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Local Funding Options for Streetcar Projects David M. Taylor, CNU Senior Vice President National Director Transit-oriented Design.

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Presentation on theme: "Local Funding Options for Streetcar Projects David M. Taylor, CNU Senior Vice President National Director Transit-oriented Design."— Presentation transcript:

1 Local Funding Options for Streetcar Projects David M. Taylor, CNU Senior Vice President National Director Transit-oriented Design

2 The Street Smart Workshop Series Local Streetcar Funding Where do you go for funding? How fast do you want to move? Common funding characteristics They are all different They are all complex Look under every financial rock Use public private partnerships Essential to local funding Private funds for capital/O&M costs

3 The Street Smart Workshop Series Local Streetcar Funding Used to avoid an unpredictable federal process Can shorten project development time Buy America provisions are avoided (until the new American car is available) NEPA requirements are minimized Local system ownership is emphasized Community pride is enhanced

4 The Street Smart Workshop Series Local Streetcar Funding Local option sales or gas taxes General obligation bonds Parking revenues meters, garages, fines) Surcharge on auto registrations Rental car tax Local transit tax Transit agency funding (In-lieu)

5 The Street Smart Workshop Series Local Streetcar Funding Local/Business Improvement Districts Special Assessment Districts Fares, advertising and sponsorships Already-programmed street improvements/ reconstruction projects Hotel/motet/tourist tax

6 The Street Smart Workshop Series Local Streetcar Funding Tax Increment Financing Developer agreements (Local or state environmental acts) In-lieu parking contribution Joint development agreements Public Private Partnerships

7 The Street Smart Workshop Series Fund Sources - Portland Total $54.6 Million

8 The Street Smart Workshop Series Fund Sources – Tampa $60 M budget Project-specific state funds CMAQ Flexible federal funds Section 5303 FTA funds Gas tax City Impact Fees Endowments and sponsorships

9 The Street Smart Workshop Series System Sponsorship - $ 1,000,000 Name - Cars, Stations, Map Special Events - 4 Times/Year Streetcar Sponsorship - $ 250,000 Name - Exterior and Interior of Car, Map Special Events - 2 Times/Year Station Sponsorship - $ 100,000 Name - Stations, Map Special Events - 1 Time/Year Streetcar Endowment Funding Fund Sources – Tampa

10 The Street Smart Workshop Series Fund Sources - Yonkers

11 The Street Smart Workshop Series PPPs Are Created When Public Agencies Partner With Private Entities: Through a Business Arrangement To Pursue Commonly Shared Goals Share Risks and Rewards And Balance the Strengths of Both Public Private Partnerships

12 The Street Smart Workshop Series Common Benefits Process Driven Quicker Delivery Access to Larger Fund Pool Cost Savings Risk Sharing Risk Management Reward Sharing Based on Goals Public Private Partnerships OPERATE IMPLEMENTPROCUREPLAN FEASIBILITY GENESIS

13 The Street Smart Workshop Series 501 3c non-profit corporation, a quasi- independent implementation entity Governed by a board of directors Generally a private-sector board but may include city officials Selects designers/contractors with city approval Contracts with transit property for O&M Non-profit examples Public Private Partnerships

14 The Street Smart Workshop Series Public Private Partnerships PPP involvement can span planning, design and construction phases PPP can augment state, local and federal funds PPP funds may be used to supplement operating funds PPPs can include the non-profit approach PPP development projects follow the tracks

15 Local Funding Options for Streetcar Projects David M. Taylor, CNU Senior Vice President National Director Transit-oriented Design


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