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Reston Funding Plan: Potential Cost Allocations

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Reston Funding Plan: Potential Cost Allocations

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Reston Funding Plan: Potential Cost Allocations

  1. 1. County of Fairfax, Virginia Reston Funding Plan Potential Cost Allocations Reston Network Analysis & Funding Plan Advisory Group February 22, 2016 Janet Nguyen Fairfax County Department of Transportation
  2. 2. County of Fairfax, Virginia Reston Funding Plan Projects 1. Reston Phase I Improvements (non-grid) – Road transportation improvements1 (Overpasses, Underpass, Interchange, Widenings, Extensions) to enhance connectivity – Intersection improvements required for adequate traffic operations 1. Grid of local streets in Reston TSA areas – Enhance pedestrian and vehicular circulation in, around, and through, station areas Department of Transportation 2 1 All roadways will be designed with pedestrian facilities. Many will also have bike facilities.
  3. 3. County of Fairfax, Virginia Reston Funding Plan Projects Department of Transportation 3 1 All roadways will be designed with pedestrian facilities. Many will also have bike facilities. 2 Signal costs updated. Projects Recommended by Reston Phase I Comprehensive Plan Amendment Cost Estimate, $Billion Reston Phase I Projects (non-grid) • Road transportation improvements1 (Overpasses, Underpasses, Widenings, Extensions, Interchanges) $1.280 • Intersection improvements $0.065 Total Reston Phase I Projects (non-grid) $1.345 Grid Network2 $1.244 Funding Plan Total $2.589B
  4. 4. County of Fairfax, Virginia Cost Allocation Models • Option 1: Tysons Cost Allocation Model Applied to Reston • Option 2: Location – Outside or Inside Reston TSAs • Option 3: Through/Local Ratios • Option 4: Location and Through/Local Ratios • Option 5: Project Category • Option 6: Regional vs. Local Significance Department of Transportation 4
  5. 5. County of Fairfax, Virginia Option 1: Tysons Cost Allocation Model Applied to Reston Department of Transportation 5 Projects Outside Reston TSAs Projects Outside Reston TSAs Projects Inside Reston TSAs Projects Inside Reston TSAs
  6. 6. County of Fairfax, Virginia Option 1: Tysons Cost Allocation Model Applied to Reston Department of Transportation 6 Applies the Tysons Cost Allocation Model to the Reston Funding Plan. Reston Phase I Outside of the Reston TSAs would primarily be a public responsibility. These are projects and portions of projects that are outside of the Reston Transit Station Areas (TSA) (Herndon, Reston Town Center, and Wiehle Reston East defined in the Reston Phase I Comprehensive Plan Amendment, Approved February 11, 2014) Reston Phase I Inside of the Reston TSAs would primarily be a private sector responsibility. These are projects and portions of projects inside the Reston TSAs. The grid is inside the Reston TSAs and would be a private sector responsibility. Project Estimate Allocation ($) Reston Phase I Outside TSAs $421,000,000 Public Share 90% $378,900,000 Private Share 10% $42,100,000 Reston Phase I Inside TSAs $924,000,000 Public Share 10% $92,400,000 Private Share 90% $831,600,000 Grid $1,244,000,000 Public Share 0% $0 Private Share 100% $1,244,000,000 Total $2,589,000,000 Public Share 18% $471,300,000 Private Share 82% $2,117,700,000 Option 1: Tysons Cost Allocation Model Applied to Reston
