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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79 Orange County Transit Plan April 25, 2017 Figure 5.6-1. Cash Balances in Durham County(YOE) $200,000,000 $150,000,000 $100,000,000 $50,000,000 0 ■ I ■ ■ I I I I ,y0 ,y0 ti0 'fl y0 ,y0 ,LO ,y0 ,LO ,y0 "ti y0 ,y0 ,y0 y0 ,LO ,y0 "y ,ti0 ,y0 y0 ti0 y0 ,y0 ,LO ,y0 ,LO y0 y0 Grant Agreement in fiscal year 2020. Once the Full Funding funding debt service, operations, maintenance and reserves is Grant Agreement is executed, the disbursement of federal $3.8 million in FY 2019, before the first disbursement of grant funds will begin at the rate of $100 million YOE per year (18 funds for the D-0 LRT Project. percent of which is reflected in the Orange cash flow). As project construction expenditures begin to outpace the federal Figure 5.5-1 shows the projected cash balance of this Plan from disbursement schedule,financing will be needed to address the fiscal year 2017 through fiscal year 2045. As a point of timing differences. Project construction will be complete in comparison, Figure 5.6-1 shows the projected cash balance of fiscal year 2028, and operations and maintenance for the Durham County under the Durham Plan,and Figure 5.7-1 shows project will begin in fiscal year 2029. From that point on, the both cash balances in the same chart. The variation in long- primary expenses in the cash flow will be operating and term cash balances in Orange County is due to the funding of maintaining the transit system in a state of good repair as well capital asset replacement costs for the D-0 LRT Project. as funding debt service. Tax District Revenues are projected to be sufficient to fund these expenses, but the capacity for Year-by-year information about projected revenues and expansion is limited in the long term. From fiscal years 2017 expenditures is provided in Appendix A. through 2045, the minimum projected cash balance after Final Page 55 of 65