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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59 Orange County Transit Plan April 25, 2017 The original Plan included a project referred to as "Martin The capital funding plan is also different from the original Plan. Luther King Jr. Boulevard Bus Lanes and Corridor The original Plan assumed a federal funding share of 50 percent Improvements," with the project boundary starting at Eubanks and a state share of 25 percent. Chapel Hill Transit expects to Road near 1-40 and ending at the University of North Carolina apply for a grant from the FTA Section 5309 Small Starts (UNC) campus. The project was not well defined at that time. program for 70 percent of the project cost. The amount of funds committed from the dedicated Tax District revenue is During the North-South Corridor Study, which was guided by currently $6.1 million YOE, to be accessed on a pay-as-you-go significant public and stakeholder involvement, the project basis, which is the same amount dedicated in the original Plan. scope was extended beyond UNC to the Southern Village Park This amount can be considered a minimum and will be revisited and Ride lot. The study began in 2014 and concluded in the in the future if local transit revenues are available. The 2016 with the adoption of the LPA. In November 2016, the anticipated capital funding plan for the project is presented in North-South BRT Project was accepted into the FTA's Small Table 4.5-1. Starts Project Development phase where it will be further defined and shaped. As the project proceeds through the Project Development phase, Chapel Hill Transit will refine the cost estimates, continue to apply for State funding and explore other funding The estimated capital cost of the project is $125.8 million YOE, opportunities. an increase in cost from the original Plan. The project is Table 4.5-1: N-S BRT Project Capital Funding Plan(YOE millions) currently scheduled to open in calendar year 2022, although the opening date is subject to change based on the outcome of - - ° the project's environmental and design work. Tax-District Revenue $6.1 $6.1 Federal Funds $12.3 $88.1 State Funds $6.1 $0.0 Buses operate every 4 minutes and have Other Funds $0.0 $31.6 standing room only Exceeding Total $24.5 $125.8 Mft seated °fa All - = capacity by As in the original Plan, there are no funds from the dedicated Tax District Revenues that are planned for the operating cost of the N-S BRT Project. Final Page 35 of 65