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61 <br /> Orange County Transit Plan April 25, 2017 <br /> disbursement of federal funds (anticipated 2032). This capital Table 4.6-1: D-O LRT Project Capital Cost Updates(2016 millions) <br /> cost was reviewed by the FTA and accepted for entry into New <br /> Starts Engineering. '" _ °�� M' , <br /> Level of Design Conceptual 30% <br /> The capital cost includes $2,126 million YOE for the original Original Scope (UNC-Alston Ave) $1,605* $1,668** <br /> project scope (UNC Hospitals — Alston Avenue), $133 million Joint Development (Optional) n/a $101 <br /> YOE for the segment from the Alston Avenue station to the NCCU Station n/a $108 <br /> NCCU station, and $88 million YOE in finance charges eligible Eligible Finance Charges n/a $61 <br /> for federal participation. The project cost includes $130 million Total $1,605 $1,877 <br /> YOE in Joint Development, of which $65 million YOE would <br /> come from local sources outside of the Tax District Revenue. * $1,378 in 2011 dollars,escalated to 2016 dollars at 3.1%annually <br /> ** $1,598 in 2015 dollars,escalated to 2016 dollars at 3.1%annually <br /> The Joint Development component is entirely optional and <br /> could be funded by government or private sources, and could Table 4.6-2: D-O LRT Project Capital Cost Updates(YOE millions) <br /> be used to leverage local funds to meet local priorities such as <br /> increasing the supply of additional affordable housing within <br /> D-O LRT station areas. The D-O LRT Project is expected to open Construction Completion Date 2026 2028 <br /> in calendar year 2028. Original Scope (UNC-Alston Ave) $1,823 $2,126 <br /> Details of project cost changes between the original Plan and Joint Development (Optional) n/a $130 <br /> this updated Plan are provided in Table 4.6-1 and Table 4.6-2. NCCU Station n/a $133 <br /> Eligible Finance Charges n/a $88 <br /> Total $1,823 $2,476 <br /> Project funding assumptions are also substantially different in <br /> this Plan. The original Plan assumed 25 percent state funding <br /> for the project.That assumption was consistent with prior state <br /> support for the Charlotte Lynx Blue Line in 2003 and the <br /> Charlotte Lynx Blue Line Extension in 2012. However, in June <br /> 2016, the General Assembly adopted a provision that imposes <br /> a state funding cap of ten percent for rail transit projects. The <br /> provision also made the D-O LRT Project ineligible for re-entry <br /> into the competitive system for state funding until the next <br /> Final Page 37 of 65 <br />