Download Joint Development at Downtown Rail Stations U.S.

yes no Was this document useful for you?
   Thank you for your participation!

* Your assessment is very important for improving the work of artificial intelligence, which forms the content of this project

Document related concepts
no text concepts found
The 30th Street Station project had another type of process and financial structure.
While the MBTA obtained federal funds from the DOT, Amtrak did not count on this kind of
funding. Instead, Amtrak made use of federal funds eligible for urban development, funds
which were not specifically for transportation or for railroads. Another difference in funding
was that Amtrak got federal funds from the UDAG and tax-exempted private money from the
IRB through the City of Philadelphia, while the MBTA obtained federal funds directly.
Therefore, in the case of 30th Street Station, the partnership between Amtrak and the City of
Philadelphia was relevant even though the city itself did not actually provide any funding.
A summary of each participant's role is provided in Table 2.2. In addition, because the
funding of a project is an important issue, the financial contribution of each party is illustrated
in Table 2.3. According to Table 2.3, the federal government provided for as much as seventythree percent of the total cost of the Union Station project, while it provided for only forty
percent of the total cost of the 30th Street Station project. Local governments and transit
agencies spent their own funds only on the South Station project, while for the other two
projects they obtained the same amounts of federal money as they spent. Private money was
raised for up to sixty percent of the project cost for the 30th Street Station project, while it was
raised from zero to about thirty percent for the others.
As we can also see in Tables 2.3 and 2.4, all projects involved private entities with
respect to management or funding. This means that public agencies sought private developers to
meet construction costs, and to obtain the know-how of private developers.
There are several possible reasons for the various processes and financial structures
mentioned above. One is the intensity of each agency's interest in each city. In Washington,
D.C., the federal government was considered to be more concerned with Union Station than the
D.C. Government and the transportation agencies, because it was a notable station and one of
the main entrances to the Capital as well. In Boston, both the City of Boston and the MBTA
were concerned about South Station. The City intended to make the station the core of the
redevelopment of downtown Boston, and the MBTA considered it a key station for commuters