DRAFT Comprehensive Transportation Plan Update: February 23, 2018 version

ACTION PLAN

INTRODUCTION

The success of the Town of Morrisville Comprehensive Transportation Plan Update will hinge on the effective collaboration of local,

regional and State officials to implement its projects and policies in a meaningful way. The recommendations in the plan build upon many

historic and ongoing efforts by the Town to improve the transportation network through facility improvements, close coordination with

agency partners, and Town policies. Completion of this plan represents an important step toward implementing multimodal improvements

that affect travel safety, mobility, development patterns, and the aesthetics of the Town of Morrisville. This chapter lays out a simple set of

recommendations to help local staff continue to focus their efforts and seek strategic opportunities to expedite the implementation of this

plan.

Responsible Agencies To successfully implement this plan, responsible agencies have been identified that can influence and authorize recommendations. Some of

the recommended improvements will be implemented at the local level through the development review process. Major infrastructure

improvements most likely will be a product of State and federal funding; however, transportation improvement funds are limited and

competition for them is great. The majority of responsibility for implementing these recommendations will be a coordinated effort between

NCDOT, CAMPO, the Town of Morrisville, and private developers.

Implementation The core of the implementation strategy for this document is contained within this chapter, which lays out a concrete set of steps to

implement the vision of the Town of Morrisville Comprehensive Transportation Plan Update . Through well-guided transportation and

land use policies as well as leveraging strategic partnerships, each set of recommendations becomes a set of achievable goals with a basis in

realistic expectations.

FUNDING OPPORTUNITIES

The funding to implement the recommendations in the Town of Morrisville Comprehensive Transportation Plan Update will likely come

from a combination of local, State, and federal programs, as well as through the receipt of development contributions. The Town of

Morrisville has taken the initiative to explore future funding options and their viability for the area through the Blue Ribbon Commission on

Transportation Funding. The findings of this group and their implications for the Town are documented within this chapter.

The construction of a comprehensive transportation network can occur through incremental adoption of local policies and initiatives

supplemented by State and federal programs and assistance from the private sector. It will be important for the Town of Morrisville, in

collaboration with Wake County and CAMPO, to continue pursuing funding resources to implement the recommendations of this plan. The

Town of Morrisville has long understood this reality. Through the creation of the Blue Ribbon Commission on Transportation Funding , the

Town prepared a report exploring this issue. The report, finalized in December 2014, provided a review of potential transportation financing

strategies and funding sources drawn from examples both locally and in other peer communities. The report then assessed the viability of

these financing strategies and funding sources for use within the Town of Morrisville.

The financing strategies and funding sources considered as a part of this study are identified and defined in Tables 5-1 and 5-2 .

Table 5-1: Potential Transportation Financing Strategies

FINANCING STRATEGY

DEFINITION

A form of financing that generally has a lower interest rate than other municipal debt, is generally the only form of financing that requires a voter referendum, and is secured by the Town’s unlimited taxing power and full faith and credit. A form of financing that does not require voter approval (via referendum), and is secured by non-tax revenue or property. Secured by and paid for by user revenues, such as user fees or tolls on roadways. Secured by additional property tax revenue produced by private development. Also known as Tax Increment Financing.

General Obligation Bonds

Installment-Purchase Debt

Revenue Bonds

Tax Increment Debt

Special Assessment Debt Financing secured by and paid for from assessments levied against private property. Source: Town of Morrisville Blue Ribbon Commission on Transportation Funding Report, page i, December 2014.

5-1 | P A G E D R A F T | 0 2 / 2 3 / 2 0 1 8