Transcript 2014 Mobility Fee Update StudyStakeholder Kick

2014 Mobility Fee Update Study
Stakeholder Kick-off Meeting
March 20, 2014
What is a Mobility
Fee?
• One-time charge on travel-generating
development to help fund needed
transportation system capacity.
• Developed consistent with adopted
comprehensive/transportation plan
Why do we need
one?
• Efficient, safe, and predictable transportation
system fosters economic growth
• Contributes to quality of life (less travel time
required for daily activities)
• Diversifies revenue sources
• Mobility fee $$ can leverage other $$
Why do we need
one?
• Rate of growth outpaces rate of system
expansion
Consider:
In 2010, Pasco had about 9M vmt
If 2.3%/yr growth, by 2040, we’ll add 8M vmt
At $350/vmc, that costs $2.8B (at a 1:1 ratio)
In-place State, County revenues generate ~$1.4B –
so, we need (at least) another $1.4B or more.
How is the fee
calculated?
Fee = Travel Generated x Cost of
Capacity – Credits – Incentives
Where:
Travel Generated: [# Trips x Trip Length x % New Trips / 2]
Cost of Capacity: Multi-modal, per LRTP, QoS
Credits: Self-generated $ for capacity (e.g. gas tax, P4P)
Incentives: Gov’t pays for portion of fee for specific uses using
taxes from non-growth sources.
How is the fee
calculated?
Incentives for location of development (Urban,
Suburban, Rural)
Incentives for form of development (TOD, TND,
MUTRM)
Incentives for job-creation/attraction (Office,
Industrial, and Lodging)
Key Objectives & Issues
• Reduced revenues, higher growth rate
• Coordinate with 2040 LRTP Update
• Diversify and tier incentives
– MUTRM
– West Market Area redevelopment corridor
• Update costs, trip characteristics, etc.
– Mining/Industrial uses
What’s Changed?
• Growth Rates
Horizon-Year Growth Forecasts
2035
2040
2011 Original Study
2014 Update Study (1)
Total
AGR
Total
AGR
Population
846,683
658,584
3.04%
1.58%
905,216
852,550
2.29%
2.09%
Employees
357,542
3.68%
348,840
3.47%
249,962
2.41%
Source: 2035 LRTP, 2011 Mobility Fee Study, and 2040 LRTP Update Study.
2040 2.09% rate is BEBR med/high average, 2.29 rate is BEBR high.
1.58% used in 2035 is slightly above 2010 BEBR medium (1.50%).
Conclusion: We'll be budgeting for a higher growth rate this go-around, so
buy-down budget will be tighter, accept lower QoS, or increase revenues.
What’s Changed?
2010 - 2035 (2011 Study)
Population
• Growth
Location
• More growth
allocated to Urban
district
West
South
Central
East
North
Total
Number/Year
465
3,462
2,203
726
549
7,405
Employment
%
6%
47%
30%
10%
7%
100%
Difference: Number/Year
West
South
2011 Study at 1.58%/yr
2040 LRTP Update at
2.29%
%
5%
51%
17%
19%
7%
100%
2040 LRTP Update
Population
•
•
Number/Year
188
1,898
647
711
259
3,703
Central
East
North
Total
1,911
7,357
3,359
1,215
1,031
14,873
Employment
%
13%
49%
23%
8%
7%
100%
Number/Year
1,019
4,596
1,229
831
642
8,317
%
12%
55%
15%
10%
8%
100%
What’s Changed?
• Costs up by ~15-18 percent
• Shifting gas tax to maintenance
• More strategic incentives strategy
– Tier 1, Tier 2 incentives
Project Schedule
2040 LRTP Update
Mobility Fee Update Study
February
March
Data Assembly
April
May
June
July
“Go Public”
Funding/Fee Strategies
Tweak per 2040
LRTP/ Produce Fee
Schedules
Establish Input
Parameters
Administrative
Policy Manual
Adjustments
Adoption
Documentation
Build Base
Alternatives Model
Needs/Issues Assessment
Policy-Constrained Needs Plan
Cost Affordable Plan Alternatives (thru September)
Project Management Meeting
Stakeholder/BCC Meeting
End of Presentation
What’s Changed?
• Revenues
Comparison of 2035 LRTP Revenues with 2040 LRTP Revenues
2035 LRTP(1)
$$$
%
$$$
%
Transportation Impact/Mobility Fees
Developer Contributions
Proportionate Share
$3,717,833,813
$1,676,162,460
$774,044,223
38.1%
17.2%
7.9%
$1,580,000,000
$1,676,162,460
$387,022,112
22.3%
23.7%
5.5%
Gasoline Tax (3)
Local Transit
Local Option Sales Tax (P4P) (3)
$365,491,077
$76,377,047
3.7%
0.8%
$97,350,000
$76,377,047
1.4%
1.1%
$72,665,070
0.7%
$292,077,000
4.1%
(4)
$1,059,623,154
10.9%
$2,074,000,000
29.3%
State/Federal Sources:
$2,011,145,411
$9,753,342,255
20.6%
100.0%
$902,125,000
$7,085,113,619
12.7%
100.0%
Transit Surtax
Notes: 1.
2.
3.
4.
2040 LRTP(2)
Revenues over 2015 to 2035, from 2035 LRTP report
Initial estimates for 2019 - 2040, to be refined over course of 2040 LRTP update.
2035 LRTP assumed expiration in 2024.
2035 LRTP assumes 2020 through 2035, 2040 LRTP assumes collection 2019 through 2040.
Annual expenditure per capita of population growth:
$32,990
$21,932
Tier 1 Incentives
•
•
•
•
Urban office, industrial, TOD
West market area redevelopment
Urban TND / MUTRM / Urban design
Urban Hotel / Motel
Tier 2 Incentives
•
•
•
•
•
•
•
Suburban office, industrial
Suburban TND
Suburban hotel / motel
Rural office, industrial
Rural hotel / motel
Non-TND urban retail / institutional / recreation
Non-TND urban residential
Tier 3 Incentives
•
•
•
•
Suburban retail / institutional / recreational
Rural retail / institutional / recreational
Non-TND suburban residential
Non-TND rural residential