NTRAC Final Study - Nebraska Department of Roads - State of ...

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CHAPTER 8 – FINANCIAL AND ECONOMIC EVALUATION Benefits of Potential Traffic Diversions The diversions of traffic from I-80 and other State highways would generate a wide range of benefits, including: Direct traveler benefits Indirect traveler benefits Societal benefits Direct Traveler Benefits Direct traveler benefits accrue passengers because trips are taken by train or bus instead of by highway vehicle. Direct traveler benefits may include: out-of-pocket cost savings, reductions in travel time, improvements in travel-time reliability, and enhanced safety or lower accident risks. Time and cost-related benefits depend upon the relative rates, travel times, and travel-time variances of rail and bus modes in 2010. For example, if train fares are lower than the cost of automobile travel (including parking costs) in 2010, rail passengers will experience direct benefits from traveling by rail instead of by highway. Direct traveler safety benefits are quantified by comparing current vehicle and rail accident rates and assuming that the relative risks of travel remain unchanged for the analysis period. Indirect Traveler Benefits The removal of automobiles from Nebraska highways will free-up scarce highway capacity for other users. Thus, benefits will accrue to highway travelers who are not directly involved in the traffic diversions. Higher average travel speeds and fewer delays will result in travel-time savings for all highway travelers. Moreover, fewer accidents and accident-related delays will result in lower crash costs. Societal Benefits Car traffic diversions may benefit all members of society, even those persons who do not travel in the I-80 and other corridors considered in this analysis, because of reductions in energy consumption, air pollution, and noise. Rail and bus passenger travel is more energy-efficient than automobile travel. It is not practical to analyze societal costs in this study. Reductions in fuel consumption may lower railroad, bus and automobile operating costs. The magnitude of these cost savings will vary with the market price of fuel. However, the market price of fuel may not reflect its true long-run cost if the value of “energy security” could be quantified. Noise impacts are localized phenomena that depend upon existing noise levels, the location of highway and railroad facilities in relation to residential land uses and sensitive noise receptors, the presence of noise barriers or rows of buildings that act as acoustical shields, and the distribution of traffic among daytime and nighttime hours. A very detailed study of individual highway and railroad segments would be necessary before inferences could be drawn about potential noise impacts. 384180 NEBRASKA TRANSIT CORRIDORS STUDY Page 8 - 14 WILBUR SMITH ASSOCIATES
CHAPTER 8 – FINANCIAL AND ECONOMIC EVALUATION Overview of Analytical Framework and Data Framework for Comparison In order to estimate the benefits of highway-to-rail/bus traffic diversions, it is necessary to compare conditions for two scenarios. In the null case, no traffic is diverted from Nebraska highways to trains and buses. Both passenger travelers drive I-80, US 275, NE 133, etc. The null case is the benchmark against which all traffic diversion scenarios are analyzed. In a diversion scenario, a portion of the projected 2010 highway traffic is shifted to railroad and bus modes. Train and bus riders are compared to drivers in the null case. Benefits are estimated from changes in accidents, traveler costs, and congestion. Comparisons between modes are made using average or marginal costs. Marginal cost is the change in cost associated with a small change in travel activity. Marginal costs are typically measured on a vehicle-mile of travel (VMT) basis. For some impacts, marginal cost estimates are not available for various modes, i.e. car, bus, commuter train, and intercity train. In these cases, the average cost of each mode is used in the comparison. To both simplify the presentation and show the savings in the best possible light, total savings are calculated using the assumption of the high end of the ridership range. Economic savings generated by the low end of the ridership range would naturally be less. While the calculations are shown to the dollar, allowing the reader to “do the math”, realistically, the figures should be considered approximate. Primary Data Sources The primary sources of data used in the impact analysis are: Nebraska Department of Roads statewide accident rates