Financing Mixed Use Development Place-Making Infrastructure<br />The Federal Perspective: Creating incentives and financin...
Who is LOCUS: Responsible Real Estate Developers and Investors<br />Prospects for Transportation Re-Authorization and TOD-...
LOCUS: About Us…<br />LOCUS, Latin for “place,” is a national coalition of real estate developers and investors who believ...
LOCUS: Steering Committee Members<br />Christopher B. Leinberger<br />President, LOCUS andPartner, Arcadia Land Company<br...
Who is LOCUS: Responsible Real Estate Developers and Investors<br />Prospects for Transportation Re-Authorization and TOD-...
LOCUS: Legislative Priorities<br />Increase overall transit funding through value capture<br />Incentivize transit-oriente...
LOCUS: 3-Prong Strategy for Transit Oriented Development <br />Flickr user:  starquake<br />
Value Capture and Transit<br />Photo Credit: Hawaii Government Archives<br />
Value Capture: How Will it Work?<br /><ul><li> Full Faith and Credit of USA
“1,000 Flowers Bloom” Approach
 Bring the Private Sector to the Table</li></ul>Photo by: Andrew Tucker<br />
Transit Oriented Development<br />Photo Credit: WaliMemon<br />
Transit Oriented Development: CHALLENGES?<br />According to a Reconnecting America study, demand for living near transit i...
TOD Planning Program : How Will it Work?<br /><ul><li>DOT Secretary award grants to eligible recipients to develop specifi...
Eligible recipients include transit agencies, units of local government, metropolitan planning organizations, tribal gover...
The total amount for program $40million.</li></li></ul><li>TOD Credit Enhancement: How Will it Work?<br /><ul><li>Modeled ...
Provide much needed “bridge financing” to advance new transit-oriented development projects by providing  TOD incentives s...
LOCUS: Key Players<br /><ul><li>House Transportation & Infrastructure Committee (T&I)
Senate Environment & Public Works Committee (EPW)
Senate Banking Committee (transit title only)
Senate Commerce Committee (Freight and Safety title only)</li></li></ul><li>LOCUS: Legislative Process…<br /> President’s ...
LOCUS: Possible Scenarios…<br />Flickr user:  starquake<br />
House Strategy: Value Capture + Credit Enhancement <br /><ul><li>$210-220B/$300* for 6 years
Streamline Project Delivery
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SSC2011_Christoper Coes PPT

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SSC2011_Christoper Coes PPT

  1. 1. Financing Mixed Use Development Place-Making Infrastructure<br />The Federal Perspective: Creating incentives and financing tools in the next Transportation Reauthorization <br />NHC Solutions for Sustainable CommunitiesSeptember 27, 2011 Washington, DC<br />
  2. 2. Who is LOCUS: Responsible Real Estate Developers and Investors<br />Prospects for Transportation Re-Authorization and TOD-Oriented Development<br />Question and Answers <br />
  3. 3. LOCUS: About Us…<br />LOCUS, Latin for “place,” is a national coalition of real estate developers and investors who believe transportation drives development and who advocate for sustainable, walkable development in our towns and cities.<br />LOCUS, in partnership with Smart Growth America, works to educate policymakers about the market demand for and the social and environmental benefits of walkable, sustainable development across the country.<br />
  4. 4. LOCUS: Steering Committee Members<br />Christopher B. Leinberger<br />President, LOCUS andPartner, Arcadia Land Company<br />Ed Lipkin<br />President, EBL&S Development <br />Albert Ratner<br />Chairman of the Board of Directors, Forest City Enterprises <br />Jonathan Rose<br />President, Jonathan Rose Companies<br />Marilyn Taylor<br />Dean, University of Pennsylvania School of Design <br />Brenna S. WalravenManaging Director, USAA Real Estate Company<br />Michael Lander<br />President, Lander Group<br />Richard BaronPresident,McCormack Baron Salazar <br />Catherine Crenshaw<br />President and CEO,Sloss Real Estate <br />Tom Darden<br />Managing Director,Cherokee Investment Partners <br />Robert Davis<br />Founder, Seaside andPartner, Arcadia Land Company <br />Bernie Glieberman<br />President,Crosswinds Communities <br />Pres Kabacoff<br />President,HRI Properties <br />
  5. 5. Who is LOCUS: Responsible Real Estate Developers and Investors<br />Prospects for Transportation Re-Authorization and TOD-Oriented Development<br />Questions and Answers<br />
  6. 6. LOCUS: Legislative Priorities<br />Increase overall transit funding through value capture<br />Incentivize transit-oriented development (TOD) through credit enhancement and tax incentives<br />Require strategic planning among metropolitan planning organizations (MPOs) and state Departments of Transportation (DOTs)<br />
