NYC-WTC_000187725

NYC 9/11 Public Portal Document

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Purpose of the Handbook Determining the magnitude and incidence of land value or location rent which public transit generates is of obvious importance to developing stable and equitable long term financing sources for transit systems in the nation. In the MTA district, which ranks first overall and per capita in transit travel in the nation, some 11 million residents log 13 billion annual miles of travel on public transit. On an average business day, two million people are delivered to the Manhattan Central Business District by public transit. New York State and local governments bear the highest level of debt outstanding for public transit purposes and annually invest more than $100 per resident in the MTA system. In 1987, combined state and local governments expended $1.3 billion on public transit investment in the MTA district, or $110 per capita, and accumulated government debt in excess of $4.3 billion or $369 per capita for transit purposes. Twenty-eight (28) other major urban areas operate fixed route rail and bus systems in the nation. With the exception of Los Angeles, most are smaller urban concentrations of one to eight million inhabitants. Though all have less densely developed transit systems and business centers, their 80 million residents log 21 billion annual miles of travel on public transit. In 1987, the 28 urban areas and 23 respective states outlayed $2.6 billion on capital funding for public transit systems, or $32 per capita. Outstanding state and local government debt for public transit purposes amounted to $5.1 billion, or $63 per capita. Compared to the MTA district, the areas collectively account for an expanded share of capital spending and population, 67 percent of annual investment and 87 percent of all residents, compared to their share of accumulated debt (54 percent) and transit ridership (62 percent) on all public transit systems in the nation. This Handbook makes possible the application of research models establishing the relationship between transit access and land value benefits, measured in the nation’s most extensive public transit district, to an array of existing and potential transit financing opportunities for the MTA system and those of 28 other major public transit systems in the nation. It describes in detail the processes by which statistically reliable relationships were established and can be applied to a range of policy options, service characteristics, and density settings. It presents an approach to regional and station area modeling that can be replicated elsewhere by calibration with locally available data. Implementation is also discussed in terms of hardware and software requirements, training and support service needs.

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NYC-WTC_000187733