Resolution 4240 - Laserfiche WebLink

obviates other parties' responsibility to help defray part of the infrastructure improvement cost. The funding contribution is based upon the City of Everett being charged with the cost to improve the existing Bond St Station and a pro- rated allocation of vehicle and maintenance/layover facility costs. (Multi-Modal station track cost is in the Multi-Modal project.) Track infrastructure cost is not identified for funding. It is the City's belief that other organizations need to form a partnership with the Regional Transit Authority to help pay for the track related improvements. The City expects that no investments will be made in commuter rail until financial partnerships are formed to invest in track infrastructure improvements necessary to accommodate freight mobility and Intercity Rail train movement growth. If financial partnerships are not secured,the City anticipates that an additional project(s) could then be developed based on the prioritized list contained in Exhibit One. m) Funding for commuter rail service is predicated upon completion of the requisite commuter rail infrastructure cost. The City believes that peak hour oriented, weekday service will be the most productive service in a phase one program. Funding for this service represents the anticipated pro-rated share of service cost applicable to the City. Based upon the investment priorities, service implementation is anticipated to occur several years after initiation of a revised phase one plan. The funding allocation should be utilized to develop the appropriate service phasing schedule. n) Funding for Mitigation and Betterment is based approximately on the Regional Transit Authority costing methodology of 5 percent of stationary capital improvements with the realization that project specific environmental studies would identify the actual mitigation and betterments required. o) Funding for the 112th St/I-5 Freeway Flyer Stop and Park and Ride lot could occur if any of the conditions listed in item (5) above is realized. This could either build upon the existence of Direct HOV Access ramps off 112th St or if the project cannot proceed,the flyer stop and park and ride can be developed with access limited to vehicles already on the freeway. Funding only represents the cost to develop the flyer stop and park and ride. Direct HOV access is identified in (e) above. p) Funding for High Capacity Transit Right of Way could occur if any of the conditions listed in item (5) above is realized. If a phase one plan is successful, potential subsequent phases are anticipated to include development of a separate right of way for high capacity transit operations. Operation within Everett is also anticipated. Funding for this element would help initiate the planning program to select an alignment within the City and to begin its right of way reservation. q) Funding of the I-5 HOV Lane to extend the two potential inside HOV lanes (identified in(c) above) from 41st St to SR 2 reflects the construction of new 8