Orange County NC Website
Browse       Search
22 <br /> GoTriangle is expected to propose an amended financial model due to new costs <br /> associated with the Durham-Orange Light Rail Project. When the final proposed financial <br /> model is completed, Board action at this time would allow the County Manager to <br /> immediately engage the County's financial advisor to update the analysis completed in <br /> 2017 and offer any new observations associated with the new financial plan. The cost of <br /> the analysis would be capped at $30,000. <br /> In order for the light rail project to proceed, a new Interlocal Cost Sharing Agreement and <br /> an Amended Orange County Transit Plan will need to be approved by the Board of Orange <br /> County Commissioners. GoTriangle is requesting these approvals during the month of <br /> March to meet a State imposed April 30 deadline. <br /> PUBLIC COMMENT: <br /> Joan Guilky said there have been major changes in the plan in the last year, <br /> significantly increasing costs. She said the review last year from Davenport included <br /> financing costs that had not been included in the GoTriangle reports. She said it is <br /> essential to authorize Davenport to complete a new analysis, so that all parties can work <br /> from the same facts and figures. <br /> Patricia Clayton read the following comments: <br /> I am Pat Clayton I am speaking on behalf of the Northern Orange National Association for the <br /> Advancement of Colored People (NAACP). <br /> We are gravely concerned about the escalating costs of light rail project, and large, last minute <br /> issues and risks surrounding the project. That is why we are asking you to retain Independent <br /> Financial advisors, Davenport and Company to evaluate the new project plan when it comes <br /> out. <br /> At a minimum, we would like to hear Davenport's analysis of the project's costs, debt and <br /> contingency, and risks to our schools and essential services. We are especially interested in <br /> the project reserves, and how you will protect Orange County when the light rail project funds <br /> are gone. <br /> We also would like to know more about operating and maintenance costs, and how much of our <br /> transit taxes will be tied up to keep the trains running. That will help all of us understand how <br /> much — if any money will be left over for buses, demand services and other services that are <br /> needed in Northern Orange. <br /> Once we've heard from Davenport, our next question to you will be when can we expect you to <br /> add services to Northern Orange. We don't mind paying transit taxes but we expect to see <br /> services that work. <br /> Please retain Davenport so we can all be fully informed about the costs and risks of the light rail <br /> project, and its impact on providing transit services to Northern Orange County <br /> Bonnie Hauser read the following comments: <br /> I am Bonnie Hauser and I am speaking on behalf of Schley Grange and Orange County Voice. <br /> We have been following the light rail project for years and are also concerned about the <br /> escalating costs, and significant last minute changes. Your board will not have much time to <br /> consider the implications of these changes on the county's finances. <br />