FEC Prospectus Board 102811 v2

FAST START PLAN
AN SFRTA PROPOSAL FOR REINTRODUCTION OF PASSENGER RAIL SERVICE IN THE FEC CORRIDOR
South Florida Regional Transportation Authority
10/31/2011 SFRTA October 2011 Board
PRESENTATION OVERVIEW
1. 2. 3. 4. 5.
6. 7. 8.
9.
Overview Background Passenger Rail in South Florida SFRTA South Florida East Coast Corridor Study & Draft Locally Preferred Alternative (LPA) FDOT & FEC 2011 Proposal SFRTAs Fast Start Plan Comparison of FDOT &FEC 2011 Proposal and SFRTA Fast Start Plan Summary
2
10/31/2011
1. OVERVIEW
In August of 2011, FDOT made public their plans for a partnership with FEC to bring initial rail service to the FEC corridor and take over Tri -Rail operations SFRTA has prepared this prospectus for SFRTAs Fast Start Plan, which provides a superior and more cost effective approach to the reintroduction of Passenger Rail Service on the FEC corridor.
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2. BACKGROUND
Reintroduction of Passenger Rail Service to the Florida East Coast (FEC) rail corridor has been discussed for decades
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FLORIDA EAST COAST RAIL CORRIDOR (FEC)

In the 80s, FDOT had considered operating the Tri-Rail on the FEC corridor, but FEC was not a willing partner at that time
In 2002, SFRTA initiated planning efforts to expand service to the FEC corridor At FECs request, FDOT partnered with SFRTA to comprehensively study the FEC corridor from Miami to Jupiter
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Tri-Rail
FEC Corridor
3. PASSENGER RAIL IN SOUTH FLORIDA

Founded in 1989, Tri Rail is the nations first New Start commuter railroad.
Twelve other cities in the U.S. have followed Tri Rails lead with their own New Start commuter railroads Today, Tri Rail Averages 14,000 daily boardings Operates 50 weekday and 16 weekend trains Serves 18 stations over a 71 mile route Provides 85+% on-time performance
Among the New Starts, only Los Angeles serves more passengers
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3. PASSENGER RAIL IN SOUTH FLORIDA

Among the 22 active US commuter railroads Tri -Rail is an outstanding performer
High Fleet Productivity (2 nd in nation )
Efficient use of a small fleet
High Route Productivity (7 th in nation )

Few unproductive route miles
High Station Productivity (7 th in nation )

Relatively few low ridership stations
High Ridership (10 th in nation )

Among the more popular commuter railroads
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4. SFRTA A COMMUTER RAIL INNOVATOR

SFRTA manages Tri-Rail service operated by a network of competitively bid private contractors specializing in:
Railroad Operations Shuttle Bus Operations Rolling Stock Maintenance Service Delivery
Customer Service Engineering Operations Station Agents Ticket Sales
Security Station Maintenance Revenue Collection Systems Executive

Administration Board Support Legal
Contract Oversight
Accounting & Finance Legal Marketing Planning and Capital Development Procurement
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4. SFRTA PRIVATIZED SERVICE DELIVERY

SFRTA is the most privatized Commuter Rail provider in the US
Operations
Contractor SFRTA
Capital
Contractor SFRTA 3%
19% *
81%
Fiscal Year 2010
97%
* 19% SFRTA includes 9% direct service delivery and 10% administrative costs
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4. SFRTA HIGHLY EFFICIENT SERVICE DELIVERY

91 Cents of Every Dollar Spent on Service Delivery
91%
Independent Analysis by AECOM Fall 2011
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Service Delivery Administration
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4. SFRTA COST STRUCTURE COMPARES FAVORABLY TO INDUSTRY

70%
60%
50% 40% 30% 20% 10% 0%
National Transit Database Categories *
Industry LOW SFRTA Industry AVE Industry HIGH
Vehicle Operations
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Vehicle Maintenance
Non-Vehicle Administration Maintenance

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* Based upon latest available NTD Report: 2009
5. SOUTH FLORIDA EAST COAST CORRIDOR STUDY

