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1. Overview
2. Background
3. Passenger Rail in South Florida
4. SFRTA5. South Florida East Coast Corridor Study & Draft
Locally Preferred Alternative (LPA)
6. FDOT & FEC 2011 Proposal
7. SFRTAsFast Start Plan
8. Comparison of FDOT &FEC 2011 Proposal andSFRTA Fast Start Plan
9. Summary
10/31/2011 2
PRESENTATION OVERVIEW
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In August of 2011, FDOT made public their plans for apartnership with FEC to bring initial rail service tothe FEC corridor and take over Tri-Rail operations
SFRTA has prepared this prospectus for SFRTAs Fast
Start Plan, which provides a superior and more costeffective approach to the reintroduction of PassengerRail Service on the FEC corridor.
10/31/2011 3
1. OVERVIEW
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Reintroduction of Passenger Rail Service tothe Florida East Coast (FEC) rail corridor has
been discussed for decades
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2. BACKGROUND
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In the 80s, FDOT had consideredoperating the Tri-Rail on the FECcorridor, but FEC was not a willingpartner at that time
In 2002, S FRTA initiated pla nningefforts to expand service to theFEC corridor
At FECs request, FDOT p artnered
with S FRTA to co mprehensivelystudy the FEC corridor from Miamito Jupiter
10/31/2011 5
FLORIDA EAST COAST RAIL
CORRIDOR (FEC)
Tri-Rail
FECCorridor
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10/31/2011 6
3. PASSENGER RAIL IN SOUTH FLORIDA
Founded in 1989, Tri Rail is the nations first New Startcommuter railroad.
Twelve other cities in the U.S. have followed Tri Rails lead
with their own New Start commuter railroads
Today, Tri Ra il
Averages 14,000 daily boardings
Operates 50 weekday and 16 weekend trains
Serves 18 stations over a 71 mile route
Provides 85+% on-time performance
Among the New Starts, only Los Angeles serves morepassengers
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10/31/2011 7
3. PASSENGER RAIL IN SOUTH FLORIDA
Among the 22 active US commuter railroads Tri-Railis an outstanding performer
High Fleet Productivity (2nd in nation) Efficient use of a small fleet
High Route Productivity (7 th in nation) Few unproductive route miles
High Station Productivity (7th in nation
) Relatively few low ridership stations
High Ridership (10th in nation) Among the more popular commuter railroads
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10/31/2011 8
4. SFRTA
A COMMUTER RAIL INNOVATOR
SFRTA manages Tri-Rail service operated by a network ofcompetitively bid private contractors specializing in:
Railroad Operations Shuttle Bus Operations Rolling Stock Maintenance
Contract Oversight
Accounting & Finance
Legal Marketing
Planning and CapitalDevelopment
Procurement
Service Delivery
Customer Service
Engineering Operations
Station Agents
Ticket Sales
Executive
Administration
Board Support Legal
Security Station Maintenance Revenue Collection Systems
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10/31/2011 9
4. SFRTA
PRIVATIZED SERVICE DELIVERY
19% *
Operations
Contractor SFRTA
81%
3%
Capital
Contractor SFRTA
97%Fiscal Year 2010
* 19% SFRTA includes 9% direct service delivery and 10% administrative costs
SFRTA is the most privatized Commuter Rail provider in the US
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10/31/2011 10
4. SFRTA
HIGHLY EFFICIENT SERVICE DELIVERY
Service Delivery
Administration
Independent Analysis by AECOM Fall 2011
91%
91 Cents of Every Dollar Spent on Service Delivery
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10/31/2011 11
4. SFRTA
COST STRUCTURE COMPARES FAVORABLY
TO INDUSTRY
0%
10%
20%
30%
40%
50%
60%
70%
VehicleOperations
VehicleMaintenance
Non-VehicleMaintenance
Administration
Industry LOW
SFRTA
Industry AVE
Industry HIGH
National Transit Database Categories *
* Based upon latest available NTD Report: 2009
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10/31/2011 12
Phase 1 (2005-2007) Freight assessment, mapped constraints and market
opportunities, conceptual alternatives
Phase 2 (2008-2010) Detailed definition of alternatives Recommended a complex and intense network of four
interconnected services KEY PRODUCT: DRAFT Locally Preferred Alternative (LPA)
Phase 3 (2011-Present) Revising master plan, forecasts and implementation plans Federal environmental permits Finance Alternatives
5. SOUTH FLORIDA EAST COAST
CORRIDOR STUDY
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10/31/2011 16
6. FDOT & FEC 2011
PROPOSAL
In August of 2011 FDOTunveiled a less ambitiousFEC Standalone plan*
While less costly to buildand operate, service isstandalone and limited toFort Lauderdale toDowntown Miami
Palm Beach
Miami-Dade
Broward
* Study prepared by FDOT & HDR July 2011(Submitted to news media & SFRTA on August 26, 2011)
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Service Plan
Operations
AnnualOperating Cost
Capital Cost
Finance Plan
Schedule
10/31/2011 17
AN SFRTA PROPOSAL FOR
REINTRODUCTION OF PASSENGER RAILSERVICE IN THE FEC CORRIDOR
7. SFRTAS FAST START PLAN
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7. SFRTAs
FAST START
PLAN
10/31/2011 18
SERVICE PLAN
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7. SFRTAS FAST START PLAN
SERVICE PLAN
Integrated Service
Unifies existing Tri-Rail and newFEC services by connecting themin Pompano Beach
