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Peer Exchanges  

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Presentations and Materials for Nevada/Utah Value Capture Techniques Peer Exchange

 

Federal Highway Administration (FHWA) EDC5: Value Capture

Dates: November 12-13, 2019

Exchange Host: Nevada DOT and Utah DOT

Exchange Location: Lloyd D. George Federal Courthouse, 333 South Las Vegas Boulevard, Las Vegas, NV 89101 Conference rooms 2 and 3

Length of Exchange: 1.5 days (starting on afternoon of day 1 and full day on day 2)

Objectives: This customized exchange provides an opportunity for Nevada and Utah to learn about value capture techniques that can be used to accelerate project delivery and reduce costs. The peer exchange offers a forum for leading states and locals from selected transportation officials to exchange ideas and best practices and identify common challenges and opportunities in major focus areas:

  • Incremental Growth Approaches: Tax Incremental Finance (TIF)/Tax Incremental Reinvestment Zones (TRIZ)/Transportation Reinvestment Zones (TRZ);
  • Special Assessment Districts (SAD), Sales Tax Districts (STD), and Community Improvement Districts;
  • Join Development and Air Rights. Funding and finance strategies for tomorrow’s city/county; and
  • Impact Fees: Regional Transportation Impact Fees.

Information on FHWA's EDC5 value capture effort can be found at: https://www.fhwa.dot.gov/innovation/everydaycounts/edc_5/value_capture.cfm.

Format:

  • Brief presentations by value capture implementers
  • Facilitated discussion among all participants with emphasis on hearing from participants what is most applicable for the Chicagoland region and what are some potential barriers

Format:

  • Brief presentations by value capture implementers
  • Facilitated discussion among all participants with emphasis on hearing from participants what is most applicable for the Chicagoland region and what are some potential barriers

Value Capture Presenters:

  • Rafael Aldrete, Senior Research Scientist, Texas A&M Transportation Institute (TTI)
  • Gary Carter, Broadband Manager, City of Santa Monica, CA
  • Julie Masterpool, P.E., Regional Transportation Commission (RTC), Washoe, NV
  • Joshua Switzky, Land Use and Community Planning Program Manager, San Francisco Planning Department

Moderator: Rick Rybeck, Director at Just Economics, LLC

Day 1:

Time Topic Lead Presenter

1:00 – 1:20 pm

Welcome from Hosts

  • Welcome message from NVDOT, and UDOT representatives
  • FHWA welcome EDC-5 Team (FHWA Division & VCIT)

FHWA Nevada Division

FHWA Utah Division

Thay Bishop, FHWA EDC5 Team lead

1:20 – 1:30 pm

Participant Introductions

Participants will introduce themselves and highlight an area of expertise and what experiences they want to draw from this peer exchange.

  

1:30 – 2:00 pm

Overview of value capture techniques and Nevada and Utah overview of peer exchanges objective and desired outcomes

Identification by participants of potential projects in Nevada and Utah that might consider value capture techniques.

Presentation:

  • Overview of Value Capture Techniques – Thay Bishop, CPA/CTP

Thay Bishop, FHWA
UDOT representative

NVDOT representative

2:00 – 3:00 pm

Value Capture Techniques and Facilitated Discussion

Presentation and overview of value capture techniques with a focus on techniques that are well suited to Nevada and Utah. Discussion from participants about their interests in value capture techniques.

Presentation:

  • Value Capture Concepts – Rick Rybeck

Rick Rybeck, SME

3:00 – 3:15 pm

Break

 

3:15 – 4:30 pm

Value Capture: Tax Increment Financing and Transportation Reinvestment Zones, and Business Improvement Districts

Transportation Reinvestment Zone Presentation & discussion about how these are not a “zero sum game” technique

  • Texas transportation reinvestment zone findings – urban and rural examples
  • TIF and TRZ experiences in Utah and Nevada
  • Business Improvement District examples

Presentations:

  • Value Capture: Tax Increment Financing and Transportation Reinvestment Zones – Rafael Aldrete, TTI
  • Value Capture: Tax Incremental Financing – Rick Rybeck

