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12 <br />replacement of 16 buses scheduled on a 12 year service life <br />for replacement in 1992. A revised vehicle life cycle of 14 <br />years was adopted. <br />The 1987 -1993 Chapel Hill Transit Short -Range Transit Plan was <br />approved in 1988 by the Town's Transportation Board. This Plan <br />provides an assessment of current service and anticipated <br />funding, capital and service needs for a five year period. <br />Also currently under review by the Town is the Transportation <br />Report to the Town's Comprehensive Plan. This report discusses <br />possible service and capital improvements for a 15 to 20 year <br />period. The recommendations included in the SRTP have been <br />incorporated into the Town's Capital Improvement Program and <br />Comprehensive Plan. The 1987 -1993 SRTP was updated in 1988 <br />to reflect programmatic changes. <br />Annual updates to the approved SRTP will be prepared and will <br />reflect changes in those capital and operating projections <br />previously anticipated, including availability of federal and <br />State financial assistance. <br />