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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23 Orange County Transit Plan April 25, 2017 4.4.3 Upcoming Activities............................................................34 5.6 Cash Flow Summary................................................... 54 4.5 North-South Bus Rapid Transit Project........................34 5.7 Key Financial Issues.................................................... 56 4.5.1 Capital Costs,Schedule, and Funding Assumptions............35 4.5.2 Operating Costs,Schedule,and Funding Assumptions.......35 6. Implementation Activities...........................................58 4.5.3 Upcoming Activities............................................................36 6.1 Multi-Year Capital and Operating Programs............... 58 4.6 Durham-Orange Light Rail Transit Project...................36 6.2 Light-Rail Cost-Sharing Agreement............................. 59 4.6.1 Capital Costs,Schedule, and Funding Assumptions............36 4.6.2 Operating Costs,Schedule,and Funding Assumptions.......38 6.3 Project-Specific Agreements....................................... 59 4.6.3 State of Good Repair Costs,Schedule,and Funding 6.4 Annual Budgets.......................................................... 59 Assumptions......................................................................................38 4.6.4 Upcoming Activities............................................................38 6.5 Work Plans................................................................. 60 4.7 Administrative and Service Support............................40 6.6 Updating the Plan ...................................................... 60 4.7.1 Operating Costs,Schedule,and Funding Assumptions.......41 4.7.2 Upcoming Activities............................................................41 7. Development of this Plan and Public Involvement ......61 4.8 Additional Needs Identified in this Plan......................41 7.1 Notification of Availability.......................................... 61 4.8.1 Bus Service..........................................................................41 7.2 Opportunities to Provide Public Comment ................. 61 4.8.2 Vehicles...............................................................................42 4.8.3 Bus Facilities........................................................................42 7.3 Opportunities to Learn About the Transit Plans.......... 62 4.8.4 Hillsborough Train Station..................................................43 4.8.5 North-South Bus Rapid Transit Project...............................43 7.4 Dissemination of Comments....................................... 63 4.8.6 Durham-Orange Light Rail Transit Project..........................43 7.5 Summary of Comments.............................................. 63 4.8.7 Administrative and Service Support...................................43 7.5.1 Online Survey 64 5. Financial Plan.............................................................. 44 5.1 Dedicated Tax District Revenues.................................46 5.2 Financing Assumptions...............................................49 5.3 Interest Rates.............................................................51 5.4 Debt Service Coverage................................................51 5.5 Reserves.....................................................................54 5.5.1 Operations and maintenance.............................................54 5.5.2 Debt service........................................................................54 Final April 2017 ii