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4
<br /> Ted Cole said the first 2% will be used to offset Orange County's share according to
<br /> the Cost Share Agreement. He said any funds beyond that will be discussed as they are
<br /> received.
<br /> Commissioner Jacobs said the Board of County Commissioners (BOCC) is concerned
<br /> about Orange County's percentage of contribution. He said a Durham Commissioner spoke to
<br /> him today about splitting it 0.5% and 1.5%, so that Durham contributors could be told that the
<br /> support was going to Durham and Orange County. He said he is not sure that this will make
<br /> any difference to the County's financial position, but the proposal was raised.
<br /> Ted Cole said 0.5% should be somewhere between $4 and $5 million.
<br /> Ted Cole said the local shares are on lines 11 and 12, and round out the total initial
<br /> capital budget of$2.38 billion.
<br /> Financings and Total Cost- page 8
<br /> 1 LRT IraG�G I C put I and Borrovdng Cost
<br /> 2 F...l...A New Starts Grant... Capital and Borrowing Costs $ 1235,427,397 37.53%
<br /> 3 State Funding- Capital and Borrowing Costs 245,026,598 7.44%
<br /> 4 In Kind Contributions
<br /> Orange County 3,487,758 0.11%
<br /> 6 Durham County 15,888,675 048%
<br /> 7 Joint Development Grants
<br /> 8 Orange County 11,716,747 0.36%
<br /> 9 Durham County 53,376,290 1..62%
<br /> 10 I.....ocal Share Private Capital Campaign' 18,120,000 0.55%
<br /> 11 Local Share - Orange County 292,663,252 8„89%
<br /> 12 I.....ocal Share Durham County t415,790,368 43.01%
<br /> 13 Total I_R-I Initial Capital and Borrowing Cost $ 3,291,497,084 100.00%
<br /> 14
<br /> 15 Orange County LRT State of Good Rep R throLfgh 2062
<br /> 16 Cash Funding $_ 17,948,360
<br /> 17 Debt Funding 72,000,000
<br /> 18 Interest and Borrowing Costs 10,773,118
<br /> 19 Total State of Good Repair 1.00,721,478
<br /> 20
<br /> 21 Orange County H.narajng Assu.rrnptG ns
<br /> 22 I.....ocally Funded I.....° s Initial I R7::: 72,500,000
<br /> 23 Grant Funded LOBs - Initial LRT 55,800,000
<br /> 24 1IFIA I.....oan Initial I R1 77,400,000
<br /> 25 Locally Funded LOBs -State of Good Repair 72,000,000
<br /> 26 total Orange County Financings $ 277,700,000
<br /> First $18,12 million Applied to Orange County
<br /> Commissioner McKee referred to line 26, and asked if this goes out to 2062, plus about
<br /> $138,562,000 for the capital outlay.
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