Local Funding Mechanisms and Evaluation of Economic Development Potential

SB Friedman was engaged as part of a team led by Crawford, Murphy & Tilly (CMT) to participate in a planning study of interchange alternatives in Wentzville, Missouri. The City of Wentzville is considering four interchange alternatives to facilitate the Wentzville Parkway South Extension and improve the connection between Wentzville Parkway and I-70.

As part of the process, SB Friedman qualitatively reviewed the relative impact that each of the four interchange alternatives and the at-grade vs. overpass railroad crossing will have on real estate development in the area immediately served by the improvement, from the perspective of understanding key metrics that impact economic development potential. SB Friedman also evaluated local funding potential for such an improvement.

SB Friedman provided the following services to the lead consultant:

  • Evaluate the Potential Economic Impacts of Transportation Improvements at the Intersection of Wentzville Parkway and I-70: SB Friedman reviewed the immediate impact that the improved interchange alternatives would have on adjacent businesses including potential acquisition and changes to rights-of-way. SB Friedman also reviewed how the interchange alternatives and the at-grade versus overpass railroad options would impact the following:
    • Retail market reach and sales potential for existing retailers located near the improvements;
    • Commute times for current and future residents
    • New residential, commercial and industrial development potential
  • Identify Financing Mechanisms: SB Friedman identified viable financing mechanisms to help pay for the local share of interchange improvement costs based on Community and Board desire and support for improvement, and willingness to pay for improvements via sales tax, property tax, or special taxing mechanisms (Transportation Development Districts (TDD), Community Improvement Districts (CID), and Neighborhood Improvement Districts (NID), and Taxing Increment Financing District (TIF)). SB Friedman considered implementation considerations related to local special taxing district options including: sources of revenue, advantages and disadvantages associated with each district typology, and potential boundary options that could be used for funding – e.g., citywide or a specific geographic area that would benefit from completion of the improvement.

Results: SB Friedman completed its analysis of interchange alternatives impacts on economic development patterns, and evaluated financing mechanisms to pay for transit improvements.