Abstract:
Recognized not only for its nostalgic charm, but also for being a clean and cost-efficient mode of transportation, the electric streetcar is today enjoying a revival in Tampa and across the United States. In 1996, Hillsborough Area Regional Transit formed a partnership with the city of Tampa and the community to develop the first line of a streetcar system. This first line, approximately 3.77 km (2.34 mi.) in length, is strategically located to allow for convenient front door service between six hotels, the convention center, major entertainment venues, multiple cruise terminals, the Ice Palace, Florida Aquarium, parking facilities, and residences. The system will enable visitors and citizens alike to move safely and efficiently from one place to another without the need for an automobile. The capital cost of the project, approximately $27 million, is derived from six different funding sources spread over a period of 6 years. Operating revenues, estimated at $1.2 million annually, will be derived from earnings on an endowment fund, a special assessment district, fares, and advertising. Unlike a government agency, Historic Streetcar, Inc. - a nonprofit corporation formed to manage the operation of the system - will have the ability to invest available revenues to support future operation of the system. With system construction under way and two of eight new double-truck Birney replicas delivered, the private sector has responded with over $800 million in new capital investment along the line. In addition, the private sector has committed $6.5 million to date toward the endowment fund.
Supplemental Notes:
This paper is available on the CD-ROM, Light Rail: Investment for the Future, 8th Joint Conference on Light Rail Transit.
