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appropriate. A screening workshop will be held with City staff and key cost-sharing partners to develop and refine the screening criteria used to prioritize these sources and assess their feasibility for the project. This "short list" will become the basis for a financial plan and capture strategy. The Consultant will review the highest-ranked sources to emerge from the screening workshop. The revenue potential of these sources will also be assessed on an "order of magnitude" basis and compared to the project cost estimates. The results of this comparison will be a planning level assessment of revenue sufficiency for the capital and operating needs of the new streetcar/urban circulator. Economic Benefits The Consultant will address the economic considerations, including answering the following key questions: • How can a streetcarlurban circulator enhance economic opportunities for existing properties and businesses? • How can a streetcar/urban circulator create incentives for development at higher values or densities than may otherwise occur on underutilized sites? • How can a symbiosis between streetcarlurban circulator service and real estate be created whereby the performance of each is enhanced by the other? • What is the cost-benefit relationship for one type or alignment of a streetcarlurban circulator service versus another? • How can streetcar/urban circulator service be financed, and to what extent does the financing relate to the benefits created by the system itself? The Consultant will explore the extent to which different transit alternatives - modes and alignments - can provide incentive for and support real estate and economic development. This analysis will include the creation of an effective planning and funding organization, public/private partnerships, and assessment or other funding districts. Deliverable: Financial feasibility memorandum Task 1.8 — Select Preferred Alternative The Consultant will collaborate with the City to identify the preferred alternative based upon the evaluations and analysis conducted in this study. The ability of the preferred alternative to satisfy the project goals will be assessed in comparison with the other alternatives and a justification for the preferred alternative will be prepared. The City and the Consultant will consider an additional meeting with the key project stakeholders and review with them the findings of the study and the rationale for the selection of the preferred alternative. Deliverable: Preferred alternative memorandum Task 1.9 — Conclusions and Recommendations The Consultant will prepare a project summary report which presents the results of all of the above tasks in a readily understandable format suitable for public release. The summary report will be supported by an appendix which includes the final versions of all REV: 01-06-16 VR Page 13 of 17 ATTY/AGR.2016.003/CDM Smith - Streetcar and Downtown Transit Center