1 / 22

Republic Drive CRA District

Republic Drive CRA District. Republic Drive CRA District was created in 1994 to address transportation deficiencies in the area around I-4 and Universal Studios

patch
Télécharger la présentation

Republic Drive CRA District

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Republic Drive CRA District • Republic Drive CRA District was created in 1994 to address transportation deficiencies in the area around I-4 and Universal Studios • Thanks to public improvements (City and County through the CRA) and private improvements (Universal) the District has been a huge success. • The Republic Drive CRA District rebates $5.5 Million/year in tax increment revenue back to the City and County.

  2. Future Plans • Universal began construction of a 1,800 room hotel and additional new development that will impact transportation and public (pedestrian) safety in the area. • We are requesting the City and County consider additional public improvements to maintain public thru-put in the area and incentivize Universal’s continued additions to the tax base.

  3. Universal Orlando Slides • Historical development • Establishment of CRA district and initial public contribution for interchange created foundation for development of IOA and CityWalk • Universal Orlando provided initial credit support in the form of a special assessment to fund the interchange – Needed because tax base not built at that time. • Current development • Construction value of current investment is hundreds of millions of dollars • Future development • Additional CRA contribution provides foundation for current and future development. Universal vested for an additional 6000+ hotel rooms that can also be converted to other uses. • Additional capital investment – Proud member of the Comcast family who are bullish on the theme parks

  4. Universal Orlando Slides • Transportation Network (Dante Gabriel, GMB Engineers & Planners, Inc.) • Transportation patterns • Traffic Analysis/internal Universal trip capture rates • Traffic Operations and Benefit-Cost Analysis • Pedestrian bridge will address pedestrian safety on public streets while maintaining trip thru-puts • Pedestrian bridge will benefit traffic congestion along major interstate exit ramps • Universal Ramp and Hollywood Way/Adventure Way roadways act as a reliever to two overcrowded I-4 ramps: Sand Lake Road/Conroy-Kirkman movements

  5. Universal Orlando Slides • Proposed project • Pedestrian bridge • Stormwater improvements • Other improvements • Current construction - photos of additional tax base.

  6. District Activity

  7. Tax Increment Rebates to City and County

  8. Proposed Project Financing

More Related