TRANSPORTATION ADVISORY COMMISSION S WORK - PAST AND FUTURE:

Transcription

1 TRANSPORTATION ADVISORY COMMISSION S WORK - PAST AND FUTURE: Pierce County Transportation Advisory Commission

2 TODAY S DISCUSSION TAC s Work/Accomplishments in 2017 TAC s 2018 Work Program Immediate Work at Hand Delivering the TIF Administrative TIF Fees- If Time Allows Pierce County Transportation Advisory Commission 2

3 TAC Accomplishments TAC Project Milestones Set in January 2017 We Were a Bit Optimistic MILESTONES Complete TIF Discussions by end of spring 2017 Complete TBD Discussions by end of summer 2017 Council Adopts Revised TIF in Early 2018 Pierce County Transportation Advisory Commission 3

4 TAC Accomplishments Formed As Commission Per s Douglas Richardson, Chair Connie Ladenburg, Vice Chair Dan Roach Jim McCune Pam Roach Rick Talbert Derek Young Transportation Benefit District Board of Governors Pierce County Council Douglas Richardson, Chair Connie Ladenburg, Vice Chair Dan Roach Transportation Benefit District Executive Committee Pierce County Council Economic Infrastructure Development Committee Pam Roach, Chair Connie Ladenburg, Vice Chair Jim McCune Douglas Richardson Rick Talbert For Transportation Benefit District Review For Traffic Impact Fee Review Transportation Advisory Commission Member Deryl McCarty Paul Lubbesmeyer Donald Swensen Scott Jones Jeremiah LaFranca Tom Pierson Bob Myrick Jason Kennedy Brian Devereux Organization South Hill Land Use Advisory Commission Parkland-Spanaway-Midland Land Use Advisory Commission Key Peninsula Land Use Advisory Commission Newland Communities Master Builders Association of Pierce County Tacoma-Pierce County Chamber Tacoma Wheelman s Bicycle Club Pierce Transit Puyallup School District Pierce County Transportation Advisory Commission 4

5 Summarizing Tasks to Date 1. Conducted Committee Business 2. Reviewed financial picture 3. Worked on the new TIF Pierce County Transportation Advisory Commission 5

6 Summarizing Tasks to Date 1. Conducted Committee Business a. Adopted Operating Rules b. Elected chair and vice-chair c. Completed Open Public Meeting Administration Pierce County Transportation Advisory Commission 6

7 Summarizing Tasks to Date 2. Discussed the Following on Transportation Finance a. The Pierce County Transportation Benefit District (TBD) b. The current TIF Program Pierce County Transportation Advisory Commission 7

8 Summarizing Tasks to Date Key Points on Why Form the TBD Pierce County has the funding capacity to maintain, operate, and preserve its roads Additional funding needs to be identified for projects that support economic development, increase safety, improve non-motorized travel and reduce congestion Pierce County Transportation Advisory Commission 8

9 Key Points on The Current TIF Overview of TIF Fee Collections by Year Cumulative $32M to 2015* $7,000,000 $6,000,000 $5,000,000 Commercial Collections Residential Collections $4,000,000 $3,000,000 $2,000,000 $1,000,000 $ *Approximate- Exclusive of interest and fees Based on Permit Data Pierce County Transportation Advisory Commission 9

10 Key Points on The Current TIF TIF Collected to 2015* $5,995,134 19% Residential Collections $26,192,153 81% *Based on Permit Data Pierce County Transportation Advisory Commission 10

11 Key Points on The Current TIF Pierce County Transportation Advisory Commission 11

12 Key Points on The Current TIF Road and Intersection Improvement Costs $488 M Growth Costs $457 M ( 94 %) Existing Deficiency Costs $31 M ( 6 %) Public Funding Sources Total of $299 M Outside Funds Grants $ 102 M County Funds ½ Gas Tax $ 23 M REET $ 54 M CRF $ 120 M NET COSTS FOR IMPACT FEES $189 Million Pierce County Transportation Advisory Commission 12

