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<br />FU~IDlNG SQURCES <br />he projects and programs ir. the Triangle Region's adopted Long-Range <br />Transportation Plans totaling X7.7 billion are being funded through three basic <br />sources: <br />1. Federal and state funds cover $S %. <br />2. Local revenues represent 12°0. <br />3. Private sector contributions make up the remaining 3°10. <br />r~.lthough funding proportions and mechanisms may change, a successful <br />transportation improvement program will require coordination and innovation <br />to balance costs and benefits. Each sector must take responsibility for addressing <br />its needs in a regional context; while maintaining the autonomy to do so in the <br />manner most appropriate for its situation. <br />NEW STATE FUNDING ~ <br />The NC Legislature's Transportation <br />Finance Committee has recently proposed ~ <br />f 1 h• ce ~ X80 <br />for <br />a pacitage o c zanges to en an <br />~ ~60 Tota! forTriangf~ Rrgion = 550-60 nri!lrotr/year <br />traTlSpOrtatl0n re50urG25. The Flllance <br />Committee's recommendations include ~ $4Q <br />efficiency improvements and statewide <br />funding mechanisms (local impacts of ~ $20 _ <br />'rich are depicted in the chart to the <br />oht). Increases to vehicle registration, ~ ~~ ~c~~ ~tio~o SaG~e~ ~~,~ ~ ,~ <br />driver's license, and other fees, combined ~`'a ~g'S``' ice"~° o~"gr ~ <br />with a ?-cent Euel tax increase and <br />revisions to the Highway Use Tar, can <br />be expected to raise another DSO - $60 million each year for Triangle transportation. <br />needs. Nearly half o£ this funding would go towards road maintenance, with <br />the remainder dedicated to highway construction and transit. <br />OTHER FUNDING <br />SOURCES <br />• Matching federal funds could cover <br />up to 50% of the $4 billion capital <br />cast for proposed regional transit <br />and managed lane projects. <br />• 5nlne recommendations of the <br />Transportation Finance Committee <br />(Fuel tax, vehicle registration fee, <br />etc.) could also be implemented <br />locally, if authorized and desired. <br />L <br />b <br />0 <br />E <br />.itl F,~urrs <br />14 <br />n <br />nrr.ucrs. <br />Sa• G~aY• S C•e;y. 11 C'e"~ r1O~'c'1 le `e~~8~acc \~ C'~SP <br />fie" props 5a~ Occ ? t''~`SCA"~ F .vtfx.rrwt,,,.r..,,n..t„~...,~~.,~tm..~.,. <br />• Other possible revenue sources include payroll, parking, and mileage-based <br />taxes, as well as tolls. <br />~$~ <br />$60 <br />~aa <br />$20 <br />~q <br />• Typical magnitudes of common funding mechanisms are summarized for <br />the Triangle Region in the chart to the right. <br />Sample Revenues forTriangle Region <br />