04 - Laserfiche WebLink

Tri-Valley Transportation Council │ 2020 Nexus Fee Update Study August 2021 │ Final ii Note: Hours of delay are based on trips with origin or destination in the TVTC region. UPDATED FEE The total investment for projects eligible to receive TVTDF funding is estimated to be $4.470 billion, where $3.677 Billion is unfunded. An additional reduction was applied to account for external “cut-though” trips on roadway congestion projects. Future development within the Tri-Valley area is not responsible to pay for these trips since these trips are caused by growth outside of the Tri-Valley area. This reduces the total unfunded cost to be covered by the maximum TVTDF to $2.928 billion. Note that this does not change the overall project costs. The $2.928 billion unfunded cost was allocated across future development land use type based on the proportion of forecast peak-hour trips to determine the Total Fee per Land Use. Then the maximum fee schedule was determined by dividing Total Fee per Land Use by the 2020-2040 Growth as shown in Table E-1 below. Table E-1: Maximum Fee by Land Use Category Land Use Type Growth Maximum Fee Single-Family Residential 15,857 DU $43,976 per DU Multi-Family Residential 17,456 DU $25,928 per DU Retail 5,117,500 SF $84.52 per SF Office 6,796,800 SF $58.72 per SF Industrial 9,289,800 SF $33.81 per SF Other 12,441 trips* $50,839 per trip* * Average AM/PM trip The maximum fee schedule shown in in Table E-1 would generate sufficient revenues to fund the total unfunded cost of all selected projects, however TVTC jurisdictions are not obligated to apply this fee schedule. For instance, the TVTC jurisdiction set rates at approximate 1/3 of the maximum fee calculated in the 1995 and 2008 Nexus studies to help foster growth within the Tri-Valley area, while providing a regional funding source that could be used to match and help compete for Federal and State transportation grants and funding programs.