Agenda - 11-01-2022; 5-c - 2022 Orange County Transit Plan Update

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04 funding. 49 operating service in Orange County according to proportions established in the 2012 Interlocal Agreement(ILA): EQUITY identifying • 64% Chapel Hill Transit CONNECTION transit equity. • 24% GoTriangle • 12% Orange County Public Transportation. Transit inequities occur when transit The 2012 ILA also authorizes Chapel Hill Transit and OCPTto use 100% of the and transportation amount raised by the Seven-Dollar County Vehicle Registration Fee to cover BUS STOP resources • o not the increased operating cost of services provided before the original plan support _ needs took effect.This update continues to rely on this assumption. all members of the The projects in this Plan Update are preliminary. The Staff Working Group community. Historically, many policies produces an Annual Work Plan identifying specific transit projects, services, • practices related to transit " • and activities to be implemented in the upcoming year and projects and time- transportation '' _ impacted frames are subject to change. For example, if upon further study a project communitiesith is more costly than originally anticipated, or funding available from federal, populations. discriminatory state, or the amount of Tax District Revenue collected does not match the • - •" assumptions in this Plan,the project may be delayed or its scope reduced. Segregated and substandard seating Assumptionsrelegating Black riders to the back . _ This Plan Update isfiscally rest rained and relies on estimates and assumptions ' us that have been developed by GoTriangle staff using current information Segregatedand poorly ' and forecasting expertise. To calculate the cost of improvements, net new rest stops, depots, ' revenue hours have been converted to dollar costs using assumptions shelters in high minoritycommunities regarding current costs per revenue hour and inflation per year, for each Inconvenient or -•-• - bus transit service provider.The following formula determines the amount of Tax routes impacting •• and access Revenue available each year (Fiscal Years 2023- 20401 to support to education,j•• - • more transit improvements: Discriminatory employment, hiring, . promotionpractices Fund Balance/Deficit= (Total Programmed Expenditures)- (Estimated Revenues) Key Funding Assumptions INPUT ASSUMPTIONS Sales tax revenue annual compound growth rate(Orange County, FY23-40) 3.7% Inflation rate-capital costs/operating costs(based on 2020$) 2.5% Allocation of funding for bus operations according to Interlocal Agreement Chapel Hill Transit/GoTriangle/Orange County Public Transportation 64%/24%/12% Tax district revenue share of bus operating costs* Chapel Hill Transit/GoTriangle/Orange County Public Transportation 64%/24%/12% Bus operating cost per hour(2020 dollars) Chapel Hill Transit/GoTriangle/Orange County Public Transportation $118/$133.70/$68 Cost of new transit vehicle 1$560,000 Tax district revenues funding increased cost of existing service** Chapel Hill Transit/GoTriangle/Orange County Public Transportation 100%/0%/100% *Expansion bus services only **$7 vehicle registration fee proceeds only