March 30, 2016 Proposed Downtown Miami Link A PUBLIC PRIVATE PARTNERSHIP Presented to: Secretary Boxold, FDOT Presented by: Jack Stephens, Executive Director, SFRTA March 30, 2016
Downtown Miami Link Costs 1. Rail Infrastructure Track & Signals Grade Crossing Upgrades (Quiet Zones on E W Segment) $20.3M FDOT Funding Request $16.2 Million 2. Positive Train Control (PTC) 3. Corridor Access Fee Perpetual Commuter Rail Easement Iris Connection to Downtown Miami (~8.5 miles) 4. Downtown Miami Station Tri Rail Portion of Elevated Station, Shared Station Elements and Support Columns FDOT confirmed negotiated costs as reasonable Local Funding Committed $3.1 Million $1 Million $50.1 Million 3/29/2016 2
FDOT Conditions for Funding 1. No state funds in station 2. Need local support $50.1 M local funding commitment in place 3. Benefit Cost Analysis +1.8 4. IRR Analysis +8.8 5. SFRTA Capital Funding Participation 6. Indemnification Evaluating Insurance in lieu pending future legislative approval 3/29/2016 3
Overview Florida East Coast Rail Corridor History Tri Rail Coastal Link Study FDOT s Rail Interconnections TIGER Grant Downtown Miami Link FDOT Funding Request 3/29/2016 4
Tri Rail Downtown Miami & Coastal Link Service Areas 3/29/2016 5
Florida East Coast Railway Corridor, FDOT s Leadership Role and Tri Rail Coastal Link Project History 1894 96 Henry Flagler extends FEC Railway to West Palm Beach & Miami 1968 Passenger rail service on FEC discontinued 1980 s FDOT considers FEC corridor for new Tri Rail service, but railroad ownership not interested at the time 1988 89 FDOT purchase of CSX corridor / New Tri Rail commuter rail service begins 1990 s & Early 2000 s Multiple studies conducted by various agencies for new rail transit service in FEC Railway corridor 3/29/2016 6
Florida East Coast Railway Corridor, FDOT s Leadership Role and Tri Rail Coastal Link Project History 2004 FEC requests all studies be combined into one regional study of the entire 85 mile FEC corridor. FDOT begin project management role of South Florida East Coast Corridor (SFECC) Study 2012 FEC Industries announces plans for All Aboard Florida, a private inter city passenger service between Miami & Orlando 2012 Tri Party Discussion begin: FDOT, SFRTA and FECI May 2013 Multi agency Memorandum of Understanding approved by MPOs, SFRTA, FDOT and RPCs. Project name changed to Tri Rail Coastal Link ; FDOT designated to lead Project Development phase 3/29/2016 7
Florida East Coast Railway Corridor, FDOT s Leadership Role and Tri Rail Coastal Link Project History Spring 2013 FDOT applies for USDOT TIGER grant to provide two new FEC SFRC rail connections at IRIS in Miami Dade and Northwood in Palm Beach counties (FDOT, SFRTA ($2.5 million), CSXT, and FEC local matching fund partners) Fall 2013 FDOT District 4 Secretary Wolfe suggests interim Tri Rail service across Iris rail connection to Downtown Miami Fall 2014 FECI/AAF and SFRTA begin discussions for possible interim Tri Rail Downtown Miami Link service across Iris rail connection 3/29/2016 8
South Florida Rail Corridor (SFRC) to the Florida East Coast Rail Corridor (FEC) The Region s Core The region s economic core 1 million jobs 1.5 million people Multiple downtowns 3 international airports and 3 seaports Extensive rail, truck, and marine freight The region s transportation core 3 million trips per day comprise 17% of the region s travel Ridership growing on existing transit services Roadways at capacity with limited opportunities for expansion 3/29/2016 9
80 miles of new commuter rail service in FEC corridor Downtown Miami to Jupiter Fully integrated expansion of Tri Rail 20 to 25 new stations linking dozens of municipalities and major destinations Shares existing and new tracks with FEC freight and the planned All Aboard Florida (AAF) inter city service Three co located stations with AAF Capital cost estimate ~$800 M (2014$) Annual O&M cost estimate ~$35 M per year (2014$) 3/29/2016 10
