Local Funding Options for Streetcar Projects

David M. Taylor, CNU Senior Vice PresidentNational Director Transit-oriented Design

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

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

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)

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

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

The Street Smart Workshop Series

Fund Sources - Portland

Total $54.6 Million

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

The Street Smart Workshop Series

PROJECT PHASES POTENTIAL FUND SOURCE

Planning EIS/Design Capital/Construction

FTA/Small Starts

DOT (FLEX Funds)

NYSERDA

NYPA

UPWP Funds

NYSDOS

TIF

Parking Authority

GO Bonds

Optional Sales Tax

Private/Non-Profit

Business Improvement District

Special Assessment

Foundations

Fund Sources - Yonkers

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

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 FEASIBILITYGENESIS

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

http://www.portlandstreetcar.org/ http://www.tecolinestreetcar.org/ http://www.atlantastreetcar.org/

Public Private Partnerships

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”

Local Funding Options for Streetcar Projects

David M. Taylor, CNU Senior Vice PresidentNational Director Transit-oriented Design