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Executive Summary • DRAFT Ferry Financial Feasibility Study & Cost -Benefit and Economic Impact Anal <br />Based on the results of these evaluations the Study concludes that a Redwood City based ferry service <br />is feasible and that the project should move to the next phase, business plan development. Should <br />Redwood City decide to pursue a new ferry terminal and ferry services, the next phase, the Business <br />Plan, will identify how to fund capital and operational ferry expenditures, grow and maintain <br />ridership, and support last -mile connections. <br />Ferry service to and from Redwood City requires a significant and ongoing public investment. Funding <br />for capital and operation expenditures is anticipated to come largely from regional sources such as <br />San Mateo County's Measure A and Regional Measure 3. Redwood City can play a role in ensuring <br />successful ferry service. This can include requiring new developments in the area to contribute to <br />transportation demand management measures that support ferry service and last -mile connections, <br />or to secure/advocate for shuttle operation funding. While the Study does identify possible funding <br />sources for ferry service, the Study largely focuses on determining whether the new service is feasible <br />as defined by the five areas above. <br />E.2 Summary and Key Findings by Section <br />The following subsections summarize major work tasks findings relative to the five feasibility <br />perspectives. The summary is based on the content of the eight sections of this report starting with <br />the introduction in Section 1. <br />E.2.1 Existing Conditions Analysis <br />Section 2 of the report examines if this potential ferry service would be consistent with existing <br />planning in the area, and it examines the existing conditions related to potential public commuter <br />ferry service in Redwood City. <br />Source: WETA, 2020 <br />Consistency with Redwood City Plans and <br />Goals — As the lead agency for this Study, <br />Redwood City has seen the potential for <br />establishing public ferry service for many <br />years. The mid -Peninsula location and <br />active, deep -water port make Redwood City <br />a viable location for a public ferry terminal. <br />■ The Circulation Element of the 2010 <br />Redwood City General Plan — Redwood <br />City's Blueprint for the Future, calls out <br />support for establishing ferry service. The <br />General Plan identifies ferry service as an <br />environmentally sustainable alternative to <br />car commuting that has the additional benefit of being a water-based emergency evacuation <br />route in the event of a major disaster. <br />■ 2018 Citywide Transportation Plan RWCmoves — Commuter Ferry Service is one of ten <br />"Signature Projects" that also include six railroad grade separations, three transit projects, and <br />a highway interchange improvement project. The plan established that once ferry service is <br />deemed feasible and fundable, the next step would be to design and construct a terminal and <br />coordinate with WETA for operations. Signature Projects are major changes to infrastructure <br />E-2 Smith <br />