Metrorail Station Feasibility Work Group
Link to Potomac Yard Planning Advisory Group
For the latest news and updates about the Potomac Yard Metrorail Station, visit www.potomacyardmetro.com!
Potomac Yard Metrorail Projections Memo to the Planning Commission dated May 28, 2010
The Final Potomac Yard Metrorail Station Concept Development Study (February 3, 2010) is now available.
The Metrorail Station Feasibility Work Group held its final meeting on December 14, 2009. The guiding principles of the Work Group are as follows:
- For the purpose of future NEPA environmental studies, continue studying options within the envelope of the northern station locations and the existing station reservation site (A). The C and D options should be removed from further consideration.
The northern station envelope encompasses the maximum footprint, including permanent maintenance easements, which would be required for the construction of a station along the Metrorail alignment north of the existing station reservation.
- The existing transportation infrastructure cannot support the Landbay F proposed development. Construction of the Metrorail station is required to support the level of development proposed in Landbay F.
- Amendments to the Master Plan and the rezoning of Landbay F cannot go forward until the City is satisfied that an acceptable financing plan has been developed and agreed to.
- The financial risk to the City must be carefully structured and managed.
Terms and conditions in contracts and land use approval actions need to be carefully and clearly detailed so all parties understand expectations and obligations, and therefore the financial risks to the City are mitigated.
- No negative cash impact on the City’s General Fund in any given year.
The projected “gap” between the anticipated tax revenues from the special tax district, per square foot developer contributions, plus additional incremental net n new revenues generated by the project, will need to be “bridged” in the early years of the bond financing by firm and sufficient upfront Landbay F payments, so there will be no negative cash impact on the City’s General Fund in any given year.
- Any proposed financing must be conservative with a sound financing structure and shared risk.
The proposed financing must not put at risk the City’s AAA/Aaa bond ratings, as well as projections used for the Metrorail station construction costs, as well as the project build-out timetable and resultant projected tax revenues need to utilize conservative assumptions, so that the downside risks can be minimized. Some of the downside risks also need to be shared by the participating parties.
In order to assess the technical and financial analyses required for a potential new Metrorail Station in Potomac Yard, the City Council established a Metrorail Station Feasibility Work Group, to include two members of City Council, one member of the Planning Commission, one member of the Potomac Yard Planning Advisory Group, and one member of the Transportation Commission. The following were appointed as Metro Work Group members by the chairs of each respective group:
City Council—William Euille and Kerry Donley
Planning Commission—Eric Wagner
Potomac Yard Planning Advisory Group—Noah Teates
Transportation Commission—Jennifer Mitchell
The mission of the group is to analyze the financial tools, risks and fiscal impacts of funding the Metrorail station, to examine concept refinement and constructability of a new station, to review construction costs, and to evaluate potential ridership. The work group will receive staff and consultant briefings on the Metrorail station feasibility studies, review options and priorities, and ensure necessary technical questions regarding funding, concept refinement, ridership and constructability are answered. The group will meet on a regular and as needed basis throughout 2009, and the process will be coordinated with the Potomac Yard Planning Advisory Group process.
For more information, contact Benajmin Aiken at 703-746-3845.
Map showing Potomac Yard Metro Station Location Alternatives
Metrorail Station Feasibility Work Group Meeting Materials
December 14, 2009
Presentation - Financing Update
Presentation - Ridership
Presentation - NEPA Overview
November 9, 2009
Presentation - Station Feasibility Analysis
Presentation - Overview of Federal Financial Assistance Programs
September 21, 2009
May 19, 2009
Handout - Metro Station Location Alternatives Summary
Handout - Metro Station Location Alternatives Map
Final Metrorail Station Location Analysis Memo 2009-05-15
April 15, 2009
Location Alternatives Presentation
Tech memo Figure 2
Tech memo Figure 3
Tech memo Figure 4
Tech memo Figure 5
February 19, 2009
1998 Summary of Metro at Potomac Yard
Metrorail Station Feasibility Work Group Scope and Process
Resolution to Establish Metro Work Group
Overview of PY Development and PYPAG
Financing a Metrorail Station Report--May 13, 2008