1. 2.

PARKANDRIDELOTSTUDYSubmittedby:

InAssociationWith:

TechnicalMemorandum#5FinancialAnalysisandManagement

OptionsAugust2014

ParkandRideLotStudy Pagei TechMemo#5:FinancialAnalysisandManagementOptions

TableofContents

1. Introduction...........................................................................................................................................12. ParkandRideLotDevelopment............................................................................................................22.1 DevelopmentOptions.....................................................................................................................22.2 DevelopmentScenarios..................................................................................................................52.3 DevelopmentAssumptions.............................................................................................................5

3. ParkandRideLotPotentialCosts..........................................................................................................73.1 CostComponentsandAssumptions...............................................................................................73.2 PotentialCosts................................................................................................................................9

4. PotentialFundingSourcesandManagementOptions........................................................................13

4.1 PotentialFundingSources............................................................................................................13

4.2 PotentialManagementOptions...................................................................................................20

AppendixA

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1. Introduction

The Coastal Region Metropolitan Planning Organization (CORE MPO) Transit Mobility Vision Plan(TMVP),completed in2011,presenteda regionalvision for transit in theSavannaharea. Oneof therecommendations in the TMVPwas the development of a parkandride lot program. This study isintendedtoadvancetheTMVPrecommendationsforparkandridelotsandsupportingtransitservicesinthegreaterSavannahregion,primarilyinBryan,Chatham,andEffinghamCounties.

ThisisthefifthTechnicalMemorandumpreparedaspartofthisregionalParkandRideLotStudy.Thepriortechnicalmemorandapresentedthestudysprojectmanagementplan(TechMemo#1),estimatesof regional transit service demand (TechMemo #2), a site evaluation of potential parkandride lotlocations (TechMemo #3) and a potential transit service plan to serve proposed parkandride lotlocations(TechMemo#4).

ThepurposeofTechnicalMemorandum#5 istopresentdevelopmentoptionsandestimatedcostsfortheproposedparkandridelotfacilities,aswellaspotentialfundingsourcesandmanagementoptionsforboththeparkandridelotsandtheproposedexpresstransitservicesidentifiedinthepriortechnicalmemoranda.

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2. ParkandRideLotDevelopment

Aspresented inthepriortechnicalmemorandaforthestudy,sevenrecommended locationsforparkandridelotswereadvancedforfurtherconsideration.TheselocationsarelistedbelowbycorridorandareidentifiedaseitheranexistingGeorgiaDepartmentofTransportation(GDOT)parkandridelotorapotentialnewparkandridelot.

NorthwestCorridor

I95andSR21(Existing) SR21SouthofRincon(New) SR17inGuyton(Existing)

WestCorridor

I16andUS280/SR30(Existing) US80andBloomingdaleRoad(New)

SouthCorridor

US17inthevicinityofWalmart(New) EitheratUS17&SR144orI95&SR144(New)

2.1 DevelopmentOptionsSeveraloptionsexist foradvancing theseparkandride locationsaspartof theregionalparkandridesystem.Optionsforbothexistingandnewparkandridelotsarediscussedinthissection.

ExistingGDOTParkandRideLots

Of thesevenparkandride lots recommended, threeareexistingdedicated lotsownedbyGDOT. Asnotedinapriortechnicalmemorandum,theseexistingparkandridelotsaresmall,rangingfrom20to35spaces.ThelotatI95andSR21iswellused,andwasobservedtobeoverutilizedwithadditionalvehiclesparkedillegally.Theothertwolotswereobservedtobeunderutilized.

ImprovementstoExistingLots

Eachof theseexisting lotswouldbenefit fromat least limited improvements toencourageusage. Aspreviouslynoted,all lotsare inneedofmajorrehabilitation includingpavingandrestripingofparkingspaces. The three lots have good access, but lack adequate directional signage,which could limitcommuter knowledge of lot locations and impact lot utilization. While these lots have lighting,observationsindicatethatadditionallightingisnecessarytoincreasetheappearanceofasafelocationtoparkavehicle.Landscapingandirrigationtoimprovetheappearanceandappealofthelot,aswellasamenities,suchasshelters,bikeracks,andtrashreceptacles,shouldalsobeadded.

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ExpansiontoAccommodateDemand

Should expansionofoneormoreof these lotsbeneeded to accommodate anticipated demand forparking spaces, there would be significant costs. Costs would include engineering, acquisition ofadjacentland,andconstructiontoexpandthelot.

NewParkandRideLots

Theremainingfourrecommendedlocationswouldrequiretheestablishmentofnewparkandridelots.Severaloptionsexistfortheimplementationoftheselots,asdescribedbelow.

