counties transit improvement board: program of projects & transit investment framework workshop...
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Counties Transit Improvement Board: Program of Projects & Transit Investment Framework Workshop 3 Board Workshop October 16, 2013. Today’s Presentation. Review Goal & CTIB Vision Technical readiness – Phase 1, 2, and 3 Workshop 1 and 2 PoP Investment Strategies - PowerPoint PPT PresentationTRANSCRIPT
Counties Transit Improvement Board:
Program of Projects & Transit Investment Framework
Workshop 3
Board WorkshopOctober 16, 2013
Today’s Presentation• Review
• Goal & CTIB Vision
• Technical readiness – Phase 1, 2, and 3
• Workshop 1 and 2
• PoP Investment Strategies• Phase 1 with current resources
• Phase 1 and 2 with expanded resources
• Proposed revisions to the Transit Investment Framework
Page 2
Program of Projects (PoP) Goal
Accelerate the development and
construction of multiple transitways to
serve the region
Page 3
CTIB’s
PoP Vision for
catalytic
transitway
development
Page 4
2013-2014 Technical Readiness
Page 5
Phase I
Phase 2
Phase 3
Page 6
Funding CTIB’s PoP
Page 7
August workshopLimited resources
Phase 2CTIB 30%/50%
0.25%
Phase 1CTIB
30%/50%
Funding
Partners’
Challenges
Page 8
September workshopOptions to resolve funding constraints
Shrink PoP
0.25%Additional revenue
Deliver PoP
Increase revenue Shrink PoP - or -
Page 9
October workshopPoP Investment Strategies
• Phase 1 within current resources– Phase 1 projects funded at current shares
– No expansion of 0.25% sales tax
• Phase 1 & 2 with expanded resources– Phase 1 and 2 projects funded with greater
CTIB share
– Sales tax expanded by 0.25%
Page 10
PoP Investment Strategy: Phase 1
Page 11
Projects Funded
• Southwest at CMC budget level
• Gateway as exclusive BRT
• Streetcars (SCAR) not funded by CTIB
CTIF Funding for Phase 1:√ Southwest LRT√ Bottineau LRT√ I35W S HBRT√ Cedar Ave Stage 2 HBRT√ Gateway EBRT/LRT□ Robert St. SCAR/HBRT□ Red Rock HBRT/Com□ Rush Line HBRT/LRT□ Riverview HBRT/LRT
Page 12
Funding Assumptions
• Sales tax at 0.25%, five-county
• Historic funding levels assumed:– 50/30/10/10 Federal/
CTIB/State/Local for capital– 50/50 CTIB/State for net
operating subsidies
Funding shares:√ 50% Federal capital√ 30% CTIB capital√ 10% State capital√ 10% Local capital√ 50% CTIB net op. share√ 50% State net op. share
Page 13
Phase 1 - 0.25% Tax - Current shares
Page 14
CTIB Funding for Phase 1 :√ Southwest LRT√ Bottineau LRT√ I35W S HBRT√ Cedar Ave Stage 2 HBRT√ Gateway EBRT/LRT□ Robert St. SCAR/HBRT□ Red Rock HBRT/Com□ Rush Line HBRT/LRT□ Riverview HBRT/LRT
Funding shares:√ 50% Federal√ 30% CTIB capital√ 10% State capital√ 10% Local capital√ 50% CTIB net op. share√ 50% State net op. share
Alternate Phase 1 - CTIB funds Robert Street streetcar capital
• Southwest at CMC budget level
• Gateway as exclusive BRT• CTIB participates in Robert
Street streetcar capital, but not the operating subsidy
CTIB funding for Phase 1:√ Southwest LRT√ Bottineau LRT√ I35W S HBRT√ Cedar Ave Stage 2 HBRT√ Gateway EBRT/LRT√ Robert St. SCAR (no op.)□ Red Rock HBRT/Com□ Rush Line HBRT/LRT□ Riverview HBRT/LRT
Page 15
Alternate Phase 1 - 0.25% Tax - Current funding shares*
CTIB funding for Phase 1:√ Southwest LRT√ Bottineau LRT√ I35W S HBRT√ Cedar Ave Stage 2 HBRT√ Gateway EBRT/LRT√ Robert St. SCAR (no op.*)□ Red Rock HBRT/Com□ Rush Line HBRT/LRT□ Riverview HBRT/LRT
Funding shares:√ 50% Federal√ 30% CTIB capital√ 10% State capital√ 10% Local capital√ 50% CTIB net op. share*√ 50% State net op. share, but 100% for streetcars
