5a

Alternative Paths to Implementation

The public and private stakeholders with direct influence on the future of the NY5 corridor have expressed interest in and support for the preferred future scenario. The implementation actions (what needs to happen) and implementation mechanisms (how it can be accomplished) have been outlined. The remaining question is to determine the level of commitment to implementation. How serious about implementation are the elected and appointed officials in the communities along the corridor? What priority does the NY5 corridor have within the regional transportation plan? Among CDTA's various responsibilities? How likely will property owners see the benefit of a collaborative corridor redevelopment program? Will regional efforts provide sufficient growth to support revitalization of the corridor?

The answer to these and similar questions will dictate the appropriate strategy and timetable for implementation of the preferred future. Three potential implementation paths include

1. Nominal Support Path

2. Steady Support Path

3. Accelerated Support Path

CAPITAL BUDGET
Attaining the Preferred Future will require steady and constructive investment by both private and public sectors. Substantial funds will be required from both sectors to achieve the goals of the Capitalize Albany initiative in downtown Albany and the City of Schenectady's downtown master plan. (The full buildout of the Western Gateway Intermodal Center, including the private office building, is estimated to cost $30 Million alone, for example.) Regular and recurring redevelopment of existing commercial sites over the coming years will total hundreds of millions of dollars of capital investment prior to full implementation of the corridor plan. From this perspective, the requirements for highway and transit infrastructure appear large, but within reason. There is a significant opportunity to implement aspects of the Preferred Future in conjunction with routine highway rehabilitation, making the incremental cost of the corridor plan more manageable. Further, the preferred future's commitment to Bus Rapid Transit allows implementation of a "high-end" transit system feasible immediately, with completion over time at varying paces depending upon available funding. The total capital cost of the highway and transit system recommendations of the preferred future for the corridor is slightly in excess of $200 Million. This can be divided roughly as shown in the table below Components of Capital Budget			*Alternative Paths to Implementation* The public and private stakeholders with direct influence on the future of the NY5 corridor have expressed interest in and support for the preferred future scenario. The implementation actions (what needs to happen) and implementation mechanisms (how it can be accomplished) have been outlined. The remaining question is to determine the level of commitment to implementation. How serious about implementation are the elected and appointed officials in the communities along the corridor? What priority does the NY5 corridor have within the regional transportation plan? Among CDTA's various responsibilities? How likely will property owners see the benefit of a collaborative corridor redevelopment program? Will regional efforts provide sufficient growth to support revitalization of the corridor? The answer to these and similar questions will dictate the appropriate strategy and timetable for implementation of the preferred future. Three potential implementation paths include 1. Nominal Support Path 2. Steady Support Path 3. Accelerated Support Path
Component	Current TIP	Full Cost
Highway Rehab and Enhancement	$ 25 M	$ 104 M
Bus Rapid Transit	$ 12 M	$ 25 M
Boulevard	$ 0 M	$ 25 M
Utilities	$ 0 M	$ 33 M
Signals, other	$ 4 M	$ 20 M
TOTAL	$ 41 M	$ 207 M
Note: "Current TIP" reflects 1999-01 Committed Column and 2001-06 Program, Implementation Paths and Milestones