Phase 1 (2005-2007)
Freight assessment, mapped constraints and market opportunities, conceptual alternatives
Phase 2 (2008-2010)
Detailed definition of alternatives Recommended a complex and intense network of four interconnected services KEY PRODUCT: DRAFT Locally Preferred Alternative (LPA)
Phase 3 (2011-Present)
Revising master plan, forecasts and implementation plans Federal environmental permits Finance Alternatives
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Indiantown Road Toney Penna Drive
LPA: INTEGRATED
Modified Tri-Rail Service
SEABOARD FLYER 60 Minute Peak/120 Min. Off-Peak 12 weekday trains 19 stations, 71 miles, 35 mph FLAGLER FLYER 15 Minute Peak/30 Minute Off-Peak 96 weekday trains 41/27 stations, 84 miles, 28-40 mph
AIRPORT FLYER 15 Minute Peak/30 Min. Off-Peak 96 weekday trains 11 stations, 35 miles, 31 mph
PGA Boulevard Northlake Boulevard Northwoods 23-25 Street Mangonia Park (Closed) West Palm Beach
13th Street 45th Street West Palm Beach Govt Center Okeechobee Boulevard Belvedere Road Forest Hill Boulevard Lake Lucerne Lantana Road Boynton Beach Boulevard Woolbright Road (SE 15th) Atlantic Ave Linton Boulevard NW 51st Street NW 20th Street Palmetto Park Road Hillsboro Boulevard Sample Road Pompano Transfer
Lake Worth Boynton Beach Delray Beach Boca Raton Deerfield Beach Pompano Beach
Cypress Creek
Atlantic Boulevard Commercial Road NE 38th Street NE 26th Street Sunrise Sistrunk Fort Lauderdale Govt Center SE 17th Street Fort Lauderdale Terminal Dania Beach Boulevard Sheridan Boulevard Hollywood Boulevard Pembroke Road SE 5th Street 193 203 Street 163rd Street 125th Street 79th Street 54th Street 36th Street NW 11th Street Miami Govt Center
Fort Lauderdale Fort Lauderdale Airport Sheridan Street Hollywood
New FEC Local Service

FEC Local 15/30 96 weekday trains 44 stations, 69 miles, 28-33 mph
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Golden Glades Opa-Locka Metrorail Transfer Hialeah Market Miami Airport
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LPA: INTEGRATED
Positives: Strong public support Good Municipal support High level of service Excellent Economic Development Opportunities Local and Express Service Integrates and ties existing Tri-Rail and New FEC Service together
Cypress Creek
Golden Glades Opa-Locka Metrorail Transfer
10/31/2011
Hialeah Market Miami Airport
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LPA: INTEGRATED
Challenges: 300 trains per day
Six times current Tri-Rail service
Very high Capital costs High Operating costs Long approval process
Federal Process
Cypress Creek
Slow service implementation

8 years and $25M to date
Miami-Dade MPO has NOT approved LPA Funding

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Golden Glades Opa-Locka Metrorail Transfer Hialeah Market Miami Airport
15
6. FDOT & FEC 2011 PROPOSAL

In August of 2011 FDOT unveiled a less ambitious FEC Standalone plan*
While less costly to build and operate, service is standalone and limited to Fort Lauderdale to Downtown Miami
* Study prepared by FDOT & HDR July 2011 (Submitted to news media & SFRTA on August 26, 2011)
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Palm Beach Broward
Miami-Dade
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7. SFRTAS FAST START PLAN
Service Plan Operations Annual Operating Cost Capital Cost Finance Plan Schedule
AN SFRTA PROPOSAL FOR REINTRODUCTION OF PASSENGER RAIL SERVICE IN THE FEC CORRIDOR
10/31/2011
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7. SFRTAs FAST START PLAN
SERVICE PLAN
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7. SFRTAS FAST START PLAN SERVICE PLAN

Integrated Service Unifies existing Tri-Rail and new FEC services by connecting them in Pompano Beach + Financially Feasible Plan Low start up costs and an affordable operating plan the leverages existing public investment in SFRTA/Tri-Rail = Fast Implementation Service can begin quickly
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Step One
Split Existing Tri-Rail Service

Orange Line (26 trains/day) Blue Line (24 trains/day)
Orange Line
Current Tri-Rail Route
Blue Line
New Downtown Miami Service
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Step Two Add service to highest ridership section of route to match existing Tri-Rail service level of 50 trains per day
Green Line (26 trains/day)
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Step Three Provide a regional service on the FEC between Jupiter and Downtown Miami
Red Line (6 trains/day)
Sets stage for regional service extending north
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Result Integrated Service Regional service on the FEC between Jupiter and Miami A one-seat ride to downtown Fort Lauderdale or Miami Modest Capital Costs Low Operating Costs SFRTAs plan assumes no incremental administrative costs
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OPERATIONS PLAN
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7. SFRTAS FAST START PLAN OPERATIONS PLAN

Modified Tri-Rail Service
Mangonia Park Miami Airport 26 weekday trains 18 stations Mangonia Park Downtown Miami 24 weekday trains 20 stations
New FEC Service

Jupiter Downtown Miami 6 weekday trains 18 stations Downtown Fort Lauderdale Downtown Miami 26 weekday trains 10 stations
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ANNUAL OPERATING COST
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7. SFRTAS FAST START PLAN ANNUAL OPERATING COSTS

