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Counties Transit Improvement Board: Program of Projects & Transit Investment Framework Workshop 3

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

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Counties Transit Improvement Board: Program of Projects & Transit Investment Framework Workshop 3

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  1. Counties Transit Improvement Board: Program of Projects & Transit Investment Framework Workshop 3 Board Workshop October 16, 2013

  2. 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

  3. Program of Projects (PoP) Goal Accelerate the development and construction of multiple transitways to serve the region Page 3

  4. CTIB’s PoP Vision forcatalytic transitway development Page 4

  5. 2013-2014 Technical Readiness Page 5

  6. Phase I Phase 2 Phase 3

  7. Funding CTIB’s PoP Page 7

  8. August workshopLimited resources Phase 1 CTIB 30%/50% 0.25% Phase 2 CTIB 30%/50% Funding Partners’ Challenges Page 8

  9. September workshopOptions to resolve funding constraints Shrink PoP 0.25% Deliver PoP Additional revenue - or - Shrink PoP Increase revenue Page 9

  10. 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

  11. PoP Investment Strategy: Phase 1 Page 11

  12. 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

  13. 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

  14. Phase 1 - 0.25% Tax - Current shares 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

  15. 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

  16. 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

  17. Phase 1 Observations Advantages Disadvantages Complete vision is not accomplished Funding partners’ obstacles are not addressed No acceleration Limited/no funding available for other projects or enhancements • CTIB can fund its share of Phase 1 • Regional balance • No new taxes Page 17

  18. PoP Investment Strategy: Phase 1 and Phase 2 Page 18

  19. 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

  20. 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 taxCounty discretionary √50% CTIB net op. share √ 50 % State net op. share Page 20

  21. 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/LRT Funding 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 taxCounty discretionary Page 21

  22. Observations Phase 1 & 2 Advantages 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 • 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 Page 22

  23. CTIB’s Goal: Resources balanced with PoP needs CTIB’s PoP Sufficient Resources Page 23

  24. Implementation Plan for PoP Investment Strategy Page 24

  25. 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

  26. 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

  27. Questions? Page 27

  28. 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

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