Regional Value Capture Feasibility Study
Overview
Purpose
In 2023, WestCOG engaged a consultant team (AECOM, Fitzgerald + Halliday, and Goman + York) to conduct this Study to determine whether Value Capture techniques can be employed to create financial resources that can help implement planned rail improvements on the Danbury and New Canaan Branches of the Metro-North Railroad.
Background
WestCOG applied for and was awarded a $500,000 USDOT BUILD grant that was increased to $600,000 for this work. The Study began in April 2023 and is scheduled for completion in March 2025.
Discussion
To date, the team has:
- Evaluated existing land use and economic conditions within the region, focused on the nine municipalities that are currently directly served by Metro-North Railroad plus two that have been considered for future service;
- Developed rail improvement scenarios using best available information from CTDOT;
- Conducted a high-level legal and governmental analysis to assess potential for implementing various types of value capture techniques, and
- Estimated the amount of new development and tax revenue to be created given assumptions for implementation of specific rail projects.
Current
The Study has had the active participation of an Advisory Committee. At various points, the team has presented its work to the Committee, which is comprised of representatives from the involved municipalities, CTDOT, and the operating railroads which use the Branch Lines (Metro-North, Housatonic). The team has also conducted interviews with other stakeholders and is now reaching out further to engage and obtain feedback as it prepares a Financial Plan and an Implementation Plan.
Schedule
The Study began in April 2023 and is scheduled for completion in March 2025.
Documents
PAC#1_Meeting_presentation_071423.pdf
PAC#2_Meeting_presentation_092723.pdf
PAC#3_Meeting_presentation_111523.pdf
PAC#4_Meeting_presentation_012424.pdf
PAC#5_Meeting_presentation_071724.pdf
