nymtc regional freight plan - New York Metropolitan Transportation ...
nymtc regional freight plan - New York Metropolitan Transportation ...
nymtc regional freight plan - New York Metropolitan Transportation ...
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A Freight Plan for the NYMTC Region<br />
• <strong>New</strong> <strong>York</strong> State’s Multimodal Program and Industrial Access Program – The<br />
Multimodal program was enacted in 1996 with an authorization of $350 million over<br />
four years. This fund has been primarily used for small projects of $1 million or less.<br />
For example, the fund recently provided one million dollars to the Noco Energy<br />
Corporation to expand its rail terminal in Towanda, <strong>New</strong> <strong>York</strong>. The Industrial Access<br />
Program provides no interest loans for road or rail access to industrial or commercial<br />
sites. One of the criteria for project selection is employment generation.<br />
Other proposals to improve public funding of <strong>freight</strong> projects have been advanced over<br />
the last few years, including special <strong>regional</strong> infrastructure banks for <strong>freight</strong> projects that<br />
have benefits beyond a single state, and tax credit bonds to finance a competitive or<br />
formula-driven list of projects.<br />
• 7.4 Recommendations<br />
The foregoing analysis has demonstrated the need for setting priorities and making<br />
choices within and across funding categories and modes – highways and rail, passenger<br />
and <strong>freight</strong>. It is highly unlikely that all of the major transportation investments currently<br />
being studied in the region will be funded in the next round of Federal transportation<br />
authorization, or beyond in the coming decades. This study has attempted to identify<br />
projects that would be most beneficial to <strong>freight</strong> movement in the region, and to chart a<br />
path forward for decision-makers. If the region cannot agree upon a shared agenda for<br />
transportation investment, it will lose out in the competition with other regions for<br />
earmarked projects and other funding sources.<br />
Other initiatives can be taken at the state and local levels:<br />
• Freight infrastructure needs require dedicated sources. <strong>New</strong> <strong>York</strong> State should<br />
consider refinancing its Local Rail Assistance Program along the lines of programs in<br />
Pennsylvania, Michigan, and Illinois.<br />
• Public/private or joint funding may have applicability in the construction and<br />
operation of rail <strong>freight</strong> yards, intermodal facilities, and highway facilities. Public/<br />
private funding has been used for projects such as those shown in Table 7.1. This type<br />
of financial arrangement helps maximize the amount of funding that could be available<br />
for a project. A report by the Federal Highway Administration titled Funding and<br />
Institutional Options for Freight Infrastructure Improvements, stresses that “project<br />
partnership formation is essential in developing major <strong>freight</strong> infrastructure projects.”<br />
Decision-makers should examine opportunities in zoning and tax incentives to<br />
encourage developers to become financially involved in the construction of warehousing<br />
and distribution facilities.<br />
Cambridge Systematics, Inc. 7-8