+ Fin ancially Feasible Plan
Low start up costs and anaffordable operating plan theleverages existing public
investment in SFRTA/Tri-Rail
= Fast Implementation
Service can begin quickly
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10/31/2011 20
7. SFRTAS FAST START PLAN
SERVICE PLAN
Step One
Split Existing Tri-Rail Service
Orange Line (26 trains/day) Blue Line (24 trains/day)
Orange Line
Current Tri-Rail Route
Blue Line
New Downtown Miami Service
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10/31/2011 21
7. SFRTAS FAST START PLAN
SERVICE PLAN
Step Two
Add service to highest
ridership section of routeto match existing Tri-Railservice level of 50 trainsper day
Green Line (26 trains/day)
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7. SFRTAS FAST START PLAN
SERVICE PLAN
Step Three
Provide a regional service
on the FEC between Jupiterand Downtown Miami
Red Line (6 trains/day)
Sets stage for regionalservice extending north
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7. SFRTAS FAST START PLAN
SERVICE PLAN
Result
Integrated Servic e
Regional service on the FECbetween Jupiter and Miami
A one-seat ride to downtownFort Lauderdale or Miami
Modest Capital Costs
Low Operating Costs SFRTAs plan assumes no
incremental administrative costs
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7. SFRTAs
FAST START
PLAN
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OPERATIONS PLAN
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New FEC Service
10/31/2011 25
7. SFRTAS FAST START PLAN
OPERATIONS PLAN
Modified Tri-Rail Service
Mangonia Park Miami Airport26 weekday trains18 stations
Downtown Fort Lauderdale Downtown Miami26 weekday trains10 stations
Mangonia Park Downtown Miami24 weekday trains20 stations
Jupiter Downtown Miami6 weekday trains18 stations
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7. SFRTAs
FAST START
PLAN
10/31/2011 26
ANNUAL
OPERATING COST
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Administration
SFRTAs plan assumes no incremental administrative costs
FDOT assumes a new administrative structure
Operations and Vehicle Maintenance
SFRTAs estimates are based upon actual contracts with Veoliaand Bombardier, which provide very attractive rates foradditional service
FDOTs estimates are based on the National Transit Database
Maintenance of Way
SFRTA includes fees
FDOT overlooked CSXT and FEC maintenance charges
Neither plan addresses a corridor use fee with FEC
10/31/2011
7. SFRTAS FAST START PLAN
ANNUAL OPERATING COSTS
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$9.9
$3.9
$0.9
$11.1
$0.0
$5.0
$10.0
$15.0
$20.0
$25.0
$30.0
FDOT
Millions
Administration
Maintenance of Way
Vehicle Maintenance
Operations
Comparison of Annual Operating Costs
7. SFRTAS FAST START PLAN
ANNUAL OPERATING COSTS
$25.8M
* August 2011 FDOT and FEC Proposalusing National Transit DatabaseFDOT & FEC 2011 Proposal
Fort Lauderdale to Miami
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FDOT & FEC 2011 Proposal
Fort Lauderdale to Miami
$9.9
$5.3
$3.9
$3.1
$0.9
$4.1
$11.1
$0.0
$5.0
$10.0
$15.0
$20.0
$25.0
$30.0
FDOT SFRTA
Millions
Administration
Maintenance of Way
Vehicle Maintenance
Operations
Comparison of Annual Operating Costs
7. SFRTAS FAST START PLAN
ANNUAL OPERATING COSTS
$12.5M
$25.8M
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Standalone FEC Service Fast Start
Jupiter -Miami
$9.9$5.3 $5.2
$3.9
$3.1 $1.9
$0.9
$4.1 $7.9
$11.1
$0.0
$5.0
$10.0
$15.0
$20.0
$25.0
$30.0
FDOT SFRTA SFRTA
Millions
Administration
Maintenance of Way
Vehicle Maintenance
Operations
Comparison of Annual Operating Costs
7. SFRTAS FAST START PLAN
ANNUAL OPERATING COSTS
$25.8M
$12.5M$15.0M
FDOT & FEC 2011 Proposal
Fort Lauderdale to Miami
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Administrative $0
Maintenance of
Way$7.9M
VehicleMaintenance
$1.9M
Operations$5.2M
10/31/2011 31
7. SFRTAS FAST START PLAN
ANNUAL OPERATING COSTS
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7. SFRTAs
FAST START
PLAN
10/31/2011 32
CAPITAL COSTS
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7. SFRTAS FAST START PLAN
CAPITAL COSTS
DescriptionFDOT & FEC 2011
Proposal*
SFRTA
Fast Start Plan
Track and Structures $44.2 $53.1
Stations and Facilities $21.4 $30.2
Communications and Signals $30.9 $48.6
Crossings $20.7 $23.2
Infrastructure Subtotal $117.2 $155.1
Engineering & Other Costs $75.0 $100.6
Subtotal $192.2 $255.7
Rolling Stock $56.9 $0
New Layover Facility $16.2 $16.2
Grand Total $265.2 $271.9
* All estimates by SFRTA
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7. SFRTAs
FAST START
PLAN
10/31/2011 34
FINANCIAL PLAN
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SFRTA Fast Start Financial Plan based upon
four assumptions:
1. FDOT will fund capital costs
2. SFRTA contributes to new operating costs3. Cities will pay new annual fee per station on FEC
corridor to defray operating costs
4. Increase fares system-wide upon introduction on
Tri-Rail Coastal service
10/31/2011 35
7. SFRTAS FAST START PLAN
FINANCIAL PLAN
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City station assessment
All 17 cities identified in SFRTAs Fast StartPlan will directly benefit from the FEC service
All will be required to contribute an annualoperating fee
Each City will be required to sign a long termagreement with SFRTA BEFORE a station isapproved for construction.
