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Comprehensive TOD Financial Strategy and Economic Development Recommendations

This document outlines a comprehensive strategy for Transit-Oriented Development (TOD) focusing on economic impact analysis, market studies, and community asset mapping. It synthesizes existing economic development plans and benchmarking best practices while recommending strategies for TRID value capture, financing mechanisms, and priority investments. Key challenges to implementation, including the lack of dedicated funding sources, are addressed alongside recommendations for utilizing federal programs, community input, and innovative financing solutions. The strategy emphasizes fostering redevelopment and supporting small businesses through tailored financial assistance.

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Comprehensive TOD Financial Strategy and Economic Development Recommendations

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  1. Assessment & Analysis • TOD Benchmarking • Physical & Financial Best Practices • Synthesize Existing Economic Development Plans • Update ERA Market Study • Including Analysis of Conceptual TOD Scenarios • Community Asset Mapping • Economic Impact Analysis • Recommend TRID Value Capture Area Based Upon Market, TOD Scenarios & Community Input

  2. Comprehensive Financial Strategy • Address Challenges to TRID Implementation • TRID Not Established Funding Mechanism • Lack of Dedicated TOD Funding Source • Utilize Other Sources to ‘Jump Start’ Redevelopment • Federal Transit Administration & Department of Transportation • HUD Section 108, 221(d)(3-4) & CDBG • Low Income Housing Tax Credits, Historical Tax Credits & New Markets Tax Credits • PHFA • RACP • Infrastructure Development Program • High Performance Building, Solar & Geothermal Programs

  3. Comprehensive Financial Strategy • Identification of Priority Investments • Project Specific Financing • TIF Model secured through NID Special Assessment • Dedicated Revenues for Debt Repayment

  4. Project Specific Financing

  5. Comprehensive Financial Strategy • Collection of Revenues Over Time • Administered by Neighborhood Improvement District • East Liberty TOD Fund • For Projects Not Large Enough for Stand Alone Financing • Property Acquisition, Demolition, Public Space, Intermodal, etc • Pool Available for Grants & Loans • Port Authority Transit Fund • Joint Development, Necessary Transit Improvements & Maintenance • East Liberty Community Development Fund • Small Business Assistance & Non-profit Community Groups

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