Notebook - Agenda - 06-21-2011, Item 8g

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• N INTRODUCTIO In 2009, the Intermodal Transportation Bill was introduced into law giving local entities operating urban transit systems the ability to implement local option taxes including a 'h cent local option sales tax. The tax can be used to support the continued development and implementation of improved urban public transportation services. Local option sales tax revenues can be used in part for operating or capital activities to support urban transit systems and associated rural feeder systems. In the Research Triangle area the urban systems affected by this legislation are Triangle Transit, Durham Area Transit, Chapel Hill Transit and Capital Area Transit. The legislation allows a transit authority (Triangle Transit) to levy a 'h cent sales tax in Orange, Durham and Wake counties to support the development of new transit services. Prior to Triangle Transit levying the tax, County Commissioners must first approve a local transit plan and authorize a referendum on the '/ cent sales tax. Vehicle registration fees provide another potential revenue source: $3 —Triangle Transit, $7 — Counties. Triangle Regional Transit Program was developed to provide a comprehensive study of the regional transit rail opportunities and expanded regional bus service • networks. The program financial plan saves money for the implementation of light rail and develops supportive bus service plan. Triangle Regional Transit Program has two main components: • Short-term — County Bus Plans (Orange, Durham and Wake) • Long-term — Fixed Guideway Plan (light rail, commuter rail) Fixed Guideway investments are being studied through the Alternatives Analysis process led by Triangle Transit; each individual county is working on its own bus plan component. Transit plans are financially constrained. The sales tax legislation requires that the Metropolitan Planning Organizations (MPOs), counties, and Triangle Transit approve a Regional Financial Plan. •