13 Key Points on The Current TIF Pierce County Transportation Advisory Commission 13

14 Where We Left off on the TIF Project Pierce County Transportation Advisory Commission 14

15 Reviewing the December TAC Presentation Pierce County Transportation Advisory Commission 15

16 Expenditure by Project Type History of 6 Year TIP ( ) Project Group Average/Year % of % of Average/Year Average/Year Average/Year Bridge $692, % Capacity $4,344, % $4,344, % Miscellaneous $1,321, % New Alignment / Corridor $2,420, % $2,420, % Non-Motorized $1,154, % Preservation $5,922, % Concurrency Failure $1,634, % $1,634, % Safety* $6,327, % $2,109, % Total $23,813, % $10,507, % Capacity Projects Data was collected separately from individual TIP document from 2013 to 2018 * Includes all intersection improvements Pierce County Transportation Advisory Commission 16

17 Roadway Concurrency Project Cost and Cost Sharing ID Name Proposed Improvement Estimated Cost in 2018 Existing Cost Non TIF Cost TIF Cost C AV E WIDEN TO 3/4 LANES W/ CENTER TURN LANE $ 18,798,000 NA $ 9,637,106 $ 9,161,008 C AV EXT CONSTRUCT 2 NEW LANES W/ CENTER TURN LANE $ 10,061,358 NA $ 4,805,630 $ 5,255,728 C AV E / SHAW RD E ADD 1 SB LANE W/ CENTER TURN LANE $ 41,743,799 $ 2,543,700 $ 14,622,615 $ 24,577,484 C ST E WIDEN TO 3 LANES $ 13,697,100 NA $ 3,080,146 $ 10,616,954 C - 5 MILITARY RD E WIDEN TO 5 LANES $ 35,000,000 NA $ 9,539,766 $ 25,460,234 MILITARY RD E 34% Total % OF TIF COST BY PROJECT 94 AV E 12% 94 AV EXT 7% $ 119,300,257 $ 2,543,700 $ 41,685,263 $ 75,071,408 % of Total 2.13% 34.94% 62.93% 160 ST E 14% 122 AV E / SHAW RD E 33% Pierce County Transportation Advisory Commission 17

18 Adjustment of Cost of Per New Trip The combined total reduction of cost per new trip is almost $122 Reduction of TIF Share Project List Description Cost Per New Trip Estimated New Trip Ends Reduced Amount Adjusted Cost Reduction of Per New Trip Estimated Cost Per New Trip Original Proposed TIF Project List $ ,962 NA $ 312,461,837 N/A $ Reduction of "Completed TIF Project" Share $ $ ,962 $ 23,844,547 $ 288,617,290 $ $ Reduction of "Corridor & Connector" TIF Share $ $ ,962 $ 8,913,707 $ 279,703,583 $ $ Reduction of "Freight Mobility TIF Share 1 $ $ ,962 $ 26,416,319 $ 253,287,264 $ $ Total Reduction 481,962 $ 70,086,807 $ 70,086,807 $ Pierce County Transportation Advisory Commission 18

19 Refining Selected Project Improvement Costs Pierce County Transportation Advisory Commission 19

20 Cost Revision of Proposed Military Rd E Improvement Name Description Limits C-5: Military Rd E Widen existing road to 4 lanes with channelization Shaw Rd E to SR-162 Status Project Cost Original Estimation Revised Estimation Total $35,000,000 $50,000,000 TIF Share $25,460,000 $36,372,000 TIF % In Current TPU (add turn pockets) 72.74% Daily Vol Daily V/S ,330 25, Pierce County Transportation Advisory Commission 20

21 Revised Cost of Per New Trip $ $ $52.82 $75.46 $ $ $ $ $ $ Military Rd. All Others $0.00 Original Estimation Revised - 4 Lane Widening Pierce County Transportation Advisory Commission 21