Administration SFRTAs plan assumes no incremental administrative costs FDOT assumes a new administrative structure Operations and Vehicle Maintenance SFRTAs estimates are based upon actual contracts with Veolia and Bombardier, which provide very attractive rates for additional service FDOTs estimates are based on the National Transit Database Maintenance of Way SFRTA includes fees FDOT overlooked CSXT and FEC maintenance charges Neither plan addresses a corridor use fee with FEC
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Millions $30.0 $25.0 $20.0 $15.0 $10.0 $5.0 $0.0
$11.1 $0.9 $3.9
Comparison of Annual Operating Costs

$25.8M
Administration Maintenance of Way Vehicle Maintenance Operations
$9.9
10/31/2011
FDOT FDOT & FEC 2011 Proposal Fort Lauderdale to Miami
* August 2011 FDOT and FEC Proposal using National Transit Database
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Millions $30.0 $25.0 $20.0 $15.0 $10.0 $5.0 $0.0
$11.1 $0.9 $3.9

$25.8M
$12.5M
$4.1 $3.1
$5.3
Administration Maintenance of Way Vehicle Maintenance Operations
$9.9
10/31/2011
FDOT SFRTA FDOT & FEC 2011 Proposal Fort Lauderdale to Miami
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Millions $30.0 $25.0 $20.0 $15.0 $10.0 $5.0 $0.0 $11.1 $0.9 $3.9 $9.9 $12.5M $4.1 $3.1 $5.3 $15.0M $7.9 $1.9 $5.2 Administration Maintenance of Way Vehicle Maintenance Operations

$25.8M
10/31/2011
FDOT SFRTA FDOT & FEC 2011 Service Standalone FEC Proposal Fort Lauderdale to Miami
SFRTA Fast Start Jupiter -Miami
30

$0
Administrative
Maintenance of Operations
$5.2M Way $7.9M
Vehicle
Maintenance $1.9M
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CAPITAL COSTS
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7. SFRTAS FAST START PLAN CAPITAL COSTS

Description
Track and Structures Stations and Facilities Communications and Signals Crossings Infrastructure Subtotal Engineering & Other Costs Subtotal Rolling Stock New Layover Facility Grand Total
10/31/2011
FDOT & FEC 2011 Proposal*

$44.2 $21.4 $30.9 $20.7 $117.2 $75.0 $192.2 $56.9 $16.2 $265.2
SFRTA Fast Start Plan

$53.1 $30.2 $48.6 $23.2 $155.1 $100.6 $255.7 $0 $16.2 $271.9
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* All estimates by SFRTA
FINANCIAL PLAN
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7. SFRTAS FAST START PLAN FINANCIAL PLAN

SFRTA Fast Start Financial Plan based upon four assumptions:
1. FDOT will fund capital costs 2. SFRTA contributes to new operating costs 3. Cities will pay new annual fee per station on FEC corridor to defray operating costs 4. Increase fares system-wide upon introduction on Tri-Rail Coastal service
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7. SFRTAS FAST START PLAN FINANCIAL PLAN City station assessment

All 17 cities identified in SFRTAs Fast Start Plan will directly benefit from the FEC service All will be required to contribute an annual operating fee Each City will be required to sign a long term agreement with SFRTA BEFORE a station is approved for construction.
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7. SFRTAS FAST START PLAN FINANCIAL PLAN: CITY STATION ASSESSMENT
SFRTA Planning Staff to develop a comprehensive assessment for each city of economic development potential as a result of Tri-Rail Coastal Service
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7. SFRTAS FAST START PLAN FINANCIAL PLAN

DRAFT Tri-Rail Coast Service Annual Operating Cost * SFRTA Savings New Service Fare Box System-wide Fare Increase ** City Stations Annual City Station Assessment*** Low Revenue Scenario $15.030 million $1.500 $4.29 $0 17 ~$550K Short-fall $9.240 High Revenue Scenario $15.030 million $2.350 $5.36 $1.287 6.033 17 ~$350K
10/31/2011
Notes: * Does not include FEC corridor fee ** Only incremental increase included *** Subject to negotiations on corridor cost
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SCHEDULE
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7. SFRTAS FAST START PLAN SCHEDULE

SFRTA is confident it can begin Tri-Rail Coast Service in the corridor within the next three to five years. For perspective, FDOT has been conducting planning studies for eight years and has years of additional studies budgeted
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8. COMPARISON OF FDOT PROPOSAL & SFRTA FAST START PLAN

Service Description LPA SFRTAs Fast Start Plan FDOT & FEC 2011 Proposal *
Integrated with Tri-Rail?

