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Streetcar Economic Development Impact and Projected Ridership

Ken Danter The Danter Company

Streetcar Working GroupNovember 13, 2006

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Economic Impact Considerations

Residential/Commercial/Business Development

Property Taxes New Jobs to Downtown and Resulting City

Income Taxes Convention and Tourism and Resulting

Expenditures

COLUMBUS TREND

PORTLAND TREND

STREETCARCONSTRUCTION

BEGINS

STREETCAROPENS

ESTIMATED PORTLAND TREND WITH NO STREETCAR DEVELOPMENT

ESTIMATEDSTREETCAR

IMPACT

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Residential/Commercial/Business Development By Type

Condominium/Apartment – 1,500 units Ground-floor Commercial/Business –

120,000 to 150,000 square feet Hotel/Lodging – 300 additional hotel rooms

– Brings additional Bed Tax Revenues City’s Emergency Human Services Fund Columbus General Fund Housing Trust Fund Cultural Development Promote City of Columbus

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Candidates for Development Potential

Vacant parcels Surface parking Underused parcels Historic properties in fair to poor condition

that might be eligible for historic tax credits

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Key Characteristics of Proposed Lines

Line

BlueGreen West

Green East

Blue + Red

Blue + Red + Green

Vacant, Surface Parking and Underused Parcels

24.78 acres

12.26 acres

24.17 acres

36.44 acres

72.87 acres

Historic Properties Square Feet

679,317 sq. ft.

0 sq. ft.

541,241 sq. ft.

736,655 sq. ft.

1,277,896 sq. ft.

Within 400 feet of line (approximately 1 city block)

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Projected Residential/Commercial/ Business Development Impact

LINELOW

ESTIMATE*HIGH

ESTIMATE*

Blue $211 million $238 million

Blue + Green East $394 million $448 million

Blue + Green West $308 million $346 million

Blue + Green $491 million $556 million

Blue + Red $259 million $297 million

Blue + Green + Red $540 million $616 million

*Adjusted to 2008 dollars (4.0% annual increase – Source: CDDC)

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Property Tax Estimates – (5-year Cumulative)(75% Abatement Applied to Downtown Properties)

LINELOW

ESTIMATE*HIGH

ESTIMATE*

Blue $2.5 million $2.9 million

Blue + Green East $4.9 million $5.6 million

Blue + Green West $3.7 million $4.2 million

Blue + Green $6.0 million $6.9 million

Blue + Red $5.2 million $6.0 million

Blue + Green + Red $8.6 million $9.9 million

*Adjusted to 2008 dollars (4.0% annual increase – Source: CDDC)

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Additional Jobs to Downtown Generated by Streetcars Over 3,000 jobs Downtown from streetcars Types of jobs projected:

– Construction– Residential management/maintenance– Commercial/business services– Streetcar drivers/maintenance/support

Average income: $42,200 Cumulative (5-year) increase in city income tax:

$2.7 million**Adjusted to 2008 dollars (4.0% annual increase – Source: CDDC)

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Convention and Tourism Increase and Resulting Expenditures

90,000 additional visitors– 50,000 overnight stays– 40,000 day trips

$52.8 million* cumulative expenditures over 5 years

*Adjusted to 2008 dollars (4.0% annual increase – Source: CDDC)

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Total Economic Development5 years

LINELOW

ESTIMATE*HIGH

ESTIMATE*Blue $216 million $248 million

Blue + Green East $410 million $464 million

Blue + Green West $319 million $356 million

Blue + Green $508 million $578 million

Blue + Red $270 million $308 million

Blue + Green + Red $562 million $637 million

*All totals adjusted to 2008 dollars (4.0% annual increase – Source: CDDC)

Includes market value of development of condominiums, rental units, commercial/businesses and hotels; cumulative property tax (not considering abatements); cumulative net gain from city income tax (over 800 new employees); cumulative increase in convention/tourism expenditures

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Ridership Considerations

Population Employment Hotel rooms Student enrollment Destinations Case studies

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Ridership Case Study Factors Within 800 Feet of Line

MarketResident

Population EmployeesHotel

Rooms

Average Daily Ridership

(Stabilized)

Memphis 2,884 19,827 2,627 2,514

Portland 14,731 49,931 2,936 6,900

Columbus Blue + Green

5,442 64,833 3,105 5,000 – 5,600*

Columbus Blue + Green + Red

10,886 67,002 3,105 6,400 – 7,200*

* At stabilization (5 years)

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Ridership Estimates

Average Daily Ridership Estimates Blue/Green

– Stabilized ridership (Year 5) – 5,000 to 5,600– First 4 years of operation - 3,000 to 4,500

Red Line Extension (Buttles to 11th Avenue)– Stabilized ridership (Year 5) – 1,400 to 1,600– First 4 years of operation - 840 to 1,280