* CTIB capital share for Robert St. streetcar, but no net operating subsidy
Page 16
Phase 1 Observations
Advantages• CTIB can fund its share
of Phase 1• Regional balance• No new taxes
Disadvantages• Complete vision is not
accomplished• Funding partners’
obstacles are not addressed
• No acceleration• Limited/no funding
available for other projects or enhancements
Page 17
PoP Investment Strategy: Phase 1 and Phase 2
Page 18
Phase 1 and 2 Projects Funded
• Southwest at CMC budget level
• Gateway as exclusive BRT• Robert Street illustrated as
streetcar, with CTIB funding• Remaining projects include
1 LRT and 2 HBRTs
CTIB funding for Phase 1 & Phase 2:√ Southwest LRT√ Bottineau LRT√ I35W S HBRT√ Cedar Ave Stage 2 HBRT√ Gateway EBRT/LRT√ Robert St. SCAR/HBRT√ Red Rock HBRT/Com√ Rush Line HBRT/LRT√ Riverview HBRT/LRT
Page 19
Phase 1 and 2 Funding Assumptions
• Sales tax expanded 0.25%, five-county
• Funding levels modified to accelerate development:– 45/40/5/10 Federal/CTIB/
State/Local for capital– 50/50 CTIB/State for
operating– ¼ of new taxes distributed to
counties (≈ 0.06% tax rate)
Funding shares:√ 45% Federal√ 40% CTIB capital√ 5% State capital√ 10 % Local capital√ ¼ of new tax County discretionary√ 50% CTIB net op. share√ 50 % State net op. share
Page 20
Phases 1 & 2 - Additional 0.25% Tax - Adjusted shares for capital & operating
CTIB funding for Phase 1 & Phase 2:√ Southwest LRT ($1.56B)√ Bottineau LRT√ I35W S HBRT√ Cedar Ave Stage 2 HBRT√ Gateway EBRT/LRT√ Robert St. SCAR/HBRT√ Red Rock HBRT/Com√ Rush Line HBRT/LRT√ Riverview HBRT/LRTFunding shares:√ 45% Federal√ 40% CTIB capital√ 5% State capital√ 10% Local capital√ 50% CTIB net op. share√ 50 % State net op. share√ ¼ of new tax County discretionary Page 21
Observations Phase 1 & 2
Advantages• CTIB can fund its share of
Phase 1 & Phase 2• Acceleration• Funding partners capital
shares are addressed• Enhances reg. balance• Funds for counties for
transportation priorities, e.g.– Corridor planning– Local 10%– Roads & bridges
Disadvantages• Phase 3 is not addressed• Requires legislative
action• May require action by
County Boards• Requires tax increase• State share of net
operating subsidy is not addressed
Page 22
CTIB’s Goal: Resources balanced with PoP needs
CTIB’s PoPSufficient Resources
Page 23
Implementation Plan for PoP Investment Strategy
Page 24
Action Steps• Select preferred PoP Investment Strategy
– Phase 1 only– Phase 1 and 2
• If Phase 1 and 2 PoP Investment Strategy is preferred– Adopt State legislative platform including
additional sales tax revenues– Develop federal funding strategy– Develop local funding strategy
Page 25
Action Steps• Revise Transit Investment Framework
– Address MAP-21 changes– Incorporate preferred PoP Investment Strategy– Update grant solicitation process
• Re-initiate discretionary capital grant application process for 2014 funding
• Provide comments to Met Council on TPP and Thrive 2040 consistent with Board’s PoP Investment Strategy
Page 26
Questions?
Page 27
Schedule for revisions to TIF• October 16, 2013
– Part 2: Vision– Part 3: Role of the Board– Part 4: Purpose of Transit Investment Framework– Part 5: Guiding principles and policies
• November 20, 2013– Part 6: Funding commitments– Part 7: Financial principles– Part 8: Annual financial review, capacity estimates, reporting
• December 18, 2013– Part 9: Process for solicitation, evaluation and award of grants– Part 10: Miscellaneous– Adoption of TIF
Page 29