Minutes 04-18-2017 - Laserfiche WebLink

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10 Mitigating risks Identified Risks • Cost Overruns • Federal Funding Availability and Schedule • State Funding Availability and Schedule • Sales Tax Growth Assumptions Mitigating Risks • 30% contingency • Modeled impacts of Moody's lower growth forecast • Value engineering and cost-cutting identified • Pursuing land donations and private contributions • Building in process through cost-share agreement of quarterly reports to Parties, and coming together if risks materialize to decide on course of action 2017 Draft Plans Ongoing implementation activities Ongoing Implementation Activities • Regular Meetings of Staff Working Group • Multi-Year Operating and Capital Improvement Programs updated annually • Annual Budgets • D-O LRT Cost Sharing Agreement • Other Project-Specific Agreements • Periodic Updates to County Transit Plan 2017 Draft Plans Public comment period Public Comment Period • Draft Plans to be released on March 30 for 21-Day Period • 2 Public Information Sessions for each Plan • Presentations to all local governments • Public hearings held by each county and DCHC • Staff Working Groups submit final plans to Boards on April 21 for consideration Commissioner McKee said in December he asked when this project would reach $3 billion, and it is now at $3.3 billion. He said he now wonders when the project will reach $4 billion. John Tallmadge said the financial plan will not sustain that amount. Jeff Mann, GoTriangle General Manager, said the estimates in December went through 2045, and this current plan is through 2062. Commissioner McKee said he asked the original question after the discussion on Transportation Infrastructure Finance and Innovation Act (TIFIA) loans. Commissioner Jacobs asked if the holder of the debt could be identified. John Tallmadge said GoTriangle issues all debt, and is responsible for repayment of the debt through the dedicated transit revenues. He said the counties do not incur the debt.