Travel Benefits Benefit/Cost Transit Slides

Travel Benefits  Are a primary source of benefits  Include benefits to transit and auto users, and trucks too

Travel Benefits  Reduced travel times  Out-of-pocket cost savings (e.g., fares versus gas and parking)  Owning fewer cars  Reduced accidents

Increased Ridership  Our project would increase transit ridership by __. For these new transit riders:  Average travel time would decrease from __ to __  The average cost of a trip (including paid parking, the value of time, and operating costs) would decrease from __ to __  The annual value of these cost savings is __ NOTES TO USER: Potential sources: User Cost Calculation Worksheets, Annual Direct User Benefit Worksheets. Delete this box to maintain slide formatting.

Our Project Benefits Auto Users Too  Our project reduces auto trips by __  The average travel time for autos declines from __ to __ (i.e., congestion is reduced)  The annual value of cost savings to auto users is __ NOTES TO USER: Potential data sources: User Cost Calculation Worksheets, Annual Direct User Benefit Worksheets Delete this box to maintain slide formatting.

“Unrecognized” Parking Costs  Parking is costly ($1,500 to $25,000 per space)  When parking is subsidized, the value of the subsidy saved is an additional benefit of attracting a new rider to transit  Our project reduces unrecognized parking costs by __ per year NOTES TO USER: Potential data sources: Parking Costs Avoided Worksheet. Delete this box to maintain slide formatting.

The “Option Value” of Transit  Transit service benefits everyone, not just regular transit users  Auto users benefit from transit’s availability when:  Cars are temporarily unavailable or are being repaired  Drivers lose the ability to operate a car  Bad weather makes driving particularly hazardous  Our project provides annual “option value” of $____ NOTES TO USER: Potential data sources: Option Value of Transit Worksheet. Delete this box to maintain slide formatting.