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D R A F T than it was when it previously failed. The state has changed their prioritizationofprojects for transportation money 165 with Strategic Transportation investments. It is a new strategic approach gearedto economic development, not what 166 the LRT would do. State money is not likely. If Federalmoney is also not likely, the projectisprobably a no-go. If 167 they are both not likely, which I think is going to be the case, thenit is definitely a no-go. We are going to throw this 168 money out and my perspective,coming from the senior population;we will not see a single rider until the whole 169 system is built out. 170 171 Bret Martin: There is a whole lot of upfront cost that goes into project development and planning beforeyou even 172 know if the project is going to get funded,so if it doesn’t get funded that was a waste and that is true.173 174 Jeff Charles: I want to see alight rail here eventually but I am wondering whether the timetable that has been 175 established,that front loads the $30million, if that could be made20 or 30 percent longer to free up additional funds 176 for what we really need now, which is this stuff (bus routes).177 178 Bret Martin: I am working with what I have got.179 180 Abigaile Pittman: We are a tied to this implementation agreement that was agreed to by all the parties. We have to 181 implement what is under the agreement. 182 183 Jeff Charles: We are being asked to approve a resolution.Does the plan you presented provide an equitable use of 184 the half-centsales tax mentioned two paragraphs above? And the seven-dollarregistration tax?185 186 Bret Martin: The OC BRIPis the financial plan per the law.187 188 Alex Castro: Is itstipulated that it has to be distributed according to the formula and TTA cannot apply them for 189 something else? 190 191 Jeff Charles: Theyhave already planned to fund the $6 million dollars over x number of years. One hundred percent 192 of excess funds accumulated should be passed through to the county for the bus system or other uses.193 194 Bret Martin: The Orange County Bus and Rail Investment Plan is the overarchingpolicy guide for all this and this bus 195 expansion program is specific to OPT implementationdetails. It is true that the assumption was changed that the 196 revenue projectionswouldnot grow by 3.6% per year. It was revised upward to 4.4% per year, whichcreates 197 additional revenue beyond what was originally projected. That difference creates a total of $60 million extrafunds.198 On the other side the expenditures have changed. The plan originally called for the capital purchases of buses, 199 amenities, park and rides, etc. and for thereto be an 80% federal share and 10% state share. That was a dangerous 200 assumption. That figure has been revised to 30% federal and 5% state. The idea is that the additional revenue 201 would be soaked up by the fact that more local expenditures would be used to pay for the capital purchases. I 202 calculated the capital purchases will only cost (with the 30% federal 5% state shares) about $18 million dollars. 203 There is $42 million dollars unaccounted for by TTA. We need to know where the rest of the money will be spent.204 205 Jeff Charles: Don’t we need that information to talk about this resolution.206 207 Abigail Pittman: This is the initialyears with the initialmoney.208 209 Paul Guthrie: Why do you need this resolution now?210 211 Bret Martin: The BOCC will see this in March and will be asked to approve the program in April or early Mayand 212 they would like a recommendation.213 214 Paul Guthrie: I have many of the same questions about the resolution. On one hand, I think we could come to 215 agreement on the conceptof these routes. Whether that is an equitable distribution of the proceeds to TTA or not, I 216 am not sure we have enough information to know that and yet this resolution basically slams the door on that 217 discussion.218 219 6 ReturntoAgenda