1. National Leaders in Real Estate Research Streetcar Economic Development Impact and Projected Ridership Ken Danter The Danter Company Streetcar Working Group November 13, 2006

2. National Leaders in Real Estate Research Economic Impact Considerations n Residential/Commercial/Business Development n Property Taxes n New Jobs to Downtown and Resulting City Income Taxes n Convention and Tourism and Resulting Expenditures

3. COLUMBUS TREND PORTLAND TREND STREETCAR CONSTRUCTION BEGINS STREETCAR OPENS ESTIMATED PORTLAND TREND WITH NO STREETCAR DEVELOPMENT ESTIMATED STREETCAR IMPACT

4. National Leaders in Real Estate Research Residential/Commercial/Business Development By Type n Condominium/Apartment – 1,500 units n Ground-floor Commercial/Business – 120,000 to 150,000 square feet n Hotel/Lodging – 300 additional hotel rooms – Brings additional Bed Tax Revenues n City’s Emergency Human Services Fund n Columbus General Fund n Housing Trust Fund n Cultural Development n Promote City of Columbus

5. National Leaders in Real Estate Research Candidates for Development Potential n Vacant parcels n Surface parking n Underused parcels n Historic properties in fair to poor condition that might be eligible for historic tax credits

6. National Leaders in Real Estate Research Key Characteristics of Proposed Lines Line Blue Green West Green East Blue + Red Blue + Red + Green Vacant, Surface Parking and Underused Parcels 24.78 acres 12.26 acres 24.17 acres 36.44 acres 72.87 acres Historic Properties Square Feet 679,317 sq. ft. 0 sq. ft. 541,241 sq. ft. 736,655 sq. ft. 1,277,896 sq. ft. Within 400 feet of line (approximately 1 city block)

7. National Leaders in Real Estate Research Projected Residential/Commercial/ Business Development Impact LINE LOW ESTIMATE* HIGH ESTIMATE* Blue$211 million$238 million Blue + Green East$394 million$448 million Blue + Green West$308 million$346 million Blue + Green$491 million$556 million Blue + Red$259 million$297 million Blue + Green + Red$540 million$616 million *Adjusted to 2008 dollars (4.0% annual increase – Source: CDDC)

8. National Leaders in Real Estate Research Property Tax Estimates – (5-year Cumulative) (75% Abatement Applied to Downtown Properties) LINE LOW ESTIMATE* HIGH ESTIMATE* Blue$2.5 million$2.9 million Blue + Green East$4.9 million$5.6 million Blue + Green West$3.7 million$4.2 million Blue + Green$6.0 million$6.9 million Blue + Red$5.2 million$6.0 million Blue + Green + Red$8.6 million$9.9 million *Adjusted to 2008 dollars (4.0% annual increase – Source: CDDC)

9. National Leaders in Real Estate Research Additional Jobs to Downtown Generated by Streetcars n Over 3,000 jobs Downtown from streetcars n Types of jobs projected: – Construction – Residential management/maintenance – Commercial/business services – Streetcar drivers/maintenance/support n Average income: $42,200 n Cumulative (5-year) increase in city income tax: $2.7 million* *Adjusted to 2008 dollars (4.0% annual increase – Source: CDDC)

10. National Leaders in Real Estate Research Convention and Tourism Increase and Resulting Expenditures n 90,000 additional visitors – 50,000 overnight stays – 40,000 day trips n $52.8 million* cumulative expenditures over 5 years *Adjusted to 2008 dollars (4.0% annual increase – Source: CDDC)

11. National Leaders in Real Estate Research Total Economic Development 5 years LINELOW ESTIMATE* HIGH ESTIMATE* Blue$216 million$248 million Blue + Green East$410 million$464 million Blue + Green West$319 million$356 million Blue + Green$508 million$578 million Blue + Red$270 million$308 million Blue + Green + Red$562 million$637 million *All totals adjusted to 2008 dollars (4.0% annual increase – Source: CDDC) Includes market value of development of condominiums, rental units, commercial/businesses and hotels; cumulative property tax (not considering abatements); cumulative net gain from city income tax (over 800 new employees); cumulative increase in convention/tourism expenditures

12. National Leaders in Real Estate Research Ridership Considerations n Population n Employment n Hotel rooms n Student enrollment n Destinations n Case studies

13. National Leaders in Real Estate Research Ridership Case Study Factors Within 800 Feet of Line Market Resident PopulationEmployees Hotel Rooms Average Daily Ridership (Stabilized) Memphis2,88419,8272,6272,514 Portland14,73149,9312,9366,900 Columbus Blue + Green 5,44264,8333,1055,000 – 5,600* Columbus Blue + Green + Red 10,88667,0023,1056,400 – 7,200* * At stabilization (5 years)

14. National Leaders in Real Estate Research Ridership Estimates Average Daily Ridership Estimates n Blue/Green – Stabilized ridership (Year 5) – 5,000 to 5,600 – First 4 years of operation - 3,000 to 4,500 n Red Line Extension (Buttles to 11 th Avenue) – Stabilized ridership (Year 5) – 1,400 to 1,600 – First 4 years of operation - 840 to 1,280