Peer Exchanges  

Value Capture Project Case Examples

Download as PDF

 

« Return to Presentations and Materials

Table 2: Value Capture Representative Project Case Examples.
  Project Description Project Funding Size (in Millions) LVC Category  
Mode Project Name State Location Year Complete Total VC Share Tax Increment Financing Special Taxes and Fees Developer Impact Fees Developer Exactions/ Contributions Joint Developments/ Entitlements Others Comments
Local Roads Lake Shannon Road Improvement MI Tyrone, Suburban 2018 $1 million $1 million (100%)            
East Fifth St Rehabilitation OR Newberg, Suburban 2018 $2 million $2 million (100%)   ✔ (Transportation Utility Fee)         For maintenance
Century Garden Community Development FL Miami-Dade County, Exurban 2019 $3 million $2 million (60%)            
Poplar Road Safety Improvements VA Stafford County, Suburban 2016 $4 million $2 million.3 (58%)            
The Cap at Union Station OH Columbus, Urban 2004 $8 million $8 million (100%)       ✔ (ROW Use Agreement)   Lease and profit sharing arrangement for ROW use
Hackberry Hidden Cove TX Hackberry, Suburban 2017 $11 million $100 million (100%)          
US Hwy 441/27 Utility Relocation FL Leesburg, Suburban 2010 $12 million $12 million (100%)            
Tallgrass Creek Project KS Overland Park, Suburban 2017 $12 million $15 million (100%)   ✔ (TDD)         Special assessments include bonds financing costs
Las Vegas Skye Canyon Phase 3 NV Las Vegas, Urban 2020 $68 million $68 million (100%)          
State Street Redevelopment IN W.Lafayette, Urban 2019 $123 million $123 million (100%)           Multimodal redevelopment w/ Purdue Univ.
BelRed Street Network WA Bellevue, Suburban 2022 $323 million $159 million (49%) ✔ (LID)   ✔ (Zoning Incentives) ✔ (Private Contribution) ROW private contributions
Osceola County Roadway & Bridge Bundling FL Osceola County, Suburban n.a. $350 million $350 million (100%)     ✔ (Mobility Fees)        
Capitol Crossing/ 3rd Street Tunnel DC Washington Urban 2022 $1 million,300 $1 million,300 (100%)         ✔ (ROW Use Agreement)   Purchased ROW above I-395; $270 million of $1.3 billion for local access improvements
Highways, Bridges & Interchanges Conroy Road Bridge FL Orlando, Exurban 2000 $28 million $23 million (82%) ✔ (LID)        
Route 33 Interchange PA Easton, Suburban 2015 $44 million $37 million (84%)     ✔ (Land & In-KindContribution)     Developer repays TIF obligations if development not timely and TIF revenues fall short
I-5 Fern Valley Interchange OR Phoenix, Suburban 2016 $72 million $7 million (10%)     ✔ (IDC/SDC)        
I-5 Woodburn Interchange OR Woodburn, Suburban 2015 $75 million $8 million (11%)     ✔ (Traffic Impact Fees/ IDC)        
Atlantic Station 17th Street Bridge GA Atlanta, Urban 2005 $76 million $76 million (100%) ✔ (TAD)       ✔ (Private Contribution)  
Route 36 Four Laning MO Hannibal to Macon, Suburban 2010 $76 million $34 million (45%)   ✔ (TDD, Sales Tax)          
Americas Interchange (Phase 1) TX El Paso, Suburban 2016 $141 million $30 million (21%) ✔ (TRZ)            
Eleventh Street Bridge Project (Phase 1) DC Washington Urban 2015 $309 million $4 million (1%)           ✔ (Private Contribution) CSX contribution for rail connection
