How much would be required to replace assets falling below thresholds to maintain conditions?
TERM estimates that $23.8 billion is needed to replace assets with conditions below the threshold levels specified by TERM to maintain conditions (compared with $27.0 billion in the 2004 C&P report). The investment estimated under the Maintain scenario in this chapter assume that these deferred needs are eliminated over a 20-year period, i.e., the average annual investment estimates include one-twentieth of this amount. Forty-one percent of the $23.8 billion, or $9.83 billion, is estimated to be needed to replace vehicles; 9 percent, or $2.3 billion, is estimated to be needed to replace stations; 29 percent, or $6.93 billion, is estimated to be needed to replace systems; 15 percent, or $3.5 billion, is estimated to be needed to replace facilities; and 5 percent, or $1.3 billion, is estimated to be needed to replace guideway. Fifty-four percent of the $23.8 billion, or $12.8 billion, is estimated to be for heavy rail assets, 33 percent, or $7.9 billion, is estimated to be for bus assets
