AUSTIN (KXAN) — On Friday, the Capital Metro Board of Directors and Austin City Council plans to announce new details regarding Project Connect, including who will direct the project.

Project Connect is a more than $7 billion transit project that will include the city’s first light rail, tunnel system and more bus routes. A city tax rate increase to help fund the project was approved by voters in November.

Leaders will address community engagement opportunities and an equity assessment tool during the virtual meeting. They will also consider three items: approval of a resolution to make the Austin Transit Partnership Local Government Corporation, the adoption of the corporation’s Articles of Incorporation and Bylaws and the appointment of its initial board of directors.

Austin Transit Partnership will manage finances, design and construction of the project with oversight from its board of directors. While a council member and a CapMetro board member will be on the board, more than 36 applications were received for community expert positions for the board.

The meeting with CapMetro and Austin City Council will take place at 1 p.m. Friday. It will be broadcast live on ATXN.TV and CapMetro.org.