King Coal Highway (Red Jacket Section) WV Southern WV 2011 $340 million $150 million (44%)       ✔ (In-Kind Contribution)   ✔ (Private Contribution) Private coal mining co. provided construction resulting in $150M million in cost savings in exchange for mineral rights
I-15 Express Lanes CA Riverside County, Suburban 2020 $461 million $208 million (45%)   ✔ (LOTT)         Measure A local options sales tax
Route 28 Corridor Improvements VA Fairfax & Loudoun Counties 2017 $488 million $433 million (89%)   ✔ (TID)          
US 36 Express Lanes (Phase 1&2) CO Denver Metro Area 2015 $520 million $142 million (27%)   ✔ (Sales Tax Dist; RTD)         Managed lanes, BRT
I-285/SR400 Interchange Reconstruction GA Fulton & DeKalb Counties, Urban mid-2020 $803 million $10 million(1%)   ✔ (CID)          
US 181 Harbor Bridge TX Corpus Cristi, Suburban 2021 $1,065 million $39 million(4%) ✔ (TRZ)            
SR-91 Corridor Improvement CA Riverside, Suburban 2017 $1,312 million $709 million(54%)   ✔ (Sales Tax Dist; Meas A)         Managed lanes
Loop 202 S. Mountain Freeway AZ Phoenix, Urban 2020 $1,837 million $1,138 million (62%)   ✔ (LOTT)         Half-cent local options sales tax
Chicago Region Env, & Transp Effciency (CREATE) Program IL Chicago, Urban Ongoing $1,900 million $375 million(20%)           ✔ (Private Contribution)  
I-405 Improvement CA Orange County, Exurban 2023 $1,908 million $1,145 million (60%)   ✔ (Sales Tax Dist; Meas M2)         Express lanes
Assist Patrol Program (State Fram Safety Patrol) OH Statewide Ongoing n.a. $9 million         ✔ (Naming Rights)   State Farm 22- truck fleet
Mass DOT Highway ROW Solar MA Statewide Ongoing n.a. $17 million(20 years)         ✔ (Solar Energy)   3rd party developer/owner; 2,500KW from 5 sites
I-96/M-44 Solar Canopy MI Grand Rapids. Suburban Ongoing n.a. Annual         ✔ (Solar Energy)   Direct ownership with $13,500 revenue annually; 100KW from single site
I-5 Highway Baldock Solar OR Wilsonville, Suburban Ongoing n.a. n.a.         ✔ (Solar Energy)   3rd party developer/owner; 1,750KW from single site
Toll Roads/ Highways Orchard Pond Parkway FL Tallahassee, Suburban 2016 $17 million n.a.       ✔ (Land Dedication)      
Poinciana FL Osceola & Polk Counties, Suburban 2016 $141 million $38 million(27%)           Developer contribution in ROW acquisition, plan/design, permit
Puerto Rico PR-22/ PR-5 Lease PR Northern PR 2011 (40 year lease) $1,436 million $1,080 million (lease proc.)           ✔ (Asset Recycling) VC from brownfield asset lease proceeds
San Joaquin Hills Toll Road CA Orange County, Suburban 1996 $1,456 million $31 million(2%)            
Chicago Skyway IL Chicago, Urban 2005 (99 year lease) $1,830 million $1,003 million (lease proc.)           ✔ (Asset Recycling) VC from brownfield asset lease proceeds; resale for $2.8B in 2016
Indiana Toll Road IN Northern Indiana 2006 (75 year lease) $3,800 million $3,800 million (lease proc.)           ✔ (Asset Recycling) VC from brownfield asset lease proceeds; resale for $5.7B in 2015
E-470 Toll Road Solar CO Statewide Ongoing n.a. $1 million(20 years)         ✔ (Solar Energy)   3rd party developer/owner; 710KW from 22 sites
Transit/ Multimodal South Lake Union Streetcar WA Seattle, Urban 2007 $54 million $25 million(47%)   ✔ (LID)          
NoMa-Gallaudet U Metrorail Station DC Washington Urban 2004 $104 million $35 million(34%)   ✔ (BID)   ✔ (Land Dedication)     Heavy rail infill station
