Travel BenefitsTravel BenefitsBenefit/Cost Transit SlidesBenefit/Cost Transit Slides

Travel BenefitsTravel Benefits Are a primary source of benefitsAre a primary source of benefits Include benefits to transit and auto Include benefits to transit and auto

users, and trucks too users, and trucks too

Travel BenefitsTravel Benefits

Reduced travel Reduced travel timestimes

Out-of-pocket cost Out-of-pocket cost savings (e.g., fares savings (e.g., fares versus gas and versus gas and parking)parking)

Owning fewer carsOwning fewer cars Reduced accidentsReduced accidents

Increased RidershipIncreased Ridership Our project would increase <daily, annual> Our project would increase <daily, annual>

transit ridership by __. For these new transit transit ridership by __. For these new transit riders:riders:

Average travel time would Average travel time would decrease from __ to __decrease from __ to __

The average cost of a trip The average cost of a trip (including paid parking, the (including paid parking, the value of time, and value of time, and operating costs) would operating costs) would decrease from __ to __decrease from __ to __

The annual value of these The annual value of these cost savings is __cost savings is __NOTES TO USER:

Potential sources: User Cost Calculation Worksheets, Annual Direct User Benefit Worksheets.Delete this box to maintain slide formatting.

Our Project Benefits Auto Users TooOur Project Benefits Auto Users Too

Our project reduces auto trips by __Our project reduces auto trips by __ The average travel time for autos The average travel time for autos

declines from __ to __ (i.e., congestion declines from __ to __ (i.e., congestion is reduced) is reduced)

The annual value of cost savings to The annual value of cost savings to auto users is __auto users is __

NOTES TO USER:NOTES TO USER:Potential data sources: User Cost Calculation Worksheets, Annual Direct User Benefit WorksheetsPotential data sources: User Cost Calculation Worksheets, Annual Direct User Benefit WorksheetsDelete this box to maintain slide formatting.Delete this box to maintain slide formatting.

““Unrecognized” Parking CostsUnrecognized” Parking Costs

Parking is costly Parking is costly ($1,500 to $25,000 per ($1,500 to $25,000 per space)space)

When parking is When parking is subsidized, the value of subsidized, the value of the subsidy saved is an the subsidy saved is an additional benefit of additional benefit of attracting a new rider to attracting a new rider to transittransit

Our project reduces Our project reduces unrecognized parking unrecognized parking costs by __ per year costs by __ per year

NOTES TO USER:NOTES TO USER:Potential data sources: Parking Costs Avoided Worksheet.Potential data sources: Parking Costs Avoided Worksheet.Delete this box to maintain slide formatting.Delete this box to maintain slide formatting.

The “Option Value” of TransitThe “Option Value” of Transit

Transit service benefits everyone, not just Transit service benefits everyone, not just regular transit usersregular transit users

Auto users benefit from transit’s availability Auto users benefit from transit’s availability when:when: Cars are temporarily unavailable or are being Cars are temporarily unavailable or are being

repairedrepaired Drivers lose the ability to operate a carDrivers lose the ability to operate a car Bad weather makes driving particularly hazardousBad weather makes driving particularly hazardous

Our project provides annual “option value” Our project provides annual “option value” of $____of $____NOTES TO USER:NOTES TO USER:Potential data sources: Option Value of Transit Worksheet.Potential data sources: Option Value of Transit Worksheet.Delete this box to maintain slide formatting.Delete this box to maintain slide formatting.