Funding Opportunities for Premium Transit Corridors Presenation

Funding OpportunitiesPremium Transit CorridorsMOVING PROJECTS FORWARD

Summary of the Potential Funding Sources forPremium Transit Corridors

DISCRETIONARY FUNDING OPPORTUNITIES

Potential Source DefinitionPotential New Revenue

(Millions)Section 5309 New

Starts

Federal This program funds construction of new fixed guideway systems or extensions to existing

systems. This is based on a competitive program which requires a non-federal match of

at least 20%.

Project above $250 requesting

funding higher than $75

Section 5309 Small

Starts

Federal Program similar to the New Starts but geared toward smaller scaled projects requiring

also a 20% local match.

Project under $250 requesting

funding up to $75

TIGER Grant Federal Multi-modal, multi-jurisdictional projects that are more difficult to support through

traditional DOT programs.

Approximately $500 (2015)

nationally

Florida New Starts

Transit Program

State Assist local governments in developing and constructing fixed-guideway and bus rapid

transit projects. Project need to meet eligibility requirements under the federal New

Starts Program.

Program funds may not exceed

over 50% of the non-federal

share

Sales Tax (Charter

County and regional

transportation surtax)

increase

Local Within the limits set by Florida Statutes, a local discretionary sales surtax rates can set by

the local government. An additional increase in the current rate by 0.5 percent (half-

cent) could result in about $280 million in 2019 (YOE$), growing at CPI thereafter.

$280 million additional

in 2019 (YOE$)

Current Revenue:

$280 million

2




(Millions)Vehicle Mile Travel

(VMT) Tax State

Local

Application of VMT tax to replace the motor fuel-based taxes is now widely debatedamong state and federal government officials. If a $0.01 per mile (1 cent per mile) VMTtax is imposed, it is projected to generate about $137 million in revenue in 2019 (YOE$).The 2040 LRTP Travel Demand Forecast estimated an increase in countywide VTM fromweekday VMT of 42.2 million in 2010 to about 55.6 million in 2040.


annual revenue

in 2019 (YOE$)

Current Revenue: $0

VMT Tax does not currently

exist

Additional Real

Property Ad Valorem

Tax

Local Property tax revenues are calculated by multiplying the Taxable Value by theadopted/forecasted millage for the fiscal year. An additional $0.25 per $1,000 of taxableproperty value (0.25 mills) charged on the top of the current County millage rate couldgenerate about $57 million in additional property tax revenue in 2019 growing with theCPI thereafter.


in 2019

Current Revenue:

$ 1.37 billion

Local Option Gas Tax

(LOGT) increase

Local Within the limits set by Florida Statutes, County governments are authorized to levy a taxof 1 up to 5 cents on every net gallon of motor fuel sold within a county. The current rateis 3 cents per gallon of motor fuel. To impose an additional 2 cent per gallon tax wouldrequire an extraordinary vote of the county commission or a countywide referenduminitiated by the commission.


in 2019

Current Revenue:

$21 million

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(Millions)Miami-Dade County

Parking garages -

Additional Parking Fee

Local If an additional $0.50 per day fee (with no discounts) is imposed as a parking surcharge

for the existing 9,000 MDT spaces and 5,000 ISD spaces, it may generate additional $2

million annually provided all spaces are filled (but this projection does not address a loss

in transit ridership resulting from the increased cost of travel).


in 2019

Current Revenue:

$2 million

Additional Hotel

Occupancy TaxLocal

State

Miami-Dade collects three types of hotel occupancy taxes or Transient Rental Taxes: a 2

percent Tourist Development Tax, a 3 percent Convention Development and 1 per cent

Professional Sports Franchise Tax. With the 6 percent Florida sales tax, Miami-Dade

would get an additional tourist tax of 6 percent bringing the total tax charged on the

hotel occupancy to 12 percent. An increase in tax rate by another 0.5% could generate

about $9 million in 2019 (YOE$).


in 2019

Current Revenue:

$89 million

Transportation

Infrastructure Finance

and Innovation Act

(TIFIA)

Federal The Transportation Infrastructure Finance and Innovation Act (TIFIA) program provides

Federal credit assistance in the form of direct loans, loan guarantees, and standby lines

of credit to finance surface transportation projects of national and regional significance.

Based on project needs

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(Millions)State of Florida

Infrastructure Bank

(SIB)

State The State Infrastructure Bank (SIB) can provide loans and other assistance to public and

private entities carrying out or proposing to carry out projects eligible for assistance

under state and federal law.

Based on project needs

Tolls:

Miami-Dade Expressway Authority

Turnpike Enterprise

Local Toll is a payment or fee exacted by the state and/or local authorities for some right or

privilege, as for passage along a road or over a bridge.