Airport MAX Red Line OR Portland, Urban 2001 $126 million $52 million(41%) ✔ (URA)       ✔ (Joint Develop) ✔ (Private Contribution) 85-year rent free lease to private developer for 120- acre mixed use
Potomac Yard Metrorail Station VA Alexandria, Urban Ongoing $250 million $250 million(100%)       Heavy rail
Portland Streetcar OR Portland, Urban 2012 $251 million $56 million(22%) ✔ (LID)          
Reno Transportation Rail Access Corridor NV Reno, Suburban 2006 $280 million $17 million(6%)   ✔ (Sales Tax Dist)       ✔ (Private Contribution) Union Pacific contribution; hotel & sales taxes
Heartland Corridor KY,OH, VA, WV Various 2015 $354 million $144 million(41%)           ✔ (Private Contribution) Norfolk Southern contributions
CTA Blue Line IL Chicago, Urban 2019 $409 million $9 million(2%) ✔ (Sales Tax Dist)         Heavy rail modernization
Atlanta Belt Line GA Atlanta, Urban Ongoing $500 million $221 million(36%) ✔ (TAD)         ✔ (Private Contribution) Light rail, bikeway, pedestrian
Las Vegas Monorail NV Las Vegas, Urban 2004 $650 million n.a.           ✔ (Transportation Corporation) Non-profit 63-20 corporation
Dallas Area Rapid Transit (DART) TX Dallas, Urban 2014 $1,297 million $1,065 million (82%)   ✔ (Sales Tax Dist)         Orange Line Extension
Chicago Transit Authority IL Chicago, Urban 2018-2022 $1,421 million $678 million(48%) ✔ (Sales Tax Dist)         95th St Terminal Improvement, Blue Line, Rail Fleet Replacement Projects
Moynihan Train Hall NY NYC, Urban 2020 $1,850 million $230 million(12%)       ✔ (Joint Develop)   99-year lease to private developer for retail/office space
San Diego Association of Governments (SANDAG) CA San Diego, Urban 2021 $2,017 million $355 million(18%)   ✔ (Sales TaxDist)         Mid-Coast Corridor
Transbay Transit Center (Phase 1) (Salesforce Tower) CA San Francisco, Urban 2018 $2,260 million $290 million(13%)   ✔ (CFD, SalesTax Dist.)     ✔ (ROW Use Agreement, Naming Right)   Prop. K and Measure A sales taxes
Washington Metropolitan Area Transit Authority (WMATA) DC,MD, VA DC Metro Area 2004 $2,324 million $560 million(24%)   ✔ (Sales Tax Dist)         Washington Metro Capital Improvement Program
Denver Regional Transportation District (RTD) CO Denver, Urban 2014-2017 $2,531 million $193 million(8%)   ✔ (Sales Tax Dist for RTD)         Union Street, Eagle Project
Dulles Corridor Metrorail VA Northern VA 2019 $5,683 million $590 million(10%)   ✔ (LID)         Heavy rail
Sound Transit WA Seattle, Urban 2017-2021 $6,344 million $2,131 million (34%)   ✔ (Sales Tax Dist)         East & Northgate Link Extensions, O&M Facility East
LA Metro (LACMTA) CA Los Angeles Urban 2019-2025 $7,419 million $2,361 million (32%)   ✔ (Sales Tax Dist; Meas R & Prop A/C)         Crenshaw Transit Corridor, Purple Line Extension (Sections 1&2),
CTA Corporate Partnership IL Chicago, Urban Ongoing n.a. Various           ✔ (Corporate Sponsorship) Advertisement on CTA assets; Miller Coors
Atlantic Ave Barclay Center Station NY Brooklyn, Urban Ongoing n.a. $4 million         ✔ (Naming Right)   $200k/year for 20 years
South Lake Union Streetcar WA Seattle, Urban 2007 $54 million $25 million(47%)   ✔ (LID)          
Telecomm KentuckyWired KY Statewide Ongoing (30 Years) $412 n.a. ✔ (ROW Use Agreement) Utility easement agreements with multiple public and private parties

« Return to Presentations and Materials