Durham Orange Joint Staff Working Group Meeting Agenda October 10, :30 pm 4:00 pm Durham City Hall, Transportation 4B

Transcription

1 Durham Orange Joint Staff Working Group Meeting Agenda October 10, :30 pm 4:00 pm Durham City Hall, Transportation 4B 1. Call to Order/Roll Call 2. Election Chair Position 3. Open Issues a. FY2019 Calendar Mo b. Policy Committee and Finance Committee Updates Mindy, Aaron c. Durham Orange Triangle Tax Districts Presentation Praveen 4. New Business 5. Adjournment

2 3a Staff Working Group Calendar FY 2019 Tasks Responsible FY 2019 Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun FY2020 Workplan Project Requests issued, using County Transit Plan Model GoTriangle 11/7 TBD All Carryforward balances sent to SWG Admin + SWG Members GoTriangle 9/1 UPDATES? Project Request Updates SWG TBD Draft Workplan SWG TBD Revised Draft Workplan sent to SWG (with Carryforward balances) SWG Admin TBD SWG (Review of Draft Workplan + Other Items) SWG TBD Draft Workplan Finalized TBD Public Comment 21 Days 6/7 TBD Board Presentations 6/4 and 6/5 TBD May SWG (Approval of Draft Workplan + Quarterly Reporting Adoption GoTriangle Budget 6/27 TBD Meetings and Boards SWG 2nd Wednesday of Month, 1pm at Durham City Hall 6/13 7/18 8/8 9/12 10/10* 11/14 12/12 1/9 2/13 3/13 4/10 5/8 6/12 MPO (Tech) MPO (Board) 6/13 TBD TBD TBD FY19 Durham County Commissioners Work Plan** & Quarterly Reporting 6/4 TBD TBD Orange County Commissioners Work Plan** & Quarterly Reporting N/A TBD GoTriangle 6/27 TBD * Different Time due to DURCHO meeting **County Boards only see plans, do not adopt Invoicing and Reporting Q1 invoices due at GoTriangle 31 Oct Q1 reporting 30 Nov Q1 Payments to Transit Partners 15 Dec Q2 invoices due at GoTriangle 31 Jan Q2 reporting 28 Feb Q2 Payments to Transit Partners 15 Mar Q3 invoices due 30 Apr Q3 reporting due at GoTriangle 31 May Q3 Payments to Transit Partners 15 Jun Q4 invoices due at GoTriangle 31 Jul Q4 reporting 30 Aug Q3 Payments to Transit Partners 15 Sep by Mo Devlin, SWG Admin September

3 3c Durham - Orange Triangle Tax District Funding Presentation 3

4 Transit Plan - Funding Hierarchy Durham and Orange Tax District Revenue Half-Cent Sales and Use Tax 5% Vehicle Rental Tax $3 Increase to Regional Vehicle Registration Fee $7 County Vehicle Registration Fee 1. Transit Services - Operating Expenses: Bus Operations, Administration and Facilities O&M 2. Transit Services - Capital Expenditures: Capital Projects, Vehicle Purchases, Bus Facilities, Park and Ride, Regional Capital projects 3. Durham - Orange Light Rail Transit Project (D-O LRT) TIFIA Loan Financing Instruments FTA New Starts State Funding 4

5 Transit Plan -Operating Expenses Transit services operating tax revenues. This practice minimizes the funding risk so transit services operations continue even in the event of a revenue shortfall. costs are identified in the 2017 Transit Plan. Partner Agencies budget their annual transit services operating expenses based on actual anticipated needs without exceeding their Transit Plan allocation + available carryover. Currently, cumulative unspent 2017 Transit Plan operating funds are carried over indefinitely for use by the agency in which they were allocated. 5

6 Transit Plan - Capital Expenditures Capital expenditures (e.g., vehicle purchases, facilities) are the second to minimizes the funding risk so transit services capital spending continues even in the event of a revenue shortfall. capital costs are identified in the 2017 Transit Plan. Partner Agencies budget their annual transit services capital expenditures based on actual anticipated needs without exceeding their Transit Plan allocation + available carryover. Currently, cumulative unspent 2017 Transit Plan capital funds are carried over indefinitely for use by the agency in which they were allocated. 6

7 Transit Plan D-O LRT D-O LRT is the last piece to be funded after transit services operating and capital costs. D-O LRT cost allocations in the 2017 Transit Plan are based on the Cost committed funds, a 30% design milestone and borrowing against future revenue The Current 50% design milestone was completed in FY18 and progress towards 90% design is ongoing. D-O LRT currently bears the primary risk of revenue shortfalls, changes in programmed expenses and borrowing. Offsetting the risk is the potential benefit of revenue surpluses. 7

8 D-O LRT Capital Funding Sources Capital Funding Source Total Capital Funding Share Federal* 50% State 25% 10% 7.7% Local / Other 25% 40% 42.3% Transit Plan - Committed Funds $ 887.9M YOE Private/Other Sources $ 102.5M YOE Additional Revenues Needed $ 57.6M YOE Total 100.0% * Federal funding capped at 50% match of $2.476B in YOE 8

9 Update on D-O LRT timeline 30% of nonfederal funding required 50% of non-federal sign federal full funding grant agreement begin State funding commitment Early August, 2018 A plan for the $57.6 million in funds shortfall from the state must be in place for a required FTA submittal. October End (Tentative), 2018 FTA Risk Assessment Workshop January, 2018 Commitments for the $57.6 million must be in place. Commitments for the $102.5 million planned from other sources including private funding and non-monetary contributions. FTA Risk Assessment results February 2019 All funding commitments must be in place, so we can prepare our application for the FFGA. September 2019 Target date to execute an FFGA 9

10 Transit Plans 10