TPA Steering Committee for Tri-Rail Extension to Northern Palm Beach County. February 26, 2018

TPA Steering Committee for Tri-Rail Extension to Northern Palm Beach County February 26, 2018

Agenda Review Committee Purpose Review Project Map Discuss Service Alternatives Capital Costs (Stations, Track, Trains) Capital Fund Sources (FTA, State, Local) Operating Costs (Stations, Track, Service) Operating Fund Sources (fares, existing taxes, new sources) Next Steps 2

Committee Purpose Determine preferred service alternative Develop a viable capital and operations funding strategy Define the access fee and conditions to use the private Florida East Coast (FEC) rail corridor for the project 3

Project Map Northern Layover Facility Northwood Crossover 4

Capital Costs - Stations Concrete platforms with canopy Benches, bike racks, trash receptacles Ticket vending machines Dynamic messaging signs, wayfinding Lighting, communications, and security elements Landscaping, sidewalk connectivity On-site parking as noted Does not include overhead pedestrian bridge Source: 2014 Preliminary Project Development Report New Tri-Rail Pompano Station 5

Capital Costs - Stations Location Parking Spaces Size (ac) ROW Cost Const. Cost 45 th Street Station 145 2.4 $500K $7.2M 13 th Street Station 50 0.7 $300K $6.9M Park Avenue Station 85 1.3 $0 $7.0M PGA Blvd Station 165 2.5 $4.0M $7.3M Toney Penna Drive Station 105 1.5 $8.0M $7.1M Sources: 2014 Preliminary Project Development Report, inflated to 2018 dollars assuming 3.5% annual inflation factor for construction unit costs; TPA Estimates for parking, acreage, right-of-way. 6

Capital Costs - Track Mainline Rails Rails, ties, and ballast rock Siding tracks at stations Crossovers Grade crossings modifications Utility impacts / relocations Systems and Communications Positive Train Control, Signals 7

Capital Costs - Track Location Length (mi) Const. Cost Northwood Crossover to 45 th Street 1.1 $5.6M 45 th Street to 13 th Street 1.4 $7.1M 13 th Street to Park Avenue 1.8 $9.1M Park Avenue to PGA Blvd 3.5 $17.7M PGA Blvd Station to Toney Penna Drive 5.6 $19.2M Sources: 2014 Preliminary Project Development Report, inflated to 2018 dollars assuming 3.5% annual inflation factor for construction unit costs; TPA Estimates for parking, acreage, right-of-way. 8

Capital Costs - Trains Locomotive $8 million Passenger Cars $3.0 to $3.5 million Trainset (Locomotive & 3 Passenger Cars) $17.0 to $18.5 million Source: SFRTA 9

Capital Costs - Total Stations $48.3M Track $58.7M Trains $0 Total $107M Sources: 2014 Preliminary Project Development Report, inflated to 2018 dollars assuming 3.5% annual inflation factor for construction unit costs; TPA Estimates for parking at stations. 10

Capital Funding Florida US Average Future? Local 25% Federal 20% Federal 50% Local 42% Federal 44% Local 40% State 25% State 14% State 40% Source: APTA, 2016; Cambridge Systematics 11

Capital Fund Sources Funding Source Revenue Yield Potential FEDERAL USDOT Discretionary TIGER Grants FTA Discretionary Section 5309 Capital Investment Grants - Small Starts <$300M project STATE FDOT New Starts Program LOCAL / Other Moderate Max $10M High Max 80%, < $100M High 50% Non-Fed Share Low Moderate High Joint Development Low? Special Assessment High? Tax Increment Finance District High? Tax Sales, Property High? 12

Transit Capital Funding Requires Local Match SunRail (Orlando) 25% Local (County general funds) 25% State 50% Federal Wave Streetcar (Fort Lauderdale) 31% Local (County, City, DDA) 27% State (FDOT) 42% Federal (TIGER IV, Small Starts, MPO) 13

Transit Capital Funding Requires Local Match Miami-Dade Tax Increment Finance District Adopted February 6, 2018 Half-mile to each side of 6 SMART rail corridors ~ 55 mi Includes approximately 1/3 of County property Diverts incremental tax over base growth to transit $1.8 B over 30 years forecast 14

