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Economic Development 411 | 2016 | Infrastructure Fuels Growth

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View the presentation from Track 2 of ED411, "Infrastructure Fuels Growth: Rethinking Funding Solutions."

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Economic Development 411 | 2016 | Infrastructure Fuels Growth

  1. 1. #ED411 INFRASTRUCTURE FUELS GROWTH: RETHINKING FUNDING SOLUTIONS William Murdock, MORPC Executive Director
  2. 2. #ED411 MID-OHIO REGIONAL PLANNING COMMISSION Planning for the Future •Central Ohio •Mobility •Sustainability •Local Government
  3. 3. #ED411 MID-OHIO REGIONAL PLANNING COMMISSION MORPC Public & Government Affairs Transportation Systems & Funding Regional Data & Mapping Energy & Air Quality Planning & Environment
  4. 4. GROWING MARKET DEMAND FOR: Walkable neighborhoods More transportation choices More housing choices Mixed use environments Mixed age, mixed income communities
  5. 5. #ED411 METROPOLITAN PLANNING ORGANIZATION (MPO) AREA Metropolitan Transportation Plan Transportation Improvement Program Planning Work Program
  6. 6. #ED411 METROPOLITAN PLANNING ORGANIZATION Planning Work Program (PWP) Metropolitan Transportation Plan (MTP) Transportation Improvement Program (TIP) • Rickenbacker Area Transportation Plan • SR-161 Traffic Study • I-270 & US-33 NW Freeway Study •Traffic Counts, Modeling, Development Inquiries • 20 Year Horizon (Plan) • Seeking Federal or State Funding • Major Investments • 4 Year Horizon (Implementation) • Seeking Federal or State Funding • $35 Million Attributable Funding • $26 Million OPWC Funding (District 3) • Other Local, State & Federal Resources
  7. 7. #ED411 Document and interactive map at: www.morpc.org/ mtp2040
  8. 8. #ED411 MORPC-ATTRIBUTABLE FUNDS  Federal Transportation Funding solicitation every two years  Estimated $40 to $50 million available for new projects through 2023 (mostly 2022 & 2023)  Timeline • July 1: Screening Applications for new funding due • Mid-July: Staff provides feedback to applicants and revised forecast of available funding • August 15: Final Applications due • September - November: Review and score applications and recommends funding commitments • December : Draft list of funding commitments available for public review and comment • March 2017: Adopt list of attributable funding commitments
  9. 9. #ED411 RURAL TRANSPORTATION PLANNING ORGANIZATION (RTPO)  Federal & State Recognized - Voluntary  ODOT Two Year Pilot Program  Regional to Rural  Coordinated Transportation Planning between stakeholders, Ohio MPOs & ODOT  Five Initial Organizations in Pilot Program, Covering 34 Non-MPO Counties
  10. 10. #ED411 • Partnership of MORPC and Columbus 2020 • Develops and maintains a list of vetted infrastructure projects for the benefit of economic and community development • Advances local priority projects through technical assistance for MORPC members • Links economic development and infrastructure investment COMPETITIVE ADVANTAGE PROJECTS ADVANCING INFRASTRUCTURE PRIORITIES FOR CENTRAL OHIO’S ECONOMIC GROWTH
  11. 11. #ED411 COMPETITIVE ADVANTAGE PROJECTS • County working groups will be asked to identify top local priority projects • Projects types include transportation, water & sewer, fiber & smart tech, energy systems, and infrastructure planning • MORPC is currently engaging counties to invite their participation and launch the first round • Goal to identify top local priority projects by Spring 2017
  12. 12. #ED411 William Murdock, Executive Director Mid-Ohio Regional Planning Commission www.morpc.org wmurdock@morpc.org
  13. 13. #ED411 INFRASTRUCTURE FUELS GROWTH AT BRIDGE PARK Nelson Yoder, Principal – Crawford Hoying Development
  14. 14. #ED411
  15. 15. #ED411
  16. 16. #ED411 BRIDGE PARK: WHERE IS IT?
  17. 17. #ED411
  18. 18. #ED411
  19. 19. #ED411 THE OBJECTIVE  Create a Walkable, Dense, Vibrant Mixed Use District in Dublin.  Why? Keep Dublin relevant amidst changes in workplace and housing preferences.
  20. 20. #ED411 WORKING IN OUR FAVOR…  Bridge Street District planned since 2009.  Thoroughfare Plan and Zoning Overlay in place.  CIP funding earmarked for 33/161 Roundabout.  City planned iconic pedestrian bridge and park.
  21. 21. #ED411 FUELING GROWTH POTENTIAL:  Infrastructure plans made public.  CH took a risk to acquire land near those improvements.  Infrastructure triggered potential for growth.