  7. 7. LOCUS: 3-Prong Strategy for Transit Oriented Development <br />Flickr user: starquake<br />
  8. 8. Value Capture and Transit<br />Photo Credit: Hawaii Government Archives<br />
  9. 9. Value Capture: How Will it Work?<br /><ul><li> Full Faith and Credit of USA
  10. 10. “1,000 Flowers Bloom” Approach
  11. 11. Bring the Private Sector to the Table</li></ul>Photo by: Andrew Tucker<br />
  12. 12. Transit Oriented Development<br />Photo Credit: WaliMemon<br />
  13. 13. Transit Oriented Development: CHALLENGES?<br />According to a Reconnecting America study, demand for living near transit in walkable, mixed-use communities is projected to double over the next 20 years to 15.2 million households by 2030. <br /> <br />A recent Government Accountability Office reports notes: “Some project sponsors and experts believe federal loans, loan guarantees, or credit enhancements could help bridge a financing gap. <br />
  14. 14. TOD Planning Program : How Will it Work?<br /><ul><li>DOT Secretary award grants to eligible recipients to develop specific, implementable strategy for mixed-income, mixed-use development
  15. 15. Eligible recipients include transit agencies, units of local government, metropolitan planning organizations, tribal governments, and states, in partnership with other public or private agencies or organizations; and
  16. 16. The total amount for program $40million.</li></li></ul><li>TOD Credit Enhancement: How Will it Work?<br /><ul><li>Modeled after the Transportation Innovative Financing Infrastructure Act (TIFIA) program
  17. 17. Provide much needed “bridge financing” to advance new transit-oriented development projects by providing TOD incentives such as direct loans, loan guarantees, and tax credits</li></li></ul><li>TOD and Credit Enhancement: What is Eligible??<br />Eligible Improvements:<br />Property enhancement, including conducting environmental remediation, park development, and open space acquisition;<br />Improvement of mobility and parking, including rehabilitating, or providing for additional streets, transit stations, structured parking, walkways, and bikeways; or<br />Utility development, including rehabilitating existing, or providing for new drinking water, wastewater, electric, and gas utilities.<br />
  18. 18. LOCUS: Key Players<br /><ul><li>House Transportation & Infrastructure Committee (T&I)
  19. 19. Senate Environment & Public Works Committee (EPW)
  20. 20. Senate Banking Committee (transit title only)
  21. 21. Senate Commerce Committee (Freight and Safety title only)</li></li></ul><li>LOCUS: Legislative Process…<br /> President’s 2011 Proposal<br />February 2011<br />Draft House Proposal<br />June 2011<br /> Draft Senate Bill<br />May/June 2011<br />Final Transportation Bill<br />Oct-Dec 2011<br />
  22. 22. LOCUS: Possible Scenarios…<br />Flickr user: starquake<br />
  23. 23. House Strategy: Value Capture + Credit Enhancement <br /><ul><li>$210-220B/$300* for 6 years
  24. 24. Streamline Project Delivery
  25. 25. State Infrastructure Banks
  26. 26. Innovative Financing, includingsupporting value capture initiatives
  27. 27. Increased $ for TIFIA program and expands eligibility – potentially TOD credit enhancement </li></ul>Chairman John Mica (R-FL), House Transportation and Infrastructure Committee <br />Flickr user: starquake<br />
  28. 28. Senate EPW Strategy : Credit Enhancement<br /><ul><li>Safety
  29. 29. Asset Management
  30. 30. Freight
  31. 31. Metro Mobility
  32. 32. Increased funding for TIFIA – credit enhancement</li></ul>Chairman Barbara Bozer (D-CA), Senate Environment and Public Works Committee <br />
  33. 33. Senate Banking Strategy: Planning Grants + Credit Enhancement + Increased Transit Funding<br /><ul><li>Championed by Sens. Bennett, Warner, Hagan
  34. 34. Includes both Planning Grants and Credit Enhancement Program</li></ul>Chairman Tim Johnson (D-SD), Senate Banking Committee<br />
  35. 35. President Proposal: Major Supporter for TOD<br /><ul><li>$50B in addt’l funding for Transit
  36. 36. TOD is major criteria
  37. 37. Infrastructure Bank
  38. 38. “Roads, rails, runways”
  39. 39. Multi-year bill
  40. 40. “Reform” of programs
  41. 41. High Speed Rail key issue</li></ul>President Barack Obama<br />
  42. 42. LOCUS: We Need Your Voice<br />Key States:<br />Florida <br />Tennessee<br />New Jersey<br />Pennsylvania <br />Texas<br />Illinois<br />California<br />Montana<br />Delaware<br />Oklahoma<br />Louisiana<br />
  43. 43. LOCUS:CONGRESS NEEDS TO HEAR YOUR VOICE<br />Join us at smartgrowthamerica.org/locus<br />Christopher Coes <br />Managing Director, <br />LOCUS: Responsible Developers and Investors<br />ccoes@smartgrowthamerica.org<br />
  44. 44. Questions and Answers <br />
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