FDOT s TIGER Project: SFRC & FEC Rail Connections Northwood 2018 Provides key east west rail connections between Tri Rail/CSX on the South Florida Rail Corridor (SFRC) & FEC Rail Corridor Allow for an integrated freight & passenger rail network Fully funded rail connections $13.7 M USDOT TIGER V grant award with $29M FDOT, $1M CSXT, $1M FEC, and $2.5M SFRTA. Creates near term opportunity for Tri Rail Downtown Miami Link 3/29/2016 Iris 2016 11
Tri Rail Downtown Miami Link Unique Public Private Partnership opportunity New Station and Service to Downtown Miami Excellent Ridership Splits existing Tri Rail service between Miami Intermodal Center and Downtown Miami. Fast Implementation Miami Station becomes anchor for future Tri Rail Coast Link service Strong local support and funding commitments of $50 M 3/29/2016 12
Tri Rail Downtown Miami Link Route Map 3/29/2016 13
Tri Rail Downtown Miami Link Station Tri Rail All Aboard Florida Cross section of the elevated MiamiCentral complex in Downtown Miami. Will serve AAF s Bright Line Intercity and Tri Rail s Commuter Rail services. Connects to Metro Rail, Metro Mover, and MDT buses. 3/29/2016 14
Downtown Miami 3/29/2016 15
Corridor Access Comps 1. SunRail Total Cost of CSXT Agreement: $432M for 61.5 miles $7.0M/mile Two independent appraisals confirmed value $400+ million 2. CSXT Miami Corridor Proposed Sale ~$10.0M/mile (unconfirmed proposal) 3. Tri Rail Downtown Miami Link $1m for 8.5 miles $117,647/mile 3/29/2016 16
Indemnification Approach Indemnification did not pass 2016 Legislature due to external factors, not concerns with Indemnification per se. SFRTA Board committed at March 2016 meeting to leading 2017 Legislative efforts on Indemnification SFRTA will develop and ensure strong South Florida legislative support If 2017 Legislative efforts fail, SFRTA can use a combination of self insurance and purchased insurance to create the same coverage as the proposed indemnification legislation to allow revenue service to begin until future legislative efforts prevail. 3/29/2016 17
FDOT Options for Participation in Tri Rail Downtown Miami Link Service 1. FDOT executes the Access and Easement Agreements with FECR and AAF, committing FDOT s $20.3 Million contingent upon passage of the indemnification language in the 2017 Legislative session. 2. FDOT*: purchases the easement on the 8.5 mile corridor (including the viaduct) for $1M; indemnifies FECR per Section 341.302, F.S.; and amends the FDOT/SFRTA Operating Agreement to permit extension of the existing insurance program on the SFRC to the 8.5 mile corridor. 3. FDOT* amends the FDOT/SFRTA Operating Agreement to: designate SFRTA, per Section 341.302(17), F.S., to operate on the 8.5 mile corridor so SFRTA can indemnify FECR (it would be publicly owned because SFRTA would hold the easement from FECR); and allow SFRTA to use existing excess insurance policies for the SFRC on the 8.5 mile corridor. * Note: Options 2 and 3 do NOT require FDOT to commit to the full $20.3 million at this time. 3/29/2016 18
Funding Request of FDOT Funding Status SFRTA agreed to FDOT s request to participate in capital funding by reserving $3.1M for positive train control (PTC) Downtown Miami Station now short $3.1M $20.3M unfunded Rail Infrastructure and Corridor Access $50.1M local funds committed SFRTA Request of FDOT: 1. FDOT programs $17.2M of NEW FUNDS for Rail Infrastructure and Corridor Access 2. FDOT reprograms $3.1M of SFRTA s 79 th Street capital project to PTC 3. SFRTA to move its $3.1M of PTC funds to the Miami Station 3/29/2016 19
Funding Plan Tri Rail Downtown Miami Link Funding Partner Project Element Total SEOPW CRA Station $17,528,049 Omni CRA Station $3,750,000 City of Miami Station $8,097,030 Bayfront Park Trust Station $250,000 Miami Downtown Development Authority Station $1,267,000 Miami Dade County Station $13,900,000 FDOT Discretionary Fund Contribution (Reprogrammed monies) Florida Department of Transportation South Florida Regional Transportation Authority Rail Infrastructure (Positive Train Control) $3,107,921 Rail Infrastructure and $17,190,000 Rail Corridor Easement Project $5,350,000 Total Project Cost $70,440,000 3/29/2016 20
Questions 3/29/2016 21