Jupiter to Miami Service? Fort Lauderdale to Miami Only? Competes with Tri-Rail? Leverages Existing Public Investment in SFRTA and Tri-Rail? Stations Economic Development Potential Trains per day (weekday) Distance
10/31/2011
Yes
Yes No No Yes 47 Excellent 300 85 + SFRC
Yes
Yes No No Yes 17 Very Good 82 85 + SFRC
No
No Yes Yes No 8 Moderate 50 24
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* Study prepared by FDOT & HDR July 2011

Other Issues Description Ridership Potential Federal Environmental Review Time to Implementation Grade Crossing Impacts Rolling Stock Locally Preferred Alternative Excellent Yes >10 Years High 105-166 DMUs + 35 Railcars SFRTAs Fast Start Plan Very Good No <5 Years Low 0 FDOT & FEC 2011 Proposal * Good ?? < 5 Years?? Low 15
Locomotives
18
10/31/2011
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Funding & Oversight Description Addition County Funding Required? Public Agency Oversight Public Funds to Private Firm? Annual Operating Cost Capital Cost LPA Likely Likely SFRTA No $177-203 million $2.5 billion SFRTAs Fast Start Plan No SFRTA No $15.0 million $271.9 million FDOT & FEC 2011 Proposal * Yes No Yes $25 million $265.2 million
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9. SUMMARY
SFRTA should continue its leadership role in bringing passenger service to the region
SFRTA is uniquely positioned to implement the Tri-Rail Coastal Service quickly and efficiently Superior integrated service for about half the operating cost of the FDOT and FEC proposal SFRTA can implement the Tri-Rail Coastal Service with no additional equipment
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Tri-Rail Coastal Service

South Florida Regional Transportation Authority
MiamiDade
Broward
Palm Beach
Getting Southeast Florida To Work

FEC Prospectus Board 102811 v2

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FAST START PLAN

10/31/2011 SFRTA October 2011 Board

FLORIDA EAST COAST RAIL CORRIDOR (FEC)

3. PASSENGER RAIL IN SOUTH FLORIDA

3. PASSENGER RAIL IN SOUTH FLORIDA

High Route Productivity (7 th in nation )

High Station Productivity (7 th in nation )

High Ridership (10 th in nation )

4. SFRTA A COMMUTER RAIL INNOVATOR

Security Station Maintenance Revenue Collection Systems Executive

4. SFRTA PRIVATIZED SERVICE DELIVERY

4. SFRTA HIGHLY EFFICIENT SERVICE DELIVERY

Service Delivery Administration

4. SFRTA COST STRUCTURE COMPARES FAVORABLY TO INDUSTRY

National Transit Database Categories *

Industry LOW SFRTA Industry AVE Industry HIGH

Non-Vehicle Administration Maintenance

* Based upon latest available NTD Report: 2009

5. SOUTH FLORIDA EAST COAST CORRIDOR STUDY

Indiantown Road Toney Penna Drive

Fort Lauderdale Fort Lauderdale Airport Sheridan Street Hollywood

New FEC Local Service

Indiantown Road Toney Penna Drive

Fort Lauderdale Fort Lauderdale Airport Sheridan Street Hollywood

Golden Glades Opa-Locka Metrorail Transfer

Hialeah Market Miami Airport

Indiantown Road Toney Penna Drive

Slow service implementation

Fort Lauderdale Fort Lauderdale Airport Sheridan Street Hollywood

Miami-Dade MPO has NOT approved LPA Funding

Golden Glades Opa-Locka Metrorail Transfer Hialeah Market Miami Airport

6. FDOT & FEC 2011 PROPOSAL

Palm Beach Broward

7. SFRTAS FAST START PLAN

7. SFRTAs FAST START PLAN

7. SFRTAS FAST START PLAN SERVICE PLAN

7. SFRTAS FAST START PLAN SERVICE PLAN

Split Existing Tri-Rail Service

7. SFRTAS FAST START PLAN SERVICE PLAN

7. SFRTAS FAST START PLAN SERVICE PLAN

Sets stage for regional service extending north

7. SFRTAS FAST START PLAN SERVICE PLAN

7. SFRTAs FAST START PLAN

7. SFRTAS FAST START PLAN OPERATIONS PLAN

New FEC Service

ANNUAL OPERATING COST

7. SFRTAs FAST START PLAN

7. SFRTAS FAST START PLAN ANNUAL OPERATING COSTS

7. SFRTAS FAST START PLAN ANNUAL OPERATING COSTS

Comparison of Annual Operating Costs

Administration Maintenance of Way Vehicle Maintenance Operations

FDOT FDOT & FEC 2011 Proposal Fort Lauderdale to Miami

7. SFRTAS FAST START PLAN ANNUAL OPERATING COSTS

Comparison of Annual Operating Costs

Administration Maintenance of Way Vehicle Maintenance Operations

7. SFRTAS FAST START PLAN ANNUAL OPERATING COSTS

Comparison of Annual Operating Costs

SFRTA Fast Start Jupiter -Miami

7. SFRTAS FAST START PLAN ANNUAL OPERATING COSTS

7. SFRTAs FAST START PLAN

7. SFRTAS FAST START PLAN CAPITAL COSTS

FDOT & FEC 2011 Proposal*