  7. 7. County of Fairfax, Virginia Option 2: Location – Outside or Inside Reston TSAs Department of Transportation 7 Allocates cost responsibility based on location of improvements. Reston Phase I improvements outside of the Reston TSAs would be a public responsibility. Reston Phase I improvements located inside of the Reston TSAs would be a private sector responsibility. The grid network would be a private sector responsibility. Project Estimate Allocation ($) Reston Phase I Outside TSAs $421,000,000 Public Share 100% $421,000,000 Private Share 0% $0 Reston Phase I Inside TSAs $924,000,000 Public Share 0% $0 Private Share 100% $924,000,000 Grid $1,244,000,000 Public Share 0% $0 Private Share 100% $1,244,000,000 Total $2,589,000,000 Public Share 16% $421,000,000 Private Share 84% $2,168,000,000 Option 2: Location – Outside or Inside Reston TSAs
  8. 8. County of Fairfax, Virginia Option 3: Through/Local Ratios Department of Transportation 8 Allocates cost responsibility based on the ratio of through and local traffic volumes. Through Traffic: 35% Local Traffic: 65% Public sector responsibility: Through traffic (35%) and half of locally generated traffic (32.5%). Private sector responsibility: Half of locally generated traffic (32.5%) and the grid network. Project Estimate Allocation ($) Reston Phase I $1,345,000,000 Public Share (% Through) 35% $470,750,000 Public Share (% Local) 32.5% $437,125,000 Private Share (% Local) 32.5% $437,125,000 Grid $1,244,000,000 Public Share 0% $0 Private Share 100% $1,244,000,000 Total $2,589,000,000 Public Share 35% $907,875,000 Private Share 65% $1,681,125,000 Option 3: Through/Local Ratios
  9. 9. County of Fairfax, Virginia Option 4: Location and Through/Local Ratios Department of Transportation 9 Incorporates location and through/local ratios. Reston Phase I Projects Outside of Reston TSAs: public sector responsibility Reston Phase I Projects Inside of the Reston TSAs: shared public and private sector responsibility based on through/local traffic ratios. Grid network: private sector responsibility. Project Estimate Allocation ($) Reston Phase I Outside TSAs $421,000,000 Public Share 100% $421,000,000 Private Share 0% $0 Reston Phase I Inside TSAs $924,000,000 Public Share (% Through) 35% $323,400,000 Public Share (% Local) 32.5% $300,300,000 Private Share (% Local) 32.5% $300,300,000 Grid $1,244,000,000 Public Share 0% $0 Private Share 100% $1,244,000,000 Total $2,589,000,000 Public Share 40% $1,044,700,000 Private Share 60% $1,544,300,000 Option 4: Location and Through/Local Ratios
  10. 10. County of Fairfax, Virginia Option 5: Project Category Department of Transportation 10 Allocates costs on the basis of project type. Reston Phase I Roadway projects would be a public sector responsibility. Reston Phase I Intersection projects and the grid network would be the responsibility of the private sector. Project Estimate Allocation ($) Reston Phase I Roadways $1,280,000,000 Public Share 100% $1,280,000,000 Private Share 0% $0 Reston Phase I Intersections $65,000,000 Public Share 0% $0 Private Share 100% $65,000,000 Grid $1,244,000,000 Public Share 0% $0 Private Share 100% $1,244,000,000 Total $2,589,000,000 Public Share 49% $1,280,000,000 Private Share 51% $1,309,000,000 Option 5: Project Category
  11. 11. County of Fairfax, Virginia Option 6: Regional vs. Local Significance Department of Transportation 11 Cost allocation based on Regional or Local benefit and significance. Regional projects such as the overpasses, underpass, and interchange: public sector responsibility. Local projects and grid: private sector responsibility. Project Estimate Allocation ($) Reston Phase I Regional $980,000,000 Public Share 100% $980,000,000 Private Share 0% $0 Reston Phase I Local $365,000,000 Public Share 0% $0 Private Share 100% $365,000,000 Grid $1,244,000,000 Public Share 0% $0 Private Share 100% $1,244,000,000 Total $2,589,000,000 Public Share 38% $980,000,000 Private Share 62% $1,609,000,000 Option 6: Regional vs. Local Significance
  12. 12. County of Fairfax, Virginia Cost Allocation Options • Discussion Department of Transportation 12
  13. 13. County of Fairfax, Virginia Grid Contributions Department of Transportation 13
