Posts Tagged ‘investment’

Metro’s Ten-Year Capital Needs Inventory and Prioritization is Complete

December 5th, 2016 No comments

Metro needs to invest $17B over 10 years to achieve and maintain a State of Good Repair.

In June 2016, we introduced the initiation of the 2016 Capital Needs Inventory (CNI), with the goal to develop a list of fiscally unconstrained and prioritized investment needs over the next ten years and to meet the new federal Transit Asset Management (TAM) requirements. After seven months of rigorous work, the first phase of the CNI is coming to a completion!

Figure 1: CNI Final Report

CNI Final Report (click for link to PDF)

What distinguishes this CNI from Metro’s efforts in previous decades? Breakthroughs on several fronts:

  • It represents the first time that Metro developed a ground-up, data-driven and FTA-compliant method for asset prioritization.
  • It consolidates asset data sources and builds a complete asset inventory database that catalogue higher-level assets and asset features.
  • It estimates asset condition (and need rehab/replacement date) based on measurable data such as age of asset and history of rehabilitation, and projects replacement and rehabilitation needs to advance a State of Good Repair (SGR).
  • It establishes a prioritization methodology aligned with Metro’s strategic goals and priorities and uses FTA’s TERM (Transit Economic Requirements Model) to prioritize all asset needs.

Here is a sneak peek of the CNI:

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Does Transit Yield its Promised Economic Benefits? A 1969 Perspective.

June 25th, 2015 1 comment

The actual economic benefits of Metro far exceed what planners estimated in 1969, and it’s worth remembering as we consider future transit investments.

In the late 1960s, when Metrorail was nearly about to begin construction, Metro published a forecast of the economic benefits of Metrorail.  The report made rosy projections of the all the travel time and costs the network, then a 97-mile proposed rail system, would bring.  (It also included photos of the pretty awesome 3-D model of a station, including maybe a one-car train?).  Now, four decades later, were the projections right?  Has Metrorail produced the benefits we thought?  The answer is yes, and then some.

Economics_of_metro_cover

Cover of a 1969 report estimating the economic benefits of Metrorail

At the time this report came out, the region was about to make a substantial investment in public transit , probably not unlike today, where we face real choices about whether to invest in Metro 2025 initiatives such as 8-car trains, the Purple Line, or bus lanes.  To quote the report,

Metro is ready for construction. The routes have been selected. The program for local financing has been approved.

How feasible is Metro? Who will benefit?  Will the benefits justify the costs? Is Metro a good public investment for the National Capital Region and its financial partner, the federal government?

The report tallied up all the time savings to riders – former motorists, former bus riders, and truckers – as well as the travel cost savings like avoided parking, vehicle savings, operating cost savings, and more.  It concluded that Metro would save $186 million per year in 1990$, roughly equivalent to $310 million/year in today’s dollars after adjusting for inflation.  Read more…

Goal 4 – Ensure Financial Stability and Invest in our People and Assets

July 25th, 2013 No comments

Metro will seek sufficient and stable funding while leveraging all of its assets wisely.

Metro will put to best use Parking-Credit-Card-Glenmont-041311-20all of its resources—from investing in employees and smarter management of equipment to securing a sound financial roadmap for the future. But this alone will not give the region the transit network it needs for the future. Reliable and sustained funding will be absolutely necessary for Metro to make the critical investments that the region needs. Metro will work with partners at the local, state, and federal levels to ensure that proper funding mechanisms and practices are in place. Metro is a wise steward of its resources. Each year, Metro recycling efforts divert tons of garbage from landfills.

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