  22. 22. #ED411 MAJOR CHALLENGES  Needed streets, sewers, electric, gas, & telecom.  In 2016: density = structured parking = $$$.  Massive construction cost inflation.  Projected market rents incapable of supporting infrastructure costs.
  23. 23. #ED411 OPTIONS FOR THE SITE 1 - No redevelopment: status quo. 2 – Surface Parked Suburban Apartments & Retail. 3 - PPP to fund infrastructure & maximize growth.
  24. 24. #ED411 INVESTING IN THE FUTURE  Critical Leap of Faith for Municipalities & Taxing Agencies: City, County, and School Board!  Sacrifice small short term gain for huge long term gain: Maximize production of key areas.
  25. 25. #ED411 AVAILABLE REVENUE SOURCES  Brand New Revenue only available with PPP:  Increased Real Estate Taxes  New Bed Tax  New Sales Tax  New Payroll Tax (permanent and construction-related)
  26. 26. #ED411 BRIDGE PARK REVENUE  Harnessing Revenue at Bridge Park:  New Community Authority (NCA)  Bed Taxes, Sales Tax potential, PILOTS + Tax Abatements  Tax Increment Financing
  27. 27. #ED411 SHARING THE LOAD  City Issued Bonds for:  1,600 Parking Spaces  First Phase Streets  Developer Issued Bonds for:  2,400+ Parking Spaces  500 - 1,000 Seat “Exchange” Conference Facility  All latter-phase streets  CFCFA a key partner
  28. 28. #ED411 COST SAVINGS MEASURES  Cost Savings Measures employed at BP:  Capital Lease Structure through CFCFA  Low Interest Loan through OWDA for storm water measures
  29. 29. #ED411 PPP’S LIKE BRIDGE PARK WORK  When Public & Private partners are willing to be:  Creative  Flexible  Patient
  30. 30. #ED411 www.crawfordhoying.com
  31. 31. #ED411 INFRASTRUCTURE FUELS GROWTH: RETHINKING FUNDING SOLUTIONS THE GEMINI PARKWAY EXTENSION Chris Bauserman, PE/PS Delaware County Engineer Thomas Slack, PE Ohio DOT, D6 Planning and Engineering Administrator
  32. 32. #ED411 DELAWARE COUNTY  Rapid Population Growth  Transportation Infrastructure Challenges  Congestion/Capacity  Safety  Condition  Major Transportation Investment  Sales Tax  State and Federal Grants  Public/Private Partnerships
  33. 33. #ED411 ODOT DISTRICT SIX Mission Statement To provide easy movement of people and goods from place to place, we will:  Take care of what we have  Make our system work better  Improve safety  Enhance capacity
  34. 34. #ED411 GEMINI EXTENSION PROJECT
  35. 35. #ED411 COMPANION PROJECTS A - New IKEA Store - Opens 2017 B - Powell Road widening and Bale Kenyon Intersection - $2.2M cost - Opens spring 2017 C - Worthington Road Widening - 5-lane widening to Africa Road - Bridge Replacement - $6.0M cost - Opened October 2016
  36. 36. #ED411 FUNDING PARTNERS Development & connection to the northeast Safety & congestion along I-71 at exit Development & congestion on Polaris Parkway Regional transportation needs Connection to other projects in the area Site development and pending users Participation was driven by a variety of factors:
  37. 37. #ED411 IKEA – THE CATALYST
  38. 38. #ED411 FUNDING PLAN
  39. 39. #ED411 FUNDING PLAN $3.8 Million for Engineering and Construction $4.5 Million for Inspection and Construction $4 Million for Right of Way and Construction $1.2 Million for Construction $.5 Million for Construction Property donation for Right of Way and Engineering
  40. 40. #ED411 PROJECT DELIVERY Accelerated Schedule:  Property Donation  Property Acquisition  Funding Availability  Coordinate with Site Development  Design – Build  One Season Construction
  41. 41. #ED411 RESULTS  125+/- acres opened for commercial development  Traffic relief to Polaris Parkway east of I-71  Improved access to the Polaris Gemini Interchange
  42. 42. #ED411 WHAT’S NEXT? A. S Old State Rd. Widening B. Powell Rd. Widening C. Polaris Parkway Widening D. Worthington/Africa Intersection E. Big Walnut Interchange A C B D E
  43. 43. #ED411 www.co.delaware.oh.us/engineer www.transportation.ohio.gov/dist6 www.OHGO.com
  44. 44. #ED411 Please join us for lunch to hear from keynote speaker Alec Ross, Author & Distinguished Visiting Fellow at Johns Hopkins University. Alec Ross is one of America’s leading experts on innovation. He is the author of The New York Times bestseller "The Industries of the Future," speaks to audiences around the world about the future of our economy and society, and helps entrepreneurs, investors and government leaders navigate disruptive change. Lunch beings at 11:45am in the Archie M. Griffin Grand Ballroom.

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