Funding for the Proposed Kent Central Gateway Multimodal Transit ...

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The Kent Central Gateway also offers potential to connect to a potential future passenger rail station, which is being studied through a NOACA commuter rail study and the Ohio Hub project that identify options to route such passenger rail through Kent. • Project will improve accessibility and transport services for economically disadvantaged populations The scale of the KCG encompasses areas that include economically disadvantaged populations, defined as low- and very low-income households earning less than 80 percent of area median income. These areas, defined above, are profiled below in terms of the number of households earning less than $65,000 annually (AMI per HUD for Portage County): o o The downtown walkshed included 272 households that earned less than $50,000 in 2009 (data available provides number of households in the $50,000 to $74,999 income bracket), or 65 percent of the 419 households in the area. The driveshed surrounding the KCG included 35,370 households that earned less than $50,000 in 2009 (data available provides number of households in the $50,000 to $74,999 income bracket), or 45 percent of the 78,951 households in the area. (Source: HUD, ESRI Business Information Solutions) • Project is the result of a planning process which coordinated transportation and land-use planning decisions and encouraged community participation in the process The Kent Central Gateway project was identified in the City of Kent Bicentennial Plan (2004), which resulted from a thirteen month planning process that included public input via 45 community meetings. The plan coordinated transportation and land use planning decisions as its findings linked land use, transportation, economic and community development issues. 11
IV. Primary Selection Criteria – Job Creation and Economic Stimulus • Total amount of funds that will be expended on construction and construction-related activities: Estimated Construction Total (Including Public and Private Investments) = $ 25,100,000 • Number and type of jobs to be created and/or preserved by the project during construction and thereafter: During the construction period, a variety of new economic opportunities will be created. The construction will create at least 142 direct on-site jobs with an aggregate payroll of $6.497 million. Furthermore, these direct jobs will create 124 additional indirect, or spin-off, jobs off-site with an aggregate payroll of $4.9 million. Direct consumer expenditures will total roughly $9.253 million and an estimated $10.7 million in material purchases will be made, of which $7.9 million will be made in the Kent region. All amounts are in constant 2009 dollars to avoid counting any inflationary impacts. Construction Employment Impact Total FTE (6/)(7/) Average Earnings /Hour (1/) Consumption Expenditures (3/) Disposable Total Income Earnings (2/) Construction 142 $ 22 $ 6,497,920 $ 5,874,119 $ 5,274,958 Spin-off Employment Impact (4/)(5/) 124 $ 19 $ 4,900,480 $ 4,430,033 $ 3,978,169 Total Impact 266 $ 11,398,400 $ 10,304,152 $ 9,253,127 Assumes construction period of 1 year min. 1/ May 2008 Bureau of Labor Statistics Occupational Wage Estimates for Construction Sector for Pittsburgh MSA, inflated 3 percent annually to 2009 dollars 2/ Disposable Income was 90.4% of Personal Income as of May 2009, Bureau of Economic Analysis 3/ Consumption Expenditures was 89.8% of Disposable Income as of June 2006 (revised), Bureau of Economic Analysis 4/ 1997 Employment Multiplier Estimates Per $1 Million Income for Construction Sector, RIMS II Model (1.8728) 5/ 1997 Earnings Multiplier for Construction Sector, RIMS II Model (1.7718) 6/ FTE indicates "full-time equivalent", working 2,080 hours annually 7/ Employment estimates from 2009 Downtown Kent Revitalization Stimulus Funding Request Construction Material Purchase Impact Construction Cost (1/) $ 25,100,000 Per $1,000 Type of Purchase Const. Cost Expenditure Regionally Purchased $305 $7,655,500 Purchased Out of Region $105 $2,635,500 Total Material Purchases $10,291,000 Percentage Total Purchases 74% 1/ Construction cost includes planning and feasibility, preliminary A/E and Phase II ESA, estimated remaining A/E and property acquisition, estimated office and retail tenant improvements, estimated upper levels of parking and estimated facility construction Sources: Basile Baumann Prost Cole & Associates, Bureau of Labor Statistics, Bureau of Economic Analysis, Downtown Kent Revitalization Stimulus Funding Request, April 2009 12
Page 1: TIGER Discretionary Grant Applicati
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Project Details Project Kent Multim
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Funding for the Proposed Kent Central Gateway Multimodal Transit ...

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