Invited Luncheon Presentation
Hosted by the Canadian Institute of Transportation Engineers
NCR Chapter, 10 Nov 2016
The usual financing model for the development and operation of major transit service relies upon federal and provincial transfer payments, municipal property tax increases, and passenger fares. But Moose Consortium is developing a 400 km metropolitan passenger rail system that relies upon none of those.
The “Property-Powered Rail: Open Market Development Model” introduces a “platform business” in which:
• Each station is owned by a “Common Elements Freehold Condominium Corporation” (“immeuble en copropriété de titre franc pour parties communes”);
• Individual stations can be private or public sector; profit-oriented or not-for-profit;
• An independent authority on real property value is relied upon, with appropriate transparency and peer review, to statistically attribute the “option value” increment in average actual property asset and income values within an easy walk of the station (0.8 km), due to the provision of train service;
• Each station can subscribe to the train service in exchange for a fee expressed as a proportion of that average marginal increment in auditable asset and income values;
• The monthly subscription fee for train service, plus the total costs of the developing and operating the station, together establish the aggregate amount that the Common Elements Freehold Condominium Corporation shall collect from the participating units.
Moose Consortium Inc. (Mobility Ottawa-Outaouais: Systems & Enterprises) will explain why and how this model is being implemented throughout Canada’s Greater National Capital Region, and will illustrate some of the surprising ways this approach improves the entire incentive structure around transit, with practical examples from the domain of health and safety.
Date: Thursday November 10, 2016
Time: 11:30 AM – Networking – 12:00 PM – Lunch and Presentation
ARC The.Hotel Ottawa
140 Slater Street