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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)
This report examines innovative development and funding tools to help achieve MDT and Miami-Dade County’s transportation capital planning objectives and strengthen its operating cash flows. It includes discussion of funding sources and financing mechanisms; specific case studies of other transit agencies’ experiences using innovative finance or public-private partnerships; and application of a selection filters approach to several MDT capital projects.
- Revenue Enhancement Opportunities, Phase 1 (2010)
This report is to identify and analyze operating revenue enhancement opportunities for Miami-Dade Transit (MDT), to contribute to the discussion on how to close projected funding gap identified in the Transit Pro-Forma – a financial document on the long term expenses and revenues projected to be available to MDT and has been presented publicly on a number of occasions. This initial effort is designed to survey the full range of revenue enhancement opportunities utilized locally, nationally and internationally, without filtering.
- Revenue Enhancement Opportunities, Phase 2 (2011)
This report is the third in a multi-year series of studies designed to help improve the financial outlook of Miami-Dade Transit (MDT). Building upon the Revenue Enhancement Opportunities Phase 1 report of 2010, this Phase 2 develops an implementation plan for the selected potential revenue streams that includes the required steps, responsibilities, cost, and challenges, as well as the likely range of revenue for MDT. This report shows the total potential revenue of the shortlisted revenue programs and how they contribute to fill in MDT’s $36 Million deficit in FY 2014.
- CITT Recommendations on Revenue Enhancement, 2013
This agenda item highlights the FY 2014 financial funding gap facing Miami-Dade Transit and recommends for consideration a series of possible ideas to bridge the gap. It should be highlighted that these potential revenue opportunities are proffered in order to stimulate discussion and public discourse. There are pros and cons associated with each funding source and the dialogue should fully include the agencies and governmental entities involved. The solution to bridging the funding gap may or may not include these sources and new sources may emerge. It is important to begin the dialogue. In total over 30 funding sources were considered, resulting in 13 of them grouped into three sets of recommendations which are presented here: most promising, potential consideration after further collaboration, and not recommended.
- Corridor Financing Report (2013)
This report analyzes the potential of real estate value capture and parking revenue to partially offset the cost of implementing (and potentially operating and maintaining) a new fixed-route transit line in the County. Although the proposed transit line connecting Downtown Miami Beach is utilized as an example, the methodology detailed in this report and the value capture model developed can be utilized for any corridor in the County. The report details three value capture methodologies that the County could use to help finance the project, as well as considers the revenue that could be generated by increasing parking fees in Downtown Miami and Miami Beach. Other traditional and innovative funding sources are also briefly discussed.
- Applying Innovative Financing Options for a New Fixed-Route Transit in the Miami-Dade County
- Applying Innovative Financing Options for a New Fixed-Route Transit Line in Miami-Dade County (1.55 MB)
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.
- An Analysis of Miami-Dade Transit's Operating Cost Efficiency Part II
- Evaluating Innovative Financing Opportunities for Miami-Dade Transit (1.92 MB)
- An Analysis of Miami-Dade Transit's Operating Cost Efficiency Volume Two, Report Synthesis(1.21 MB)
- Full Roster of Cost Analysis and Other Studies of MDT-2001-10 by CUTR
- 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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