Presentation on theme: "Presentation Title Here Additional Line if Needed Date Here Transportation Funding Ohio Transportation Planning Conference July 16, 2014 Department of."— Presentation transcript:
Presentation Title Here Additional Line if Needed Date Here Transportation Funding Ohio Transportation Planning Conference July 16, 2014 Department of Transportation & Engineering
Cincinnati’s Department of Transportation and Engineering’s mission is to provide a safe and balanced transportation system that supports neighborhood livability and economic vitality.
Clifton Madison Cincinnati’s Transportation System Over $4 Billion in Total Replacement Value
Cincinnati’s Transportation System 940 miles of streets and roads ($3B) 65 City bridges (1.4M SF of deck area) ($350M) 26 County bridges (700K SF of deck area) ($180M) 1547 retaining walls (over 50 miles in total length) ($225M) 1730 miles of public sidewalks ($250M) 756 Traffic Signals ($45M) Clifton Madison
Traditional Transportation Funding Sources
Federal & State Transportation Grants Shrinking Resources Surface Transportation Program (STP) Congestion Mitigation/Air Quality (CMAQ) Community Development Block Grants (CDBG) Transportation Review Advisory Committee (TRAC) Ohio Public Works Commission (OPWC) Municipal Road Fund (MRF) County Transportation Improvement Districts (TID) County Engineers’ Association of Ohio (CEAO) Economic Development Administration (EDA) Grants JobsOhio 629 Grants
Federal & State Transportation Loans Shrinking Resources Transportation Infrastructure Finance & Innovation Act (TIFIA) State Infrastructure Bank (SIB) Ohio Public Works Commission (OPWC) Loans
Non-traditional Transportation Funding Sources
Local Funding Shrinking Resources Tax Increment Financing (TIF) Availability Payments Special Assessment Districts New Community Authority – Development Charges and Development Bonds Public/Private Partnerships (3P)
Federal & State Transportation Grants & Loans Very Competitive Funding Opportunities Transportation Investment Generating Economic Recovery (TIGER – Multiple Rounds) Transportation Infrastructure Finance & Innovation Act (TIFIA – Ongoing) Grant Anticipation Revenue Vehicles (GARVEE Bonds) Build America Bonds (Financing cost savings – Program expired)
So how does that help?
Leverage Make a little money go further. Lay the groundwork to be competitive for grants when they come available. Aggressively pursue opportunities, but make certain your project qualifies well. Find other money to match federal money.
Partnerships It’s good to have friends. Seek out cost sharing opportunities both within and outside your organization. Look across the lines in your department, your municipality, and your neighbors. Ask other interested and associated parties to apply for you (within the bounds of the law). Make your partners look good.
Western Hills Viaduct Replacement
Cost = $240 Million
Multiple Sources Several small sums can add up. You may never receive enough to fully fund a big project. Find as many complimentary grants and loans as possible and apply; just make sure your project is competitive and your time frames align. Be as patient as your project and the grant agencies can be. Don’t chase funds that are more trouble than they’re worth.
Multiple funding sources. Multiple Sources $ 12.0MSTP (OKI) $ 16.6MLocal $ 4.0M TIF $ 0.1MOhio DOD $ 32.7M Total
Multiple Approaches Different approaches can add up too. Sometimes it takes more than one approach and a combination of grants, loans, and local money. Sometimes it takes a different delivery approach. Faster can save money by delivering the project sooner, or financing the project less expensively.
Martin Luther King, Jr. Interchange Economic Development in Uptown Uptown is home to: Over 60,000 jobs (2nd to the CBD) Over 70,000 residents, Over 60,000 students at UC and Cincinnati State 7 major hospitals with 5 emergency room facilities and the region’s only Level 1 Trauma Center, and Cincinnati Zoo and Botanical Gardens (1.2 million visitors annually)
Martin Luther King, Jr. Interchange Construct a new full interchange Design/Build Delivery Multiple Sources $ 63.8MTRAC $ 21.0MLocal $ 6.4MOther – State $ 1.7M Other – MPO $ 25.0M SIB Loan* $117.9M Total