Streetcar Working Group November 13, 2006 Streetcar Economic Development Impact and Projected Ridership Ken Danter The Danter Company Streetcar Working Group November 13, 2006

Economic Impact Considerations Residential/Commercial/Business Development Property Taxes New Jobs to Downtown and Resulting City Income Taxes Convention and Tourism and Resulting Expenditures

ESTIMATED STREETCAR IMPACT STREETCAR CONSTRUCTION BEGINS PORTLAND TREND ESTIMATED STREETCAR IMPACT STREETCAR OPENS STREETCAR CONSTRUCTION BEGINS COLUMBUS TREND ESTIMATED PORTLAND TREND WITH NO STREETCAR DEVELOPMENT

Residential/Commercial/Business Development By Type Condominium/Apartment – 1,500 units Ground-floor Commercial/Business – 120,000 to 150,000 square feet Hotel/Lodging – 300 additional hotel rooms Brings additional Bed Tax Revenues City’s Emergency Human Services Fund Columbus General Fund Housing Trust Fund Cultural Development Promote City of Columbus

Candidates for Development Potential Vacant parcels Surface parking Underused parcels Historic properties in fair to poor condition that might be eligible for historic tax credits

Key Characteristics of Proposed Lines Within 400 feet of line (approximately 1 city block) Line Blue Green West Green East Blue + Red Blue + Red + Green Vacant, Surface Parking and Underused Parcels 24.78 acres 12.26 acres 24.17 acres 36.44 acres 72.87 acres Historic Properties Square Feet 679,317 sq. ft. 0 sq. ft. 541,241 sq. ft. 736,655 sq. ft. 1,277,896 sq. ft.

Projected Residential/Commercial/ Business Development Impact LINE LOW ESTIMATE* HIGH ESTIMATE* Blue $211 million $238 million Blue + Green East $394 million $448 million Blue + Green West $308 million $346 million Blue + Green $491 million $556 million Blue + Red $259 million $297 million Blue + Green + Red $540 million $616 million *Adjusted to 2008 dollars (4.0% annual increase – Source: CDDC)

Property Tax Estimates – (5-year Cumulative) (75% Abatement Applied to Downtown Properties) LINE LOW ESTIMATE* HIGH ESTIMATE* Blue $2.5 million $2.9 million Blue + Green East $4.9 million $5.6 million Blue + Green West $3.7 million $4.2 million Blue + Green $6.0 million $6.9 million Blue + Red $5.2 million Blue + Green + Red $8.6 million $9.9 million *Adjusted to 2008 dollars (4.0% annual increase – Source: CDDC)

Additional Jobs to Downtown Generated by Streetcars Over 3,000 jobs Downtown from streetcars Types of jobs projected: Construction Residential management/maintenance Commercial/business services Streetcar drivers/maintenance/support Average income: $42,200 Cumulative (5-year) increase in city income tax: $2.7 million* *Adjusted to 2008 dollars (4.0% annual increase – Source: CDDC)

Convention and Tourism Increase and Resulting Expenditures 90,000 additional visitors 50,000 overnight stays 40,000 day trips $52.8 million* cumulative expenditures over 5 years *Adjusted to 2008 dollars (4.0% annual increase – Source: CDDC)

Total Economic Development 5 years LINE LOW ESTIMATE* HIGH ESTIMATE* Blue $216 million $248 million Blue + Green East $410 million $464 million Blue + Green West $319 million $356 million Blue + Green $508 million $578 million Blue + Red $270 million $308 million Blue + Green + Red $562 million $637 million *All totals adjusted to 2008 dollars (4.0% annual increase – Source: CDDC) Includes market value of development of condominiums, rental units, commercial/businesses and hotels; cumulative property tax (not considering abatements); cumulative net gain from city income tax (over 800 new employees); cumulative increase in convention/tourism expenditures

Ridership Considerations Population Employment Hotel rooms Student enrollment Destinations Case studies

Ridership Case Study Factors Within 800 Feet of Line Market Resident Population Employees Hotel Rooms Average Daily Ridership (Stabilized) Memphis 2,884 19,827 2,627 2,514 Portland 14,731 49,931 2,936 6,900 Columbus Blue + Green 5,442 64,833 3,105 5,000 – 5,600* Columbus Blue + Green + Red 10,886 67,002 6,400 – 7,200* * At stabilization (5 years)

Ridership Estimates Average Daily Ridership Estimates Blue/Green Stabilized ridership (Year 5) – 5,000 to 5,600 First 4 years of operation - 3,000 to 4,500 Red Line Extension (Buttles to 11th Avenue) Stabilized ridership (Year 5) – 1,400 to 1,600 First 4 years of operation - 840 to 1,280