financing tod: understanding opportunities and overcoming risks · 2017-12-28 · financing tod:...
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Financing TOD: Understanding Opportunities and
Overcoming Risks
Matt Sibul UTA, Chief Planning Officer
Christina Oliver UTA, TOD Department Manager
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Current System with 2015 Program
Additional Transit Investment of RTP
Transit Oriented Development
Congestion Pricing
Robust Pedestrian and Bike Program
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Goal: Identify and Overcome Financial Barriers to TOD
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Process:
• Step One: Gather Stakeholder Feedback
• Step Two: Site Specific Research and Business Plan Creation
• Step Three: Implement Business Plan
• Step Four: Disseminate Lessons Learned and Apply Region-wide
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Step One: Gather Stakeholder Feedback
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Step One: Gather Stakeholder Feedback
• “Incentives for TOD need to be clearly defined”
• “Market demand for TOD in Utah has not been proven”
• “Lenders are skeptical about TOD”
• “There are too many TOD sites emerging for this market to support”
• “Title entanglements are cost prohibitive”
• “Gap financing is tough to come by…”
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Step One: Gather Stakeholder Feedback
• “Money is out there, site risks along transit corridors are the biggest barriers”
• NIMBYism
• Unaddressed environmental concerns
• Parking replacement ratios
• Lack of funding sources for the NRG’s
• Planning and zoning issues…say no more
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Step One: Gather Stakeholder Feedback
• “Money is out there, site risks along transit corridors are the biggest barriers”
• NIMBYism
• Unaddressed environmental concerns
• Parking replacement ratios
• Lack of funding sources for the NRG’s
• Planning and zoning issues…say no more
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Step Two: Site Specific Research and Business Plan Creation
• Deep dive at each site to indentify top barriers
• Develop mitigation plan for each barrier
• Create a market based business plan
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Step Three: Implement Business Plan
• Initial steps to implementation started as appropriate
• City remains in the driver seat
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Step Four: Disseminate Lessons Learned and Apply Region-wide
• Host regional workshops that provide open forums for discussion about lessons learned
• Provide education on tools available and suggestions for site specific implementation
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Visioning/ET Plus
Market Study
Environmental Mitigation Plan
Land Assemblage
Gap Financing
TOD PROJECT
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Step Four (cont.): Regional Thinking
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Step Four (cont.): Regional Thinking
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Step Four (cont.): Regional Thinking
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Step Four (cont.): Regional Thinking
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What can you do to help?
• Provide guidance
• Be a resource
• Be an advocate
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How can you get or stay involved?
• Drop your business card off at the door before you leave and we will email you opportunities for involvement.
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Questions for the audience:
• Does this program as outlined make sense?
• What are we doing well?
• What are we missing?
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Thank You
Matt Sibul UTA, Chief Planning Officer
Christina Oliver UTA, TOD Department Manager
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Open Q & A
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