage projected vs actual 112% $37.4 million YOE and $16.0 million YOE, respectively. In total, Half-Cent Sales Tax $6,190 $5,100 $1,090 these local transit tax revenues are projected to generate $430.6 million YOE from fiscal year 2017 through fiscal year • GoTriangle Vehicle Rental Tax $500 $600 ($100) 2045. $7 Vehicle Registration Fee $810 $800 $10 $240 $400 ($160J 5.2 Financing Assumptions Total Revenues $7,740 $6,900 $840 Percentage projected vs actual 112% A portion of the construction cost of the Durham-Orange Light Half-Cent Sales Tax $6,160 $5,300 $860 Rail Transit Project will be debt funded,with financing proceeds • GoTriangle Vehicle Rental Tax $540 $600 ($60) shown as revenues and debt service shown as expenses. In both . $7 Vehicle Registration Fee $770 $800 ($30) the original Plan and this Plan. GoTriangle, as administrator of $330 $400 ($70) the Tax District, is the sole issuer of debt. The financial plan ' Total Revenues $7,800 $7,100 $700 does not rely on or assume any debt issuances from parties Percentage projected vs actual 110% other than GoTriangle. Half-Cent Sales Tax $3,140 $2,700 $440 The 2012 Plan assumed that in order to fund the projects and GoTriangle Vehicle Rental Tax $310 $300 $10 services proposed for Orange County, $25 million YOE in Tax $7 Vehicle Registration Fee $390 $400 ($10) District long-term borrowing would be required. This updated jM $200 ($30 Plan, in response to reductions in state and federal revenues, Total Revenues $4,010 $3,600 $410 adjusts this total borrowing to a total of approximately $209.4 ' Percentage projected vs actual 111% million (YOE). The $209.4 million is to be a combination of Projected revenues provided in original Plan short-and long-term borrowing, to be repaid by a combination Total revenues include interest and investment butexclude grants of federal grants and Orange County's dedicated transit tax revenues. Final Page 49 of 65