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Strategic Financial Studies
Use the links below to read more about the Transit studies regarding Revenue Enhancement, Transit Performance and Expenses and Transportation Development.
- Innovative Revenue Techniques (2009)
The purpose of this study is to research the best practices in innovative transit funding, and provide a preliminary evaluation of the potential for MDT to utilize these innovative tools to deliver projects planned in its capital program. Detailed financial analysis of the innovative finance potential for specific projects is envisioned as a future phase of this assignment.
- Revenue Enhancement Opportunities, Phase 1 (2010)
This study identifies several financing alternatives potentially applicable in Miami-Dade County, including joint development agreements, naming rights, park-and-rides, and partnerships with the Miami-Dade Expressway Authority (MDX), Florida Department of Transportation (FDOT), Florida’s Turnpike Enterprise (FTE), and other agencies or municipalities. This report’s research can help to guide policy decisions, and the use of the techniques described within can lead to an even stronger ongoing financial outlook.
- Revenue Enhancement Opportunities, Phase 2 (2011)
The purpose of this study is to build upon the Revenue Enhancement Opportunities Phase I report of 2010, which identified and evaluated the full spectrum of alternatives for increasing revenues for MDT. The Phase I study examined the sources of funds utilized to support transit locally, nationally and internationally, without filtering by factors such as feasibility or efficiency.
- CITT Recommendations on Revenue Enhancement, 2013
A series of studies funded by the Trust evaluated best practices nationally and internationally for both capital expansion and operating support funding sources. The result of this process is three sets of recommendations which are presented in the attached Memorandum to the Mayor and CITT Resolution No 13-003.
- Corridor Financing Report (2013)
a) Miami Beach Corridor - This study analyzes the potential of real estate value capture revenue to partially offset the cost of developing a new fixed-route transit line in the County. Although the proposed transit line connecting Downtown Miami to Miami Beach, popularly known as the Baylink project (“the Project”), is utilized as an example, the methodology detailed in this report and the value capture model developed can to be utilized for any corridor in the County.
b) 27th Avenue Corridor - This study, Innovative Financing Options for a Premium Transit System on NW 27th Avenue in Miami--‐Dade County (“the Report”) was requested by the Miami-Dade County’s Citizens’ Independent Transportation Trust (CITT) to examine the potential to use value capture techniques to partially fund transit improvements on NW 27th Avenue in Miami‐Dade County (“the County”). The Report estimates the potential funding that can be generated by value capture to support the development of a premium transit system on NW 27th Avenue.
- Value Capture and Innovative Financing Options for a Premium Transit System on NW 27th Ave in Miami-Dade County
Transit Performance and Expenses
- MDT Cost & Efficiency Study Vol.1: Peer Review and Trend Analysis (2011)
CITT contracted with CUTR to perform two primary tasks: to complete an objective assessment of the relative efficiency of MDT and to document actions, activities or policies that have been taken or enacted based on prior work done to assist the agency in creating a more efficient operating environment. Volume 1 is an operating cost analysis to determine how efficiently MDT was running, through an assessment of MDT’s efficiency in relationship to peer transit agencies. Each modal review (bus, rail, mover) contained an overview of general service metrics to establish the context for MDT’s transit operation in comparison to the peer group as well as a summary of the results of the performance metrics applied to MDT and the peer groups. Peers were identified from industry and demographic data using a methodology from a 2009 Transit Research Project.
- MDT Cost & Efficiency Study Vol.2: Synthesis of Previous CUTR Reports & Analysis (2012)
CITT contracted with CUTR to perform two primary tasks: to complete an objective assessment of the relative efficiency of MDT and to document actions, activities or policies that have been taken or enacted based on prior work done to assist the agency in creating a more efficient operating environment. Volume 2 is a review of the recommendations made during previous studies and analyses performed for the agency the identified potential improvements. CUTR synthesized and organized findings and recommendations, from 22 previous studies done over 10 years and classified in three categories. This report identifies status (adopted recommendations, alternative actions taken in lieu of recommendations) and quantifies results.
- NW 215th Street - Land Use & Planning Study for Highest & Best Use
Miami-Dade County in 2010 acquired approximately 14 vacant acres of land at the southwest corner of NW 27th Avenue and NW 215th Street utilizing Surtax funds. This land was purchased to support enhanced bus service in the short term and potentially rail service in the long term (part of the North Corridor of the PTP). In anticipation of enhanced bus service beginning in 2012, a land planning and urban design study is necessary to determine the highest and best short term and long term uses for the property. CITT utilized the County’s Department of Planning & Zoning (now Department of Regulatory and Economic Resources) Urban Design Center for this charrette-type effort and report.
The charrette included a Town Hall style meeting and was held at the North County Citizen's Association Homeowners Meeting in March 2011. There, residents and stakeholders were invited to sit down with members of the County's UDC to illustrate and brainstorm what their vision for the parcel could look like in the future. As a result of the meeting, the citizen's maps would become the backbone for the ultimate vision that integrates transit and land use to assure successful and well utilized transit facilities, as well as stimulating the land development and economic growth of the area.
- SR836 at NW 107th Avenue TOD Study
Miami-Dade County is implementing incremental improvements for rapid transit expansion projects of the People's Transportation Plan, including the East-West Corridor. This series of reports (3 in total) provides market, demographic and economic analysis in support of the potential land planning and urban design study and charrette to be performed by the Miami-Dade Department of Regulatory and Economic Resources (RER) as part of a potential SR836 Express Enhanced Bus Service Transit Oriented Development (TOD) for key points of the route’s alignment. The analysis includes: key population and household characteristics in the surrounding service area, 2. economic and market conditions, including employment patterns, local industries and current residential and commercial property values, and 3. opportunities based on market conditions and best practice case studies. Key findings address the population density available to support TOD according to Design Guidelines developed by the Florida Department of Transportation (FDOT). A primer on Advanced TOD concepts was also developed.
- Other resources: Corridor and Transportation Plans
Miami-Dade Metropolitan Planning Organization (MPO) in coordination with Miami-Dade Transit (MDT) developed Short and Near-Term Transportation Plans to lay a foundation for future transit improvements along other transit corridors in the County. MDT decided to enhance characteristics of bus mode to provide a better quality of service with more features. These transit improvements are referred to as "Enhanced Bus Services" (EBS).
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