our pedestrian future Lance Schulte

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Geoffrey Goodwin
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1 A way to fund our pedestrian future Lance Schulte

2 Transit Oriented District Community Facility District i t Focused on funding walking/biking/transit Lower development costs Shift auto costs to more cost effective transit/walking/biking facilities. Savings invested in District with public/private benefits Best applied Assisting underdeveloped land around transit Parking districts & transportation demand management Development standards supportive Reinvestment e in district is desireded

3 Basics Property owners volunteer to join TOD CFD Make a condition of development approval TOD CFD revenues fund Capital projects: transit & pedestrian mobility Operations: transit pass & car-share, maintenance Vehicle trip demand/impact reduction TOD CFD funds shift to transit/walking modes Parking reduction related ltdto vehicle hil trip ti reduction TOD development standards - use freed space Open space, pedestrian, bike facilities

4 Benefits Stable revenues for transit and pedestrians Increased mode shift to transit/walking Reduced traffic impacts in district and network Enhanced pedestrian/transit/bike facilities Private sector development cost savings Up-front costs: mode shift and pay as you go funding Traffic and environmental mitigation due to mode shift More mixed-use and dlarger customer/population ti base Supports affordable housing & economic development

5 Setup Adopt parameters in Local Goals and Polices Use, limitations, programs and projects, credit quality of bonds, disclosure to CFD property owners. 2% rule Future Annexation Area Adopted d Allows property owners to vote to form a TOD CFD with subsequent owners voting to annex in Future Annexation Area can be discontinuous Multiple jurisdictions (Joint Community Facility Agreements) CFD formations require a 2/3 vote. Less than 12 registered voters 2/3 approval by affected property owners; more than 12, by registered voters

6 Modeled Example Example: 460 homes with average $403,000 assessed valuation % tax rate 30-yr 6.5% bond Funds: $90/month transit pass per home, and $5 million in pedestrian/bike capital improvements Cost per home $2,277/year $1,134/year is for transit pass

7 Cost Savings Compare TOD CFD cost to parking cost savings Land: 300 SF/space at $50/SF = $15,000 Surface: $3,500 -$5,000/space + yearly maintenance Structured: $25,000 -$30,000/space + maintenance Subterranean: $35,000 - $50,000/space + maintenance VMT reduction cost savings 15,000: miles at $0.50/mile = $7,500/year Road network savings from VMT reductions Potential GHG cost savings

8 Parking Cost Savings If applied to the 10 minute area around the transit site: Higher density is likely to be approved Less traffic impact and circulation mitigations Substantial savings in development cost More space available for public pedestrian and bike space

9 The 10-minute TOD Walk to Transit

10 TOD CFD Structure Structure TOD CFD to optimal transit capacity Share development cost savings between Land owner Developer Owner/occupant City and transit agency Cost savings partially reallocated to Improved development feasibility and affordability Infrastructure and service in TOD CFD area Build high quality TOD environment

11 As we walk into the future City we will develop new ways to Comprehensively fund the transition to more walkable places Better account for the costs of various mobility modes Better use transit to connect our walkable places in creating our City and Cities

12 Thank you Questions?

13 TOD Planning as a Campus Community Funding Transit Oriented District Community Facility Districts Activities within 15-minute walk 1/2 mile at 2mph, about 500 acres Transit as pedestrian extension transit pass programs Parking District manage pooling and cost Pedestrian Density 5-story Mixed-use Form-based on pedestrian spaces

14 Campus as a Attractive and Functional lpedestrian Place 80 acres 2.3 million SF.63 FAR 10FAR Beds 2,800 parking 910,000 SF Transit Shuttle Light rail Bus

15 Thinking in terms of a campus 15-minute walk Mix of uses within the walk Rich pedestrian and bike environment Density at pedestrian level 5-stories Plan around spaces and pedestrian flows in spaces Parking pooled and located along outer edges If your planning creates a vibrant college campus you are promoting an attractive and functional pedestrian environment

17 15-minute Walk Environment 5 min walk to center of campus Retail services and entertainment development sites located along pedestrian and district access routes.

18 Plan Around Open Space and Pd Pedestrian ti Flows Transit stations: Shuttle, LFT, Bus

19 Parking Pooled and located on Edges Pooled parking Vehicle roadways

Capital and Strategic Planning Committee. Item III - B. April 12, WMATA s Transit-Oriented Development Objectives

Capital and Strategic Planning Committee Item III - B April 12, 2018 WMATA s Transit-Oriented Development Objectives Page 24 of 76 Washington Metropolitan Area Transit Authority Board Action/Information