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10 <br /> RENAISSANCE <br /> PLANNING <br /> Accessibility analyses were used to assess the potential impacts of proposed projects by location, <br /> by job type, and by a variety of sociodemographic characteristics, as measured in improvements <br /> to transit frequency, improvements to weekend and evening service, and transfer opportunity <br /> improvements. <br /> The proposed service improvements reflect near-term investments that can be funded with transit <br /> tax revenues, projected by GoTriangle's financial model. Some outside funding will be required <br /> to support the capital improvements (except for vehicles needed to support improved service, <br /> which are included in the implementation plan). Costs for each transit improvement in the plan <br /> have been developed based on coordination with the three transit providers and building off <br /> previously estimated costs for improvements in each agency's Short Range Transit Plan. We <br /> have calculated revenue hours of service for each proposed improvement (Table 1) and <br /> converted revenue hours to costs in dollars based on the assumptions in Table 2. For <br /> improvements requiring additional peak vehicles, it is assumed that new vehicles for GoTriangle <br /> or Chapel Hill Transit cost approximately $560,000 and inflate in future years at a rate of 3.1%. <br /> Error! Reference source not found. shows the estimated cost for each improvement project <br /> included in the plan. <br /> Constants Value <br /> Operating Cost Annual Inflation Factor 2.50% <br /> Current cost of OPT per hour $68.00 <br /> Current cost of GoT per hour $133.70 <br /> Current cost of CHT per hour $118.00 <br /> Cost of vehicle $560,000 <br /> Table 2 Assumptions <br /> Conceptual Transit Vision Map <br /> A conceptual transit vision map was created to illustrate aspirational, un-programmed, longer- <br /> term transit capital investments (Figure 3). These are projects that have been included in regional <br /> plans, such as the 2050 Metropolitan Transportation Plan (MTP) and other local and regional <br /> transit plans. The represented corridors are illustrative and should be used to help prioritize future <br /> transit investments. The final transit plan will include plan-level estimates for premium transit <br /> service in various conceptual corridors. <br /> 6 <br />