Title
Executive Board Working Group to Inform Commuter Rail Cost Share and Financing Negotiations
Bret Martin and Chris Lukasina, MPO Staff
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In early 2020, CAMPO entered into a Memorandum of Understanding in Support of Continued Development of the Greater Triangle Commuter Rail Project with GoTriangle, North Carolina Railroad Company (NCRR), North Carolina Department of Transportation (NCDOT), Durham-Chapel Hill-Carrboro MPO (DCHC MPO), Wake County, Durham County, and Johnston County that details a number of commuter rail early project development activities to be executed before a project concept can ultimately be deemed feasible and can be accepted and advanced for further development and expenditure. One such activity is facilitating cost-sharing negotiations and securing a local government commitment of funds for 100% of the non-federal share of estimated costs for project design, management, financing, construction, and operation and maintenance in a state of good repair. GoTriangle, the project sponsor for commuter rail early project development activities, began discussions on this topic earlier this year with staff from both MPOs and Durham and Wake Counties, as well as some GoTriangle trustees and county commissioners from both counties.
The final institutionalization of any cost-share agreement that determines the amount of Wake Transit tax revenues that will be budgeted, programmed, or otherwise committed to a commuter rail project, as well as any special financing arrangements, will require action by the CAMPO Executive Board and the GoTriangle Board of Trustees. Given that these are the two (2) parties responsible for making the referenced financial decisions, and the GoTriangle Board of Trustees also governs the GoTriangle organization as the project sponsor for commuter rail early project development activities, it is important for CAMPO's Executive Board, or a delegate group of board representatives, to contribute to the evolution and overa...
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