10/31/2011 36
7. SFRTAS FAST START PLAN
FINANCIAL PLAN
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SFRTA Planning Staff to develop acomprehensive assessment for each city ofeconomic development potential as a result of
Tri-Rail Coastal Service
10/31/2011 37
7. SFRTAS FAST START PLAN
FINANCIAL PLAN: CITY STATION ASSESSMENT
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Tri-Rail Coast Service Low RevenueScenario
High RevenueScenario
Annual Operating Cost * $15.030 million $15.030 million
SFRTA Savings $1.500 $2.350
New Service Fare Box $4.29 $5.36
System-wide Fare Increase ** $0 $1.287
Short-fall $9.240 6.033
City Stations 17 17Annual City Station Assessment*** ~$550K ~$350K
10/31/2011 38
Notes: * Does not include FEC corridor fee** Only incremental increase included*** Subject to negotiations on corridor cost
DRAFT
7. SFRTAS FAST START PLAN
FINANCIAL PLAN
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7. SFRTAs
FAST START
PLAN
10/31/2011 39
SCHEDULE
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SFRTA is confident it can begin Tri-Rail CoastService in the corridor within the next threeto five years.
For perspective, FDOT has been conductingplanning studies for eight years and has years
of additional studies budgeted
10/31/2011 40
7. SFRTAS FAST START PLAN
SCHEDULE
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ServiceDescription
LPA SFRTAs FastStart Plan
FDOT & FEC2011 Proposal *
Integrated with Tri-Rail? Yes Yes No
Jupiter to Miami Service? Yes Yes No
Fort Lauderdale to Miami Only? No No YesCompetes with Tri-Rail? No No Yes
Leverages Existing PublicInvestment in SFRTA and Tri-Rail?
Yes Yes No
Stations 47 17 8
Economic Development Potential Excellent Very Good Moderate
Trains per day (weekday) 300 82 50
Distance 85 + SFRC 85 + SFRC 24
10/31/2011 41* Study prepared by FDOT & HDR July 2011
8. COMPARISON OF FDOT PROPOSAL &
SFRTA FAST STARTPLAN
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Other IssuesDescription
LocallyPreferred
Alternative
SFRTAs Fast
Start PlanFDOT & FEC
2011 Proposal*
Ridership Potential Excellent Very Good Good
Federal Environmental Review Yes No ??
Time to Implementation >10 Years
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Funding & OversightDescription
LPA SFRTAs FastStart Plan
FDOT & FEC2011 Proposal *
Addition County FundingRequired?
Likely No Yes
Public Agency Oversight Likely SFRTA SFRTA No
Public Funds to Private Firm? No No Yes
Annual Operating Cost $177-203million
$15.0 million $25 million
Capital Cost $2.5 billion $271.9 million $265.2 million
10/31/2011 43* Study prepared by FDOT & HDR July 2011
8. COMPARISON OF FDOT PROPOSAL &
SFRTA FAST STARTPLAN
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SFRTA should continue its leadership role inbringing passenger service to the region
SFRTA is uniquely positioned to implement theTri-Rail Coastal Service quickly and efficiently
Superior integrated service for about half the
operating cost of the FDOT and FEC proposal
SFRTA can implement the Tri-Rail CoastalService with no additional equipment
10/31/2011 44
9. SUMMARY
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Tri-Rail
Coastal
Service
South Florida RegionalTransportation Authority
Miami-
Dade
Broward
Palm
Beach
Getting Southeast Florida To Work