Existing Tri-Rail Service Weekday Service Southbound trains depart Mangonia Park from 4:00 am to 8:40 pm 20-40 minute headways during peak 60-minute headways during off-peak 50 trains per day, both directions Weekend Service Southbound trains depart Mangonia Park from 5:50 am to 9:00 pm 60-minute headways all day 30 trains per day, both directions 15

FEC Corridor Service Alternatives Existing Tri-Rail Service Option 1 Mangonia Park Mainline Toney Penna Station Option 2 Jupiter Mainline Toney Penna Station Option 3 Split Mainline Service Toney Penna Station PGA Blvd Station PGA Blvd Station PGA Blvd Station Park Ave Station Park Ave Station Park Ave Station 13 th St Station 13 th St Station 13 th St Station Mangonia Park Station 45 th St Station Mangonia Park Station 45 th St Station Mangonia Park Station 45 th St Station Mangonia Park Station WPB Station WPB Station WPB Station WPB Station 16

Operating Cost Components Stations Maintenance, Security, Utilities, Revenue Collection, Signage and Messaging Boards Track Maintenance of Way Service Operating Contract, Train Maintenance, Security, Train Fuel Contract, Dispatch, Corridor Utilities, Revenue Collection 17

Operating Costs Fully Burdened Cost per Vehicle Revenue Hour: $720 Source: National Transit Database 2016 Agency Profile Includes station costs, track costs, and service costs Service Alternative Additional Revenue Hrs. Cost Option 1 Mangonia Park Mainline 23,600 $17M Option 2 Jupiter Mainline 26,400 $19M Option 3 Split Mainline Service 16,700 $12M Calculations of revenue hours are rough order of magnitude based on extrapolation of current train travel times. 18

FEC Corridor Service Alternatives Existing Tri-Rail Service Option 1 Mangonia Park Mainline Toney Penna Station Option 2 Jupiter Mainline Toney Penna Station Option 3 Split Mainline Service Toney Penna Station PGA Blvd Station PGA Blvd Station PGA Blvd Station Park Ave Station Park Ave Station Park Ave Station 13 th St Station 13 th St Station 13 th St Station Mangonia Park Station 45 th St Station Mangonia Park Station 45 th St Station Mangonia Park Station 45 th St Station Mangonia Park Station WPB Station WPB Station WPB Station WPB Station Annual Operating Cost $17M $19M $12M 19

Operating Funding Florida Local 11% US Average Federal 9% Federal 29% State 25% Local 66% State 60% Source: APTA, 2016; Cambridge Systematics 20

Operating Fund Sources Revenue Sources Revenue Yield Stability Viability Ease of Administration TOD TIF Districts Moderate High High Low Transportation Reinvestment Zone Moderate High High Moderate Sales Tax (Transportation Surtax) High Moderate Low High Property Tax High High Low High Utility Fees Moderate High Low High Farebox Revenues Moderate Moderate Moderate High Parking Benefit District Moderate High Moderate Low Joint Development Low High High High 21

Development Potential No-Build Scenario Add l with Tri-Rail Service Station Area Res. (DU) Comm. (SF) Res. (DU) Comm. (SF) Property Value Increase Due to Tri-Rail Service Ad Valorem Tax Increase 45 th Street Station 120 68,000 0 0 0 0 13 th Street Station 50 190,000 0 69,000 $5,244,000 $72,000 Park Avenue Station 10 179,000 0 95,000 $7,505,000 $100,000 PGA Blvd Station 30 1,641,000 0 735,000 $58,065,000 $333,000 Toney Penna Drive Station 520 259,000 460 203,000 $78,756,000 $575,000 $1,080,000 Source: Tri-Rail Coastal Link Station Area Market and Economic Analysis, May 2013 22

Next Steps Review Service Alternatives to Refine Cost Determine Viable Funding Strategy Local share of capital Pursue Federal Funding? Local Funding source for operations & maintenance costs 23