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Transportation Funding Ohio Transportation Planning Conference

July 16, 2014

Department of Transportation & Engineering

Cincinnati’s Department of Transportation and Engineering’s mission is to provide a safe and balanced transportation system that supports neighborhood livability and economic vitality.

Clifton Madison

Cincinnati’s Transportation System Over $4 Billion in Total Replacement Value

Cincinnati’s Transportation System •940 miles of streets and roads ($3B)•65 City bridges (1.4M SF of deck area) ($350M)•26 County bridges (700K SF of deck area) ($180M)•1547 retaining walls (over 50 miles in total length) ($225M)•1730 miles of public sidewalks ($250M)•756 Traffic Signals ($45M)

Clifton Madison

Traditional Transportation Funding Sources

Federal & State Transportation GrantsShrinking Resources

• Surface Transportation Program (STP) • Congestion Mitigation/Air Quality (CMAQ)• Community Development Block Grants (CDBG) • Transportation Review Advisory Committee (TRAC)• Ohio Public Works Commission (OPWC)• Municipal Road Fund (MRF)• County Transportation Improvement Districts (TID)• County Engineers’ Association of Ohio (CEAO) • Economic Development Administration (EDA) Grants• JobsOhio 629 Grants

Federal & State Transportation LoansShrinking Resources

• Transportation Infrastructure Finance & Innovation Act (TIFIA)• State Infrastructure Bank (SIB) • Ohio Public Works Commission (OPWC) Loans

Non-traditional Transportation Funding

Sources

Local FundingShrinking Resources

• Tax Increment Financing (TIF) • Availability Payments• Special Assessment Districts• New Community Authority – Development Charges and

Development Bonds• Public/Private Partnerships (3P)

Federal & State Transportation Grants & LoansVery Competitive Funding Opportunities

• Transportation Investment Generating Economic Recovery (TIGER – Multiple Rounds)•Transportation Infrastructure Finance & Innovation Act (TIFIA – Ongoing) •Grant Anticipation Revenue Vehicles (GARVEE Bonds) •Build America Bonds (Financing cost savings – Program expired)

So how does that help?

LeverageMake a little money go further.

• Lay the groundwork to be competitive for grants when they come available.

• Aggressively pursue opportunities, but make certain your project qualifies well.

• Find other money to match federal money.

PartnershipsIt’s good to have friends.

• Seek out cost sharing opportunities both within and outside your organization. Look across the lines in your department, your municipality, and your neighbors.

• Ask other interested and associated parties to apply for

you (within the bounds of the law).

• Make your partners look good.

Western Hills Viaduct Replacement

Western Hills Viaduct ReplacementCost = $240 Million

Multiple Sources Several small sums can add up.

• You may never receive enough to fully fund a big project. Find as many complimentary grants and loans as possible and apply; just make sure your project is competitive and your time frames align.

• Be as patient as your project and the grant agencies can be.

• Don’t chase funds that are more trouble than they’re worth.

Kennedy Connector

Kennedy ConnectorMultiple funding sources.

Multiple Sources $ 12.0M STP (OKI) $ 16.6M Local$ 4.0M TIF$ 0.1M Ohio DOD $ 32.7M Total

Multiple ApproachesDifferent approaches can add up too.

• Sometimes it takes more than one approach and a combination of grants, loans, and local money.

• Sometimes it takes a different delivery approach. Faster can save money by delivering the project sooner, or financing the project less expensively.

Martin Luther King, Jr. InterchangeEconomic Development in Uptown

Uptown is home to:• Over 60,000 jobs (2nd to the CBD) • Over 70,000 residents,• Over 60,000 students at UC and

Cincinnati State• 7 major hospitals with 5 emergency

room facilities and the region’s only Level 1 Trauma Center, and

• Cincinnati Zoo and Botanical Gardens (1.2 million visitors annually)

Martin Luther King, Jr. InterchangeConstruct a new full interchange

• Design/Build Delivery

• Multiple Sources $ 63.8M TRAC $ 21.0M Local$ 6.4M Other –

State$ 1.7M Other – MPO$ 25.0M SIB Loan*

$117.9M Total

Questions?