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• G. NC State Government Funding <br /> The plan includes a 25%capital cost contribution by the NC Department of Transportation <br /> (NCDOT)for both light rail and commuter rail projects in Durham County. This level of <br /> participation was established by the State in its participation in the Charlotte Blue Line <br /> light rail project in 2003. The plan assumes that NCDOT also pays for 10%of bus capital <br /> costs (replacement buses, new buses, park and ride lots, etc)consistent with its current <br /> practices. Based on these precedents, NCDOT assumed contributions to the plan total <br /> $465 million in YOE dollars from 2012 through 2035. <br /> H. Federal Government Funding <br /> The plan projects that the US Government will contribute 50%of the capital cost for both <br /> the light rail and commuter rail projects in Durham County. This was the federal level of <br /> participation in the Charlotte Blue Line light rail project and is consistent with federal <br /> funding outcomes for most rail projects in the Federal Transit Administration's New Starts <br /> program in recent years. <br /> The plan assumes that the Federal Government also pays for 80%of bus capital costs, <br /> consistent with its current practices,and continues to provide operating appropriations <br /> consistent with present FTA operating grant formulas. Federal Government contributions <br /> • to the plan are projected to be$926 million in YOE dollars from 2012 through 2035. <br /> I. Borrowing <br /> The plan anticipates that proceeds from borrowing are$155 million over the life of the <br /> plan. This borrowing would allow for the large capital expenditures necessary during a <br /> small number of the years in the plan. Any borrowing would be from capital markets <br /> through government bonds,would require approval by the NC Local Government <br /> Commission, and would have to meet debt-to-revenue coverage ratios required by the <br /> capital markets for bond issuance. <br /> VI. DURHAM FINANCIAL PLAN DATA <br /> The following is a list of the total spending for each technology and category identified in <br /> the Durham County Bus and Rail Investment Plan. <br /> • Rail Capital:$1,669 million <br /> • Rail Ops: $283 million <br /> • Bus Capital: $47 million <br /> • Bus Ops: $151 million <br /> • Debt: $136 million <br /> • <br /> 5/26/2011-Page 114 <br />