A toll revenue bond is used to build a public project such as a bridge, tunnel or

expressway. The principal and interest repayments are supplied by revenues from tolls

paid by users of the public project in question.

limited transit corridor

opportunities

Tax Increment

Financing (TIF)

Local A tax increment is the difference between the amount of property tax revenue

generated before TIF district designation and the amount of property tax generated after

TIP designation. Only property taxes generated by the incremental increase in value of

TIF district are available for TIF projects. Tax rates do not change when a TIF is created.

Under evaluation by CITT

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Summary of Alternatives by Premium Transit Corridors

CORRIDOR

LOCALLY-PREFERRED ALTERNATIVE OR INITIAL VISION PER THE RECENT ACTIVITY TARGETED FUNDING SOURCE

TECHNOLOGYRIDERSHIP

(FORECAST YEAR)

CAPITAL COST

in $M (YEAR)TECHNOLOGY

CAPITAL COST IN

$M (YEAR)Federal State Local

AirportLink Metrorail 560 (2012) Completed

Beach 1 Light Rail ~ 17,000 (2025) 774 (2013) Light Rail 1 532 (2013)

Douglas Light Rail ~ 9,300 (2010) 310 (2013) BRT

East-West

(MIC to SW 8th

Street/SW 137th

Avenue)

Metrorail ~ 27,500 (2030) 2,300 (2019) Express Bus 2 25 (2015)

BRT 170 (2015)

CSX Commuter

Rail 3102+ (2015) Under Evaluation

North Metrorail ~ 9,600 (2012) 1,400 (2016) BRT 153 (2015)

Northeast 4 Commuter Rail ~ 36,000 (2035) 810 (2012) EBS 32 (2013)

Kendall BRT/DLRT ~ 7,000 (2030) 443 (2006) BRT 141 (2015)

South BRT/Metrorail + 3,200 (2030) 398 (2005) Under Evaluation

1: As of May 4, 2015, two cities and FDOT are pursuing different light rail portions.

2: Express bus is referred to as enhanced bus in the MPO’s TIP and LRTP.

3: Estimate for minimum operating segment and does not include cost of using / acquiring CSX right-of-way.

4: Capital cost estimate for Tri-Rail Coastal Link is (TRCL) for three counties.

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Beach Corridor

Light Rail Transit Option

Direct Connection

Highlights

• Technology: LRT

• Corridor Length: 6.5 miles

• Est. Capital Cost: $532M (ROW not included)

• Est. Annual M&O Costs: $22M

• Est. Ridership: 17,000 (2025)

Current StatusThe Policy Executive Committee (PEC) approved Resolution #01-15 on May, 4, 2015:

• The project will be developed in three (3) stages, but will be compatible in terms of design, technology, fare collection and be operated and maintained by one entity.

• The project should be LRT operating on a dedicated lane.

• The cities of Miami and Miami Beach will proceed with their own environmental analysis.

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Beach Corridor Funding Options

Other Potential Funding Sources

• Causeway Tolling(not favored by the parties involved)

• Additional parking fee

• Local Option Gas Tax (LOGT)

• Concessions/Advertising/Naming Rights

Proposed Potential Funding Sources for Value Capture(Beach Corridor Transit Connection Study)

• Tax Increment Financing yield: $18 million/year

• Special Assessment District yield: $12 million/year

• 1% local option surtax to the Tourist and Convention Development Tax yield: $10 million/year

• Total: ~$40 million/year

Potential Funding Sources

• Local Funds

Citizens Independent Transportation Trust (CITT)

City of Miami

City of Miami Beach

• StateLimited participation

• FederalVery limited or no participation due to the fact the cities are not following a federal process

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Douglas CorridorHighlights

• Technology: BRT



• Est. Annual M&O Costs: $2.1M

• Current Daily Ridership: 4,046 passengers (May 2015)

Current StatusThe Bus Rapid Transit (BRT) Implementation Plan along Transit Corridors requested by the MPO Governing Board on Summer 2014 was completed in in April 2015.

• Pending for additional actions:

Development of PD&E

Funding

Moving to design, ROW acquisition and construction

MIC

Douglas Rd. Metrorail Station

NW

37

thA

ve.

SR-836

SW 8th St.

SW 22nd St.

