Funding Innovations for Metro Vancouver July 2014 Unique Transportation Authority Metro Vancouver: 2,977 km2 – Population: 2.4 million Unique Mandate . TransLink is the first North American transportation authority responsible for both roads and transit Bus Services Commuter Rail Services More than 220 bus routes with a West Coast Express fleet of over 1,500 vehicles Ferry Services Roads SeaBus, three passenger-only ferries Operation and maintenance of the linking Downtown Vancouver and 2,400 km major road network North Vancouver Bridges Cycling Owns the Pattullo, Knight Street, Golden Contributions to new bike paths and Ears and Westham Island Bridges locker facilities HandyDART Transit Police Force A custom transit service for people Dedicated transit police service with disabilities, there are 338 vehicles in the fleet Rapid Transit Services AirCare Expo, Millennium and Canada SkyTrain Vehicle emission testing and inspection Lines Why is Innovative Funding Important • Scarcity of tax payers dollars • Under utilization of huge infrastructure investments • The need to densify Rapid Transit Lines • The customers desire for “Value Adds” Real Estate • Adjacent & Integrated Development (AID) Program • Infrastructure Financing • Commercializing the Transportation Network • Strategic & Surplus Land Adjacent & Integrated Development (AID) Program • A cross enterprise program • includes real estate, operations, risk, legal, service planning, infrastructure planning • Created to support and manage development within our rights of way • Most successful when TransLink and Municipal Development Planning work in concert early on • Process generally takes 6-12 months AID projects from 1984 - 2011 AID projects from 1984 - 2011 • 6 Projects • Primarily absorbed into Overhead • Promotion of Transit Oriented Development (TOD) Active Developments Today Active Developments Today • 30+ Projects along TransLink Infrastructure • Shift from Overhead Absorption Focus to Commercialization • Value-to-Date: Revenues Other Value Items and Cost Recoveries Estimate Description To-Date • Station Funding • Facility & Infrastructure Improvements $4M $45M • Contributions • Risk Transfers Expected to Start Soon Infrastructure Financing • Capstan Station – Partnership with Local Government – 100% of Rapid Transit Infrastructure paid for by Private Industry • AID Program – Passenger & Infrastructure Improvements funded by Private Industry Commercialization of the Transportation Network • Retail Program Expansion – increases the safety and security for our customers – provides “value add” to customers • Commercial Wireless Program – leverages our assets – assets are in key locations throughout Metro Vancouver – provides “value add” to customers Opportunity Increasing consumer demand for Transit Oriented Development (TOD) and development proximate transportation options Example: Marine Gateway Project Assets (either owned by the Province or TransLink) are proximate transportation options and/or have high potential for TOD Collaboration between Province and TransLink is required to optimize the value of collective assets (or jointly controlled assets) as neither party is able to undertake development independently, while preserving transportation uses Strategic & Surplus Land Portfolio • Secure Real Property Assets Early • Secure Income Producing Assets, where possible • Align Real Estate Strategy to Transportation Strategy • Maximize returns on surplus lands • Grow recurring revenue streams Benefits of the Program • Increase non taxation revenue • Increase safety and security on the system • Increase customer amenities • Increase the land use and densification near rapid transit lines • Increase the Real Estate Values in transit oriented communities Contact information: Cathy McLay Chief Financial Officer & Executive VP Finance and Corporate Services [email protected] T: 778.375.7700 .