22 Estimation of Annual TIF Revenues & Expenditures Pierce County Transportation Advisory Commission 22

23 Determination of TIF Fund ( ) Total Improvement Cost $662,752,000 Growth Cost Non Growth Cost 72.66% 27.34% $481,584,000 $181,168,000 Completed TIF1 Non County Existing County Growth Project Growth Usage/Deficiency $10,000,000 $289,527,000 $182,057,000 $181,168,000 Project Cost Adjustment -$35,330,000 $35,330,000 Concurrency $85,982,000 Property Tax Corridor & Connector $8,914,000 Fuel Tax Plateau Corridor $75,810,000 TIF Fund Public Fund Forest Tax Freight Mobility $26,416, % 60.14% REET Completed TIF1 $10,000,000 $264,197,000 $398,555,000 Grant Intersection Project $57,075,000 Miscellaneous Total $264,197,000 Total $398,555,000 Pierce County Transportation Advisory Commission 23

24 Major Revenue Sources of Road Fund ( ) Pierce County Transportation Advisory Commission 24

25 Major Revenue Sources of Road Fund Major Revenue Source Estimated Annual Revenue 10 Year Trend ( ) Indicator Property Tax $46,354,529 Fuel Tax $10,996,174 Forest Tax $893,837 REET $3,980,887 Grant 1 $6,184,778 TIF1 2 $3,772, year data year data. Pierce County Transportation Advisory Commission 25

26 Consumer Price Index vs. Construction Cost Index ( ) % % 90.00% Seattle-Tacoma Consumer Price Index (CPI) % Change WSDOT Construction Cost Index (CCI) % Change % 94.80% 70.00% 63.17% 64.04% 68.83% 65.39% 61.36% 71.00% 76.30% 70.49% 50.00% 30.00% 10.00% 3.63% 0.00% 0.78% 12.85% 8.53% 5.57% 7.15% 8.40% 33.62% 30.09% 26.56%29.09%30.31% 23.00%23.59%23.88% 18.80% 14.92% 11.22% 32.15% 33.51%35.73% % Pierce County Transportation Advisory Commission 26

27 Comparison of Average Cost Per New Trip $ $ $ $ $ $ $ $ $ $ $0.00 Currently Adopted TIF 1 (2005 Rate) Sea-Tac CPI-U Adjusted (2018 Rate) WSDOT CCI Adjusted (2018 Rate) Updated TIF 2 (2018 Rate) Pierce County Transportation Advisory Commission 27

28 Estimated Revenues & Expenditures (Annualized) All estimates are In 2018 Dollars Pierce County Transportation Advisory Commission 28

29 Estimated Revenue & Expenditure of Capacity Improvements All estimates are In 2018 Dollars Pierce County Transportation Advisory Commission 29

30 TIF- WHAT IS NEEDED BY THE TAC? THE TAC HAS GONE THROUGH MANY OF THE ANALYTICAL STEPS Develop Travel Model 5 8 Implement Program 7 Develop Policies 6 Create Impact Fee Table (Schedule) Identify Funding Sources 1 4 Calculate Transportation Service Area (TSA) rate 3 Estimate Project Costs 2 Identify Roadway and Intersection Projects Analyze Roadway Usage Pierce County Transportation Advisory Commission 30

31 What Are the TAC s Next Steps??? 1. Still Need Consensus on TIF Fee 2. How to Achieve this? 3. Is other information needed on the TIF? 4. and for the TAC there is life after TIF Pierce County Transportation Advisory Commission 31

32 A UNIVERSE OF OTHER TRANSPORTATION TOPICS A Hubble View of Starburst Galaxy Messier 94 Pierce County Transportation Advisory Commission 32

33 For Example: 1. Transportation Benefit District Recommendations 2. Nonmotorized/Active Transportation Recommendations 3. Tracking Pierce County Projects through the Transportation Improvement Projects (TIP) Pierce County Transportation Advisory Commission 33

34 Questions? Rory D. Grindley, P.E., PTOE (253) or Pierce County Transportation Advisory Commission 34