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Deliverables: Transit modes assessment memorandum <br /> Task 1 .5 — Institutional Analysis <br /> This task will investigate the institutional and legal implications of various options for <br /> establishing the system and providing ongoing maintenance and operations. The options <br /> for consideration include: <br /> • Redwood City would own and operate the system <br /> • Redwood City would own the system and contract out operation to a transit agency <br /> or a private operator <br /> • A private entity would own and operate the system under an agreement with the <br /> City <br /> • An existing transit agency would own and operate the system or contract out the <br /> operation to a private entity <br /> • A new transit agency or a non-profit organization would be formed to own and <br /> operate the system <br /> Deliverables: Institutional assessment memorandum <br /> Task 1 .6 — Develop Ridership/Demand Forecast <br /> The Consultant will use their local area travel models which are based on existing and <br /> expected future land use densities to determine total travel demand and the potential <br /> demand for short transit trips in a given area. The model is sensitive to where the transit <br /> stops will be located and the speed and frequency of the service. The level of transit <br /> demand calculated will be compared with the actual experience of other similar systems <br /> in terms of densities and service types to ensure that the estimate are reality based. <br /> Deliverables: Ridership/demand forecast technical memorandum <br /> Task 1 .7 -- Financial Feasibility Analysis <br /> Project Costs and Revenues <br /> This task will involve an assessment of costs and revenues: <br /> 1 . An estimate of the capital costs of construction of the streetcar or urban <br /> circulator including the purchase of the vehicles to include all typical soft costs <br /> for planning and design, and construction management. <br /> 2. An estimate of the annual costs of operation of the service. <br /> 3. An estimate of potential fare box revenues under various payment scenarios. <br /> Funding Evaluation <br /> The Consultant will first identify a "long list" of potential sources with funding availability <br /> and develop a strategy to capture those funds. This may include a combination of user <br /> fees, local, regional, state, federal, and private funds as shown below. Starting with a <br /> "long list" of options, the Consultant will help the City prioritize funding opportunities in <br /> terms of potential revenue yield, likelihood of securing funds, relevance to the project, <br /> local match required, ability to leverage funds, and other criteria, as deemed appropriate. <br /> A screening workshop will be held with City staff and key cost-sharing partners to develop <br /> and refine the screening criteria used to prioritize these sources and assess their <br /> feasibility for the project. This "short list" will become the basis for a financial plan and <br /> ATTY/AGR.2016.053/CDM Smith <br />