per section for Interstate, fourlane, and two-lane highways Comparative statistics from Iowa Accident statistics from Highway Statistics 1994, Federal Highway Administration (FHWA) The Economic Cost of Motor Vehicle Crashes - 1994, National Highway Traffic Safety Administration The Economic Impact of Motor Vehicle Crashes - 2002, National Highway Traffic Safety Administration Marginal unit costs of highway travel from the 1997 Federal Highway Cost Allocation Study: Final Report of the Federal Highway Administration Rail passenger safety data from Amtrak as reported by the Federal Railroad Administration Vehicle operating cost data from the American Automobile Association 384180 NEBRASKA TRANSIT CORRIDORS STUDY Page 8 - 15 WILBUR SMITH ASSOCIATES
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Nebraska Transit Corridors Study Co
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EXECUTIVE SUMMARY between 141,000 a
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TABLE OF CONTENTS Executive Summary
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TABLE OF CONTENTS Chapter 8 Financi
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Chapter 1 STUDY PURPOSE AND METHODO
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CHAPTER 1 - INTRODUCTION Table 1-1
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CHAPTER 1 - INTRODUCTION services,
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North Platte Lexington Kearney Gran
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NEBRASKA CORRIDORS STUDY Figure 2-2
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EXISTING CONDITIONS TRAVEL PATTERNS
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EXISTING CONDITIONS Table 2-3: Summ
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EXISTING CONDITIONS changing lanes,
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EXISTING CONDITIONS expressway. Als
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EXISTING CONDITIONS CORRIDOR RAIL L
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EXISTING CONDITIONS airports, which
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Chapter 3 RIDERSHIP POTENTIAL INTRO
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CHAPTER 3 - RIDERSHIP POTENTIAL the
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CHAPTER 3 - RIDERSHIP POTENTIAL Gre
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CHAPTER 3 - RIDERSHIP POTENTIAL Tab
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CHAPTER 3 - RIDERSHIP POTENTIAL 2.
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CHAPTER 3 - RIDERSHIP POTENTIAL SUM
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Chapter 4 TECHNOLOGY OPTIONS INTROD
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CHAPTER 4 - TECHNOLOGY OPITONS Sit
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CHAPTER 4 - TECHNOLOGY OPITONS Sit
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CHAPTER 4 - TECHNOLOGY OPITONS subu
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CHAPTER 4 - TECHNOLOGY OPITONS Tabl
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CHAPTER 4 - TECHNOLOGY OPITONS Trai
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CHAPTER 4 - TECHNOLOGY OPITONS FIND
Page 76 and 77: CHAPTER 5 - COMMUTER RAIL PLAN MINI
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Page 93: Chapter 6 EXPRESS BUS PLANS INTRODU
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Page 99 and 100: CHAPTER 6 - EXPRESS BUS PLANS Table
Page 103 and 104: CHAPTER 6 - EXPRESS BUS PLANS Five
Page 107 and 108: Chapter 7 ENVIRONMENTAL AND SOCIAL
Page 109 and 110: CHAPTER 7 - ENVIRONMENTAL AND SOCIA
Page 111 and 112: CHAPTER 7 - ENVIRONMENTAL AND SOCIA
Page 113 and 114: Chapter 8 FINANCIAL AND ECONOMIC AN
Page 115 and 116: CHAPTER 8 - FINANCIAL AND ECONOMIC
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Page 137 and 138: Chapter 9 NEXT STEPS TOWARD IMPLEME
Page 139 and 140: CHAPTER 9 - NEXT STEPS TOWARD IMPLE
Page 141: APPENDICES
Page 144 and 145: APPENDIX A - RIDERSHIP COMPARISONS
Page 147: Appendix B COMMUTER RAIL COSTS Appe
Page 150 and 151: Coffee and water per month 100 Annu
Page 152 and 153: Advertising per month 4,000 Telecom
Page 154 and 155: Table B-2b Omaha Suburban Station E
Page 156 and 157: Table B-2d Lincoln at N. 48th St. S
Page 158 and 159: Table B-3a Lincoln Maintenance Faci
Page 160 and 161: Table B-4a Melia Siding Description
Page 162 and 163: Table B-4c Chalco Siding Descriptio
Page 165 and 166: Table C-1 Fremont Park-and-Ride Cos
Page 167: Appendix D NTRAC MEMBERS The follow
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