PubliclyOwnedDedicatedLots

Dedicatedparkandridelotsarethosethatareplanned,designed,constructedandoperatedspecificallyto serveasparkand ride facilitieswhereusers can carpool,vanpool,or catchabus. Dedicated lotsrequire significantcapitalcostsand long implementation timeframes ifconstructionoccursonvacantland.

TheexistingGDOTparkandridelotsintheSavannahregionareexamplesofpubliclyowneddedicatedlots.ThedevelopmentofadditionalGDOTlotsisoneoptionavailabletotheregion.Alternatively,parkandride lotscouldbeownedanddevelopedby localgovernmentsortransitagencies. IntheAtlantaRegion,forexample,parkandridelotsareownedbyavarietyofagencies:GDOT,theGeorgiaRegionalTransportationAuthority (GRTA),theMetropolitanAtlantaRapidTransitAuthority (MARTA),and localgovernmentsoperatingtransitservices(e.g.,CobbCounty).

SharedUseLots

Acommontrendindevelopingparkandridelotsistheshareduseofexistingparkinglotsatcommercialestablishmentssuchasshoppingcenters,movietheaters,andotherbusinesses,churches,universities,orgovernment facilities. Thisoption involvesentering intoanagreementwithanexistingparking lotownertodedicatecertainspacesforparkandrideuse.Thesearrangementsgenerallyworkbestwhenthepeakparkingdemand for the landownerdoesnotcoincidewith thepeakparkandridedemand,suchasashoppingcenterwhoseusagepeaksonweekendsorachurchwhoseusagepeaksonSundays.

Theadvantagesofshareduseparkandride lotsaregenerallyshort implementation timeframessincetheinfrastructureisalreadyinplaceaswellaslowinitialcapitalcosts.Shareduseparkandridelotscanalsoprovideopportunitiestotestdemandforcarpool,vanpool,andtransitusepriortomakingmajorfinancial investments in new facilities. When colocatedwith retail sites, there is also potential forbenefittothepropertyowner,asparkandrideusersmayshoptherebeforeorafterwork.

Possible disadvantages of shared use parkandride lots are that there may be space or designlimitationsthataffectthenumberofparkingspacesorbusaccess. Conflicts inuseofthespacesmayalsoarise,particularlyduringpeakretailseasons.Additionally,itisgenerallybetternottobeatenant.Private landowners have been known to terminate agreements for shared use parking. For thesereasons,formalagreementsdelineatingleasetermsarehighlyencouraged.

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Typicalleaseagreementscontaincertainelements,including:

Leasefeesandpaymentterms, Timeperiodoftheagreementandminimumterminationnoticeperiods, Specificlocationoftheparkandrideandnumberofparkingspaces, Daysandtimesparkandrideuseispermitted, Useofpropertyandresponsibilityforspecificimprovementstobemade(e.g.,lighting,signage,

handicappedspaces,sidewalks,crosswalks,andshelters), Liabilityinsurance, Maintenanceresponsibilities,and Securityandcleaningresponsibilities.

Stakeholdercommitteemembersnotedthatifparkingspacesarereservedforparkandridepurposes,the local government may need to modify their zoning ordinance to allow for shared parking orotherwiseadjustsothedevelopmentwillbeincompliancewithlocalparkingrequirements.

Toensuresuitabilityofaleasedsiteforparkandridepurposes,theneedforminorimprovementsandfixtures is assumed. Improvements and fixtures may include items such as repaving, curbing,landscapingandirrigation,utilities,lighting,busshelters,bikeracks,signage,andtrashreceptacles.

DevelopmentAgreements

Newdedicatedparkandride lotsaremost likely tobedevelopedbypublicagencies. Theremaybe,however,circumstancesthatmakeprovisionofdedicatedparkandridelotsbyprivatepartiespossiblethrough the development approval process or publicprivate partnerships. Possible developmentapprovalmechanismsthatcouldresult intheprovisionof infrastructure improvementsbenefittingthepublic, suchasparkandride lots, includedevelopmentagreements,conditional zoning,developmentimpactfees,anddevelopmentsofregionalimpact.

AnexampleinGeorgiaistheparkandridelotinGwinnettCountyatI85andSugarloafParkway,whichservesseveralGwinnettCountyTransitexpressroutes.ThislotislocatedadjacenttotheDiscoverMillsMall (nowSugarloafMills) in thestate rightofwaynear the interchange. Designandconstructionoftheparkandridelotwerepaidforbythemalldeveloperasaconditionofzoning.

Alternatively,parkandridelotscouldbelocatedatsiteswherebothapublicagencyandaprivatepartyhaveinvestedinthecostsofacquiringanddevelopingthepropertyasapublicprivatepartnership.Thisapproach may work best in locations where the local government has a