9

Douglas Corridor Funding Options

Other Potential Funding Sources

• Tax Increment Financing (TIF) District

• Special Assessment District

• Business Improvement Districts (BID)

• Local Option Gas Tax (LOGT)

• Transportation Alternative Program (TAP)

• National Highway System (NHS)

• Strategic Intermodal System (SIS)

• State Transit Block Grant



• P-3 (As a delivery mechanism)

Potential Funding Sources

• Local Funds

County (CITT – Sales Tax)

City of Miami Proposed Transportation Trust

• State

Florida New StartsUp to 50% of non-federal share

State Infrastructure Bank (SIB)

• Federal

Small StartsUp to $75M – 20% local match

Urban Funds

TIFIA Loan

SW 37 Avenue – just south of Flagler StreetNot to scale – for illustrative purposes

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South Link - Busway

11

• The South Link Study was completed in 2005. The Locally Preferred Alternative (LPA) included:

Metrorail Extension to SW 104th Street - $101.6M

Enhanced BRT from SW 104th Street to Homestead - $210.0M

Grade Separation - $86M

Total - $397M

• Alternative to extend Metrorail to Homestead - $1.6B

Current Status

• South Link Update

Evaluate the alternatives considered in 2005

and update the costs

Analyze pros and cons for each alternative

Tentatively to be completed by First Quarter

of 2016

• Evaluation of Multimodal Options in South Miami-Dade

To identify and evaluate transit, roadway and non-motorized

improvements to develop a transportation plan for the area.

Tentatively to be completed by Fall of 2016

Busway Recommendations

Recommendations

• Improve existing services along the Busway

Maximize exiting resources

Implement a trunk and feeder system along the corridors

• Complete the two proposed studies

South Link Update

Evaluation of Multimodal Options in South Miami-Dade

• Based on the results of the studies, select a Locally Preferred Alternative (LPA)

Funding Sources

• LPA shall identify potential funding sources, as appropriate.

• Re-evaluate alternative proposed by MDX

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• Move to:

PD&E

Design

ROW Acquisition

Construction

Operation

Possible simultaneously implementation of Douglas and the Busway Corridors

Northeast CorridorAll Aboard Florida

• Providing service from Downtown Miami to Orlando Airport

• First Phase from Downtown Miami to Palm Beach

• Terminal stations located in Downtown Miami, Fort Lauderdale and Palm Beach

• Project fully funded by the private sector with the assistance of the locals

Tri-Rail Costal Link (TRCL)

• Providing service from Downtown Miami to Palm Beach

• Developing of the PD&E

• Total estimated costs $810M to be paid by the three (3) counties

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East-West Corridor

CSX Commuter Services

• Study underway

MIC to NW 107th Avenue

Minimum Operating Service

Preliminary estimated capital cost about $102M

ROW costs are not included

• Need to negotiate with CSX the acquisition of the ROW

SR-836 Express Bus Service

• This project is fully funded through state and local funds

• Expected to be in operation by the end of 2017

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Flagler StreetFIU

SR-836

Downtown

Miami

NW 12th St.

MIC

This corridor includes three components:

• BRT on Flagler Street (already discussed)

• SR-836 Express Bus Service

• CSX Commuter Services

Flagler Street CorridorHighlights

• Technology: BRT





Current StatusIn February 19, 2015, the MPO Governing Board approved under Resolution #01-15 the development of the Project Development and Environmental (PD&E) for this corridor. This PD&E will be conducted by FDOT in coordination with Miami-Dade transit (MDT) and the MPO.


Development of the Scope of Services

Initiate consultant selection process

Start PD&E scheduled for First Quarter of 2016

Flagler Street

FIU

SR-836 Downtown

Miami

Flagler Street – east of NW 37 AveNot to scale – for illustrative purposes

15

NW 27th Avenue CorridorHighlights

• Technology: BRT







Development of the Scope of Services



NW 215th Street P&R

MIC

SR-112

HEFT

Miami Gardens Dr.

NW 79th Street

NW 27 Avenue – just south of Sesame StreetNot to scale – for illustrative purposes

16

Kendall Drive CorridorHighlights

• Technology: BRT







Development of the Scope of Services (SOS)



17

Dadeland Mall

Dadeland South

Metrorail Station

Funding Options for Implementing BRTs

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The proposed funding sources does not preclude or limit the use of other available funding sources for the implementation of thethree (3) BRTs. These funds may include:

• Special Assessment District

• Business Improvement Districts (BID)

• Transportation Alternative Program (TAP)

• State Transit Block Grant


• Additional hotel Occupancy Tax


• P-3 (As a delivery mechanism)

• Florida New Starts - Up to 50% of non-federal share

• Federal Small Starts - Up to $75M – 20% local match

• Local Option Gas Tax (LOGT) - Could generate $20M/year

• State Infrastructure Bank (SIB)

• Transportation Infrastructure Finance and Innovation Act TIFIA Loan

• Tax Increment Financing (TIF) District Currently, CITT is conducting corridor studies

• Use of tolls revenues for capital costs related to the implementation of transit premium projects:

FDOT – Managed Lanes

Florida Turnpike Enterprise

Miami-Dade Expressway Authority (MDX)

THANK YOU!

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Government & Nonprofit

Funding Opportunities for Premium Transit Corridors Presenation