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Enhancing Transportation and Development in Republic Drive CRA District

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Created in 1994 to improve transportation around I-4 and Universal Studios, the District has seen success due to public and private investments. Requesting additional public improvements for future growth and safety enhancements.

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Enhancing Transportation and Development in Republic Drive CRA District

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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

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