Streetcar Extension O&M Funding Issue

7/28/2019 Streetcar Extension O&M Funding Issue

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Potential TIGER StreetcarOperation and Maintenance

Funding Mechanisms

Transportation & Environment Committee

June 10, 2013


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TIGER Streetcar Project Overview

Phase I - The 1.6 mile base project currently under construction

runs from Union Station to Methodist Hospital at a cost ofapproximately $48.6 million, including vehicles $26 million in federal funding

$12.8 million in local funding (Regional Toll Road Revenue)

$1.5 million (reprogrammed bond program dollars)

$9 million from DART for vehicles

Phase II One-half mile northern extension loop is in conceptualdesign, proposed to run from Union Station to the Omni DallasConvention Center Hotel, at a cost of approximately $10 million Local funding (Texas Mobility Funds)

Phase III Three-quarter mile southern extension loop is in

conceptual design, proposed to run from Methodist Hospital tothe Zang Blvd. / Davis St. intersection at the Bishop Arts District,at a cost of approximately $21 million Local funding (Texas Mobility Funds)


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Dallas Streetcar Network


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TIGER Streetcar:Operations & Maintenance (O&M) Costs

O&M cost for Phase 1 ($500,000 per year) funded byDallas Area Rapid Transit (DART) and privatedeveloper (Stratford Land) $200,000 a year from DART

$300,000 a year for ten years ($3 million total) from Stratford,

reimbursed through Davis Garden TIF District Base project assumes weekday service only

Between 5:00 a.m. to 7:00 p.m.

Assumes 20 minute peak service and 30 minute off peakservice


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TIGER Streetcar:Operations & Maintenance (O&M) Costs

O&M cost for Streetcar Extension

Phases 2 & 3 Extensions with weekday service only estimated at $750,000per year

Between 5:00 a.m. to 7:00 p.m. Assumes 20 minute peak service and 30 minute off peak

service

Extensions with weekday and weekend extendedhours estimated at $2.5 million per year

Service from 5:00 a.m. to midnight Assumes 15 minute headways DART funds $750,000 per year

Unfunded gap of $1.75 million per year


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Potential O&M Funding Sources

Tax Increment Financing (TIF) City Center TIF

Downtown Connection TIF

Oak Cliff Gateway TIF

New TIF districts yet to be created

Public Improvement District (PID) Downtown Improvement District (DID)

New PIDs in North Oak Cliff or Downtown overlay

DART 2030 Plan


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Dallas Streetcar Phase 2 Extension


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Dallas Streetcar Phase 3 Extension


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Funding Challenges TIF funding availability uncertain

Timing an issue because increment collection varies bydistrict and is dependent on property value increases

Existing TIF commitments in Downtown and Oak CliffGateway TIFs

New Oak Cliff TIF would require large catalyst project to

ensure new increment is generated Public Improvement Districts

Formation and assessment rate requires consent ofland-owning stakeholders

Existing Downtown Improvement District (DID) has

some capacity but many priorities (potential to form astreetcar-centric Downtown overlay PID) New Oak Cliff PID would require institutional support

DART 2030 Plan

Documents

Streetcar Extension O&M Funding Issue