Where do you go for millions -- or billions -- of dollars? Securing federal and local funding for big transit projects can be overwhelming. Where do you even begin? Hear from leading strategists in three regions that found their pot of gold: Los Angeles, Salt Lake City and Washington's Maryland suburbs have billions of dollars of new rail projects, and their regions are reaping the benefits. Specially geared to regions who are just beginning to think about project funding, hear strategies for leveraging changes in agency governance, raising local revenue and maximizing its immediate impact, attracting federal investments, and using private investment to reduce upfront costs and achieve value over time. Moderator: Sean Libberton, Principal, WSP | Parsons Brinckerhoff, Inc., Washington, DC Henry Kay, Director, Transportation Planning, RK&K, Baltimore, Maryland Hal Johnson, AICP, Manager of Project Development, Utah Transit Authority, Salt Lake City, Utah Mark Linsenmayer, AICP, Director, Countywide Planning & Development, Metro, Los Angeles, California

1. How to Start: Project Funding Lessons & Strategies
LA Metro Funding Commitments
Inventory
October 27, 2015
RAIL~VOLUTION

2. Los Angeles County:
County with the Largest Economy in the United States
• 88 incorporated cities
• Large Area
› Total area of 10,574 square kilometers
› Larger than the states of Rhode Island
and Delaware combined
• Large Population
› 10 million people in LA County; 17.6
million in surrounding counties
› More people than 42 states
• Diverse
› More than 40% foreign-born
› Over 220 languages spoken
• 17th largest economy in the world
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3. For Los Angeles County, Metro is…
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The Regional Planner
• Long Range Plan
• Capital Plan
• Corridor Plans/Environmental Clearance
The Regional Builder/Funder
• Rail and Bus
• Highway
• Major Roads
The Regional Operator
• Metro Buses: 2,228 vehicles covering 1,433
square miles and 183 routes
• Metro Rail: 88 miles, 6 lines, 80 stations
• Bus Ridership Week Day: 1,058,021

4. Transit Project Construction Cost: $8.5 B
Includes $4.6 B
in borrowing

5. Highway Project Construction Cost: $5.5 B
Includes $1.5 B
in borrowing
Note: Costs include prior expenditures.

6. Sources: Local, State & Federal (SRTP 2015 – 2024)
$84.8 Billion
Countywide Sources Metro-Controlled Sources
$54.5 Billion

7. Uses: Transportation Public Investments by Mode:
Countywide and Metro Controlled Spending Forecast
Countywide Uses
FY 2015 – FY 2024
Metro Controlled Uses
FY 2015 – FY 2024
$84.8 Billion Total
FY 2015 – FY 2024
$54.5 Billion Total
FY 2015 – FY 2024
* Includes safety net program, agency-wide capital,
and regulatory oversight.

8. Improving Capital Program Firewalls:
58% Operating Eligible & 25% Capital Only (FY 2015 - FY 2024)
Prop A
Prop C Measure R
TDA
But Combined Sales Tax is 58% Ops Eligible:
(millions)
$32.1 B
Sales Tax Firewalls Improving Over Time:
SRTP Planned Debt Service Uses less than
6% ($1,867 M) of Eligible Funds
(Used for Ops)
(Used for Capital)
Sum = 58%
Capital Cap or Ops
Operations Local Return

9. Operating Eligible Bond Funds Critical to Capital Program
$1,867 M
(6%)
SRTP Planned Debt Service Uses 6% of Eligible Funds
(Debt service for FY 2015 to FY 2024)
This 6% = $6.6 B in bond proceeds
(FY 2015 to FY 2024)

10. Borrowing Key to Transformative Plan
Prop A & C Bonds
* Excludes Beginning Balances

11. Metro’s Transformative Financial Strategy…
• Capital improvement
program exceeds $14 B
– Transit & Highway
• Almost all under
construction
• Borrowing brings in
$6.6 B
• Debt capacity maximized
– $1.5 B subordinate federal
loans critical to success
» America Fast Forward
Legislation
Transit Improvements
Highway Improvements

12. Leads to Transformative Results:
Travel demand forecasted to increase by 6%
• Transit boardings increase to 2.6 M per day
o a 13% increase from 2.3 M in 2014
• Rail transit track miles increase by 31%
o Complementary bus service stays level
• Greenhouse gas emissions reduced by 9%
o Surpasses the Air Resources Board per capita
passenger vehicle target of 8% in 2020
• Highway lane-miles increase by only 1.1%
o High Occupancy Vehicle Lanes
o Freeway speed reductions mitigated, but can’t
increase without pricing
o 2014 = 27.8 MPH
o 2024 = 25.8 MPH