2007 Planning - TJCOG Partnership for Development and Infrastructure

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In the early years of the new Millennium, the Research Triangle Region is faced with unprecedented growth challenges: • The metro areas of Raleigh, Durham and their surrounding 8 counties have passed the 1.5 nullion population mark; another 1 million people are expected over the next 25 years. • Building continues apace at our major universities: UNC-Chapel Hill is plan- ning the new Carolina North, Duke is planning a new Central Campus, NC State is building Centennial Campus and NC Central is pursuing its 2002 Master Plan, including land acquisition and new and renovated buildings. • Triangle public school systems face building needs of more than $6 billion over just the next 10 years, yet are lim- ited in the revenue sources they have to repay bonds and build schools. • Triangle transportation planning organi- zations have adopted long range plans calling for $14 billion of new investment over 25 years, with $2 billion coming from new revenue sources. • RDU is rebuilding and expanding Ter- minal Cfor $570 million and has planned a third runway. • NCDOT's Statewide Transportation Plan contains $122 billion in project needs over 25 years and anticipates $57 billion in available revenues to meet • The Triangle Transit Authority's $800 million regional transit system to link the centers of our three largest. cities of lege, parks & open space and criminal justice facilities) over the next 25 years at $26 billion; current funding plans and the county's baseline bor- rowing capacity~can fund $15 billion of this amount. Raleigh, Durham and Cary with the Re- Responsibility for funding and provid- search Triangle Park, NC State and ing infrastructure is fragmented: each Duke - with a second phase to Chapel school system seeks funding independ- Hill, UNC and RDU -has not been ently, there are two regional transporta- able to secure federal funding. lion planning organizations plus a re- • The Triangle ~eenPrint Project esti- gional transit authority plus the mates that we need to double the current NCDOT plus a regional council of gov- land protection rat~at a cost of up to ermnents; despite years of effort, com- $5 billion over ~ ~~ ~ years-to munides have been unsuccessful in at- protect the bade ipf a ~~ regional ~mpts to diversify revenue sources to orlc.. greenspace nert'' provide the schools, transportation fa- cilities, arks and p greenways and other Center's bVater 2030 re- • The NC Rural - infrastructure their citizens want and a port identified about S3 bi3iion'in Trian- successful region requires. gle water, wgstewater and stormwater ~ his time for the region's leaders to system needs ~Y 2030 ,: ~ come. together to develop new, effective • Wake County ~o~ ~ estimated its strategies io address our burgeoning pnmary inf~sUructure needs {roads~wa- ; ~ ~elQpment and infrastructure chal- • ; ~ G _ ~ r , ; 7 ~ ~' t~ -~ {4 ! 3~. i _.,x3 `C The Development ~ Infrastructure Challenge • --- --- .,.,.......a ..... a--r -- '-- billion. Two years ago, the estimates were $84 billion in needs, $55 billion in revenues, and a $30 billion gap.