  14. 14. County of Fairfax, Virginia In-Kind and Road Fund Contributions Portions of the grid are expected to be constructed with redevelopment (in-kind contributions) in the following areas: •Transit Station Mixed Use •Residential Mixed Use •Town Center North Mixed Use The remaining portion of the grid is expected to be constructed with contributions to a road fund. Department of Transportation 14
  15. 15. County of Fairfax, Virginia Department of Transportation 15 Reston Phase I Plan Amendment: Conceptual Land Use
  16. 16. County of Fairfax, Virginia Potential Grid Contributions Department of Transportation 16 Potential Grid Contributions Grid estimate $1,244,000,000 Less: Expected in-kind contributions - 805,000,000 Road fund contributions required for grid $439,000,000
  17. 17. County of Fairfax, Virginia Road Fund • Road fund revenues will be based on new residential and commercial development. • Developers will pay into road fund as redevelopment occurs. • Commercial rates are paid on a per square foot basis. • Residential rates are paid on a per dwelling unit basis. • When developing rates, the expected rate of development, type of development and the balance between near future and far future should be taken into account. Department of Transportation 17
  18. 18. County of Fairfax, Virginia Development Levels Department of Transportation 18 Reston TSA Comprehensive Plan Development Potential Land Use 2010 Existing Land Use Development Potential New Development (sq. ft.) (sq. ft.) Residential 5,860,000 (5,860 Units) 52,800,000 (44,000 units) 46,940,000 (38,140 Units) Office 20,982,169 29,700,000 8,717,831 Retail 1,094,476 2,100,000 1,005,524 Industrial 841,957 590,000 -251,957 Institutional 2,096,840 2,400,000 303,160 Hotel 936,782 4,900,000 3,963,218 Total 31,812,224 92,490,000 60,677,776 Total new non- residential potential: 13,737,776 sq. ft. Total new residential potential
  19. 19. County of Fairfax, Virginia Contribution Rates Board of Supervisors approved rate changes on February 2, 2016. Department of Transportation 19 Fund Area Non-Residential Rate per Sq. Ft. Residential Rate per Dwelling Unit Fairfax Center $5.94 $1,316 Centreville $6.38 $2,522 Tysons (Rezonings Prior to 2/1/2013) $4.37 $970 Tysons-Wide $5.90 $1,045 Tysons Grid of Streets $6.73 $1,045
  20. 20. County of Fairfax, Virginia Private Sector Responsibility in the Tysons Funding Plan Department of Transportation 20
  21. 21. County of Fairfax, Virginia Tysons Private Sector Contributions In-Kind Contributions 1. Tysons Grid of Streets In-Kind Contributions, $561 million Fund(s) Contributions 1. Tysons Grid of Streets Fund*, $304 million • Non-residential rate: $6.73 per sq. ft. • Residential rate: $1,045 per dwelling unit 1. Tysons-Wide Fund*, $253 million (Tysons-Wide Improvements) • Non-residential rate: $5.90 per sq. ft. • Residential rate: $1,045 per dwelling unit 1. Tysons Service District, $253 million (Tysons-Wide Improvements) • FY 2016 Rate: $0.06 per $100 assessed value on all properties in service district *Tysons Grid of Streets Fund and Tysons-Wide Fund rates effective Feb. 3, 2016. Department of Transportation 21
  22. 22. County of Fairfax, Virginia Next Steps • Seek advisory group feedback on cost allocation options and initial thoughts on development of contribution rates • Develop framework for funding plan • Outreach to stakeholders and public • Revise plan based on feedback received and results from Network Analysis • Share proposed funding plan with Board Transportation Committee • Seek Board of Supervisors approval Department of Transportation 22
  23. 23. County of Fairfax, Virginia Comments/Questions? Department of Transportation 23
  24. 24. County of Fairfax, Virginia Contact Information For questions and comments please contact: Janet Nguyen Janet.Nguyen@fairfaxcounty.gov Ray Johnson Carroll.Johnson@fairfaxcounty.gov

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