COCAR Streetcar Lunch and Bus Tour Nicolle Goodman Director of Redevelopment Programs The Alliance for Economic Development of OKC, Inc.

Overview of the Alliance Created in 2011 to better serve the economic development needs of Oklahoma City Lead development entity helping to streamline services and increase efficiencies Collaborates with public and private entities on new development projects

The Alliance’s Role Tax Increment Financing (TIF) Districts General Obligation Limited Tax Bond Program (Strategic Investment Program) Retail Strategy and Incentives City and Urban Renewal Redevelopment Programs Identification and Development of Job Creation Sites Public-Private Redevelopment Opportunities from MAPS Projects

Streetcar Route

OKC Streetcar Facts There will be seven streetcars. The vehicles are 66’ long, 8’ wide and each will hold approximately 125 people. The streetcars will operate on fixed rail, embedded in the street. They are not trolleys with rubber tires. With the exception of one portion of the track along the new OKC Boulevard, the streetcars will operated in the same lanes as the traffic. The streetcars are being built in the USA by Brookville Equipment Corp. of Pennsylvania. The streetcar system will begin operation in 2018

The Vehicles

The Platforms

Downtown OKC Current Public/Private Development Projects

Plans, Policies and Frameworks

PlanOKC - Development Guide

DDF – Future Development Plan

Core to Shore Preferred Height Minimums (Based on Downtown Development Framework)

How TIF Works

TIF Accountability Features Extensive Review Staff TIF Advisory Committee TIF Review Committee Oklahoma City Economic Development Trust City Council

TIF Accountability Features Considerations Project Location and Scope Layout of Project (engineering assumptions, compatibility with PlanOKC Capital stack Financing Terms Revenue and Expense Assumptions

TIF Accountability Features Verification Actual investment Final sources and uses Project built to original intent Key Requirements Minimum tax payment Minimum density (higher in C2S TIF) 5 year no flip

Downtown TIF District

Core to Shore Reinvestment Area - TIF Districts 821 acres

How is economic impact measured? Can be difficult to measure You can’t always determine the exact cause and effect Hard to quantify increase in such factors as walkability and quality of life Define an area to measure Within a certain number of blocks? Within a certain distance such as ¼ mile of the line? Track several factors Construction permit value of new projects, etc. Increase in property valuation and tax revenues of existing properties Office/commercial square footage, number of dwellings of new projects Tourism and sales tax impacts are harder to measure

Expected economic impact of OKC streetcar 2013 - EMBARK hired Jacobs Engineering, Shiels Obletz Johnsen (SOJ) and ED Hovee to assess economic growth potential of MAPS 3 Streetcar corridor during first ten years of operation Projections based on experiences of other streetcar cities as well as specific conditions present in Oklahoma City Considerations included: Amount of developable land along the route (vacant and underused) Current zoning Planned developments and general outlook Expected development impact by consultants (over what would likely occur without streetcar) 4.5 times greater within 1 block of the line 2.0 times greater within 2-3 blocks of the line Consultants suggested various trackable measures

Tracking the impact in OKC Collaborative effort between EMBARK, the Greater Oklahoma City Chamber of Commerce, the Alliance for Economic Development and others Currently defining the impact area to measure Data is already being gathered, but the appropriate types of data and the methods for tracking impact over time are still being discussed

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