Rick Rybeck, SME

Rafael Aldrete, TTI

4:30 – 5:00 pm

Wrap up and charge for Day 2

 
 

End of day 1

 

Day 2:

Time Topic Lead Presenter

8:30 – 8:50 am

Welcome and Overview of the Day

Facilitator welcomes attendees, reviews the key take away from Day 1 and provides context for Day 2

Facilitator

8:50 – 9:45 am

Identification of projects in Nevada and Utah with potential value capture usages

Discussion of projects that may be suitable to incorporate value capture techniques and discussion with peers about potential and feasibility

  • US 50 Corridor improvements
  • I-80 Corridor inland port development potential
  • I-515 Air Rights Development

Nevada DOT representative

Utah DOT representative

9:45 – 10:45 am

Developer Contributions (Impact fees, negotiated exactions)

  • Washoe, NV Regional Road Impact Fee Program

Presentations:

  • Development Impact Fees & Exactions – Rick Rybeck
  • Regional Road Impact Fees – Julie Masterpool, RTC

Rick Rybeck, SME

Julie Masterpool, RTC

10:45 – 11:00 am

Break

 

11:00 am – 12:15 pm

Value Capture: Joint Development including use of telecommunications utility infrastructure

  • Redevelopment of Transbay Transit Center

Presentations:

  • Joint Development & Interface Fees – Rick Rybeck
  • Transbay Transit Center Area, Planning & Value Capture - Joshua Switzky, San Francisco Planning Department

Rick Rybeck, SME

Joshua Switzky, San Francisco Planning Department

12:15 – 1:00 pm

Lunch

 

1:00 – 3:00 pm

Value Capture: Joint Development continued

  • City of Santa Monica's 100 Gigabit Broadband Initiative, “Santa Monica City Net”
  • Capitol Crossing, Washington, DC joint development
  • Other examples from NV and/or UT

Presentations:

  • Santa Monica CityNet: Value Creation & Value Capture - Gary Carter, City of Santa Monica
  • The Washington DC I-395 Capital Crossing Project – Thay Bishop, FHWA

Rick Rybeck, SME

Gary Carter, City of Santa Monica

Thay Bishop, FHWA

3:00 – 3:15 pm

Break

 

3:15 – 4:15 pm

Discussion, Identification of Key Take Away, and Next Steps

  • Discussion of applicability, opportunities and barriers of value capture techniques identified
  • Discussion of other potential tools to use in conjunction with value capture
  • Next steps

Facilitator

Rick Rybeck, SME

4:15 – 4:30 pm

Wrap-up & Follow-up Actions

Facilitator

4:30 pm

Adjourn

 

Resources

Category Technique Definition

Developer Contributions

Impact Fees

Fees imposed on developers to help fund additional public services, infrastructure, or transportation facilities required due to the new development.

Negotiated Exactions

Negotiated charges imposed on developers to mitigate the cost of public services or infrastructure required as a result of the new development.

Transportation Utility Fees

Transportation Utility Fees

Fees paid by property owners or building occupants to a municipality based on estimated use of the transportation system.

Special Taxes and Fees

Special Assessment Districts

Fees charged on property owners within a designated district whose properties are the primary beneficiaries of an infrastructure improvement.

Business Improvement Districts

Fees or levies charged on businesses within a designated district to fund or finance projects or services within the district's boundaries.

Land Value Taxes

Split tax rates, where a higher tax rate is imposed on land than on buildings.

Sales Tax Districts

Additional sales taxes levied on all transactions or purchases in a designated area that benefits from an infrastructure improvement.

Tax Increment Financing

Tax Increment Financing

Charges that capture incremental property tax value increases from an investment in a designated district to fund or finance the investment.

Joint Development

At-grade Joint Development

Projects that occur within the existing development rights of a transportation project.

Above-grade Joint Development

Projects that involve the transfer of air rights, which are development rights above or below transportation infrastructure.

Utility Joint Development

Projects that take advantage of the synergies of broadband and other utilities with highway right-of-way.

Naming Rights

Naming Rights

A transaction that involves an agency selling the rights to name infrastructure to a private company.