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Executive Summary • DRAFT Ferry Financial Feasibilitv Studv & Cost -Benefit and Economic I <br />• Private Ferry Operations — Could privately -operated ferry operations use the terminal or <br />develop a parallel facility that benefits from shared landside connections? <br />• Public -Private Investment Opportunities — Investment may facilitate mid -Peninsula <br />employer and/or Redwood City development impacts (land value increase, new labor <br />market access). Do such impacts entice private project capital or operational expenses? <br />■ Ridership — factors that may affect ferry user decisions: <br />• Fare schedules — Long-haul ferry trip may be too high for individuals, affect ridership, and <br />require employer subsidies to offset. <br />• First/Last Mile Costs and Responsibilities — Ferry terminal location at the Port of Redwood <br />City requires identifying First/Last Mile connections. Partnering services include public <br />transit (SamTrans), employer -based Transportation Management Associations, public <br />shuttle service (commute.org), or privately funded shuttles (like were operated for the <br />Facebook Pilot Ferry Service). <br />• Regional Transportation Development— Notable transit and/or highway improvements that <br />greatly improve travel times between the mid -Peninsula and the proposed markets could <br />lower ferry ridership. Conversely, ferry travel times are fixed, so if comparable ground <br />travel times for other modes continues to degrade, ferry ridership could rise. <br />• New and Emerging Technology — Autonomous Vehicles (AVs) could impact ferry ridership, <br />either negatively if people see AV travel time as a productivity gain, or positively if AVs <br />cause even more congestion on freeways. Similarly, ferry service may also benefit by <br />advancements in vessel technology (lower capital or operating costs). <br />• COVID-19 ridership effects — Lasting effects on commuting are currently unknown, but it is <br />generally accepted that commute and work patterns should return to pre-COVID-19 <br />conditions in the four to five years it takes to implement ferry service. <br />Source: CDM Smith, 2020 <br />Smith <br />E-13 <br />