Transcript [Business Communication]

Summary
As a component of our Transit Oriented Development (TOD) Policy, CAT has
evaluated the conditions affecting transit throughout the City of Savannah. Based
on our evaluation of these conditions, CAT supports incorporation of a streetcar into
Savannah’s public transit system as an ideal mechanism to:
•
Overcome constraints to development generated by a lack of area infrastructure,
less than efficient transportation system and inadequate physical connections.
•
Attract desirable private development, including professional jobs, lodging
facilities, retail and area services, and residences.
•
Improve public safety, increase population density, further diversity, and increase
employment opportunities.
CAT proactively embraces its role as the Regional Mobility Manager.
Savannah Streetcar
•
CAT is proposing the Savannah Streetcar as an essential investment for improving
accessibility and modal connectivity, and shaping a new, sustainable path for
community development.
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Savannah Streetcar will transform the City of Savannah’s urban core by providing
seamless connectivity between Savannah’s National Landmark Historic & Central
Business District and the East and West Downtown Savannah gateways.
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Both gateway areas are predominately low and moderate income, minority
communities, while Savannah’s National Landmark Historic & Central Business
District is one of the region’s largest employment and tourism centers.
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With the Savannah Streetcar as its central link, Savannah’s urban core will
expeditiously merge and grow into a more livable and affordable community
with a healthy mix of land uses, housing units and income groups.
Savannah Streetcar System
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This stage of the streetcar system is the first of several planned stages aimed
toward connectivity between Downtown Savannah and mid-town Savannah,
including revitalizing the Wheaton Street, Waters Avenue, Montgomery Street,
and DeRenne Avenue corridors.
•
The east-west transit spine of the streetcar will eventually link all transit
corridors to Savannah’s core urban area, offering a viable alternative for
automotive transport.
•
It will also facilitate a connection between national, regional and inter-regional
services since the Joe Murray Rivers, Jr. Intermodal Transit Center on
West Oglethorpe serves as Savannah‘s hub for Greyhound and inter-city bus
transportation.
Savannah Streetcar Stages 1 - 4
Streetcar Revitalization
MLK Blvd. Walkability Plan from
Savannah Development and Renewal Authority (SDRA)
Savannah Streetcar Stage 1
Alignment Description
Length:
Number of vehicles:
Number of stops:
Frequency of service:
Hours of operation:
Maintenance facility:
Transfer centers:
18,300 linear feet of double track:
From MLK at the Savannah River to Gwinnett Street
From MLK west on River Street to Fahm
From Fahm south to Turner
Four (4) streetcars
Twenty (20) curb-side stop locations
10 to 15 minutes with 20 minute headways
6 AM to 11 PM Monday through Thursday
6 AM to 12 AM on Friday
8 AM to 12 AM on Saturday
9 AM to 7 PM on Sunday
Fahm Street at West Oglethorpe Avenue
Transit Center @ Fahm and West Oglethorpe
Transit Center @ MLK and West River Street
Savannah Streetcar Stage 1 Impact Area
In 2013, CAT opened the Joe Murray Rivers, Jr. Intermodal Transit Center on West
Oglethorpe at Fahm Street:
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The area in which this major transit center is located – the Yamacraw Village /
Bay Street Viaduct neighborhood (Census Tract 1) – will transform over the next
five to ten years.
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According to the U.S. Census, there were 1,585 persons living in 330 total housing
units within Census Tract 1 in 2010.
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Construction in Census Tract 1 is aged 35 to 50 years. The area has experienced
only minor improvements in recent years and a predominance of the structures
in the area have deteriorated over time.
New Development – Stage 1 Impact Area
New development on twenty-seven (27) private parcels within the Yamacraw
Village / Bay Street Viaduct area are currently in construction or will begin
redevelopment over the next five years and will result in:
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More than a doubling of the number of persons living in the area.
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More than 1,100 new hotel rooms representing 550 hospitality jobs.
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New retail / restaurant space to support as many as 900 office jobs and
1,600 jobs in the retail / restaurant sector.
New Development – Stage 1 Impact Area
Economic and fiscal impact forecasted from this new development includes:
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More than $5.5 million in new property tax annually.
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$19 million in new sales tax proceeds annually, of which $2.7 million would
be allocated to the City.
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$2.4 million in new hotel occupancy tax annually.
The result of this new development will be a dramatic and significant increase
in demand to access the area – as many as 12,000 new automotive trips in and
out of the area on a daily basis.
West Downtown Tax Allocation District
Stage 1 of the streetcar system would reduce automobile traffic by providing
access to the area via the streetcar and ferry system from the Visitors Center,
the Intermodal Transit Center, and the west end of River Street:
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CAT is asking the City to establish a base line of property values for a West
Downtown TAD effective December 31, 2013.
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CAT is not asking the city to issue a bond at this time.
West Downtown Tax Allocation District
Stage 1 – Cost-Benefit Analysis
Streetcar development cost – Stage 1
Ferry landing @ MLK & West River St
Debt service reserve & transaction cost
Total cost (estimated)
New value - 27 private parcels
Total cost
New value to cost ratio over five years
$
$
$
50,000,000
1,000,000
4,000,000
55,000,000
500,000,000
55,000,000
9:1
Cost-Benefit Analysis – Similar Cities
City
Streetcar
Infrastructure
Cost
Development
Investment
along Route
Return
on
Investment
Portland, OR
$103.2 million
$3.5 billon
34:1
$28 million
$400 million
14:1
$48.3 million
$1 billion
21:1
$5.2 million
$150 million
29:1
$104.3 million
$2 billon
19:1
$126 million
$1.1 billion
9:1
Little Rock, AR
Tampa, FL
Kenosha, WI
Memphis, TN
Providence, RI
Source: Providence Core Connector Study / Rhode Island Public Transit Authority 2013
Savannah Streetcar
Considerations regarding potential funding for cost to build and operation:
•
Federal Transit Administration (FTA) - Competitive Grant Process
– TIGER
– Small Starts
– New Starts
• Local
– East Downtown TAD Bond of $3.6 million for alignment and $10
million for Intermodal Facility.
– Eliminates need to raise ad valorem taxes.
•
Letters of support from stakeholders and funding match to support
Federal funding.
www.catconnects.com