Pace Development Guidelines

D.  PACE JOINT DEVELOPMENT POLICY

Pace encourages the coordination of real estate development with transit facilities and services for the purpose of promoting public transportation in suburban northeastern Illinois. Joint development supports Pace's mission by providing a means to facilitate the delivery of efficient and cost-effective public mass transportation, to increase farebox recovery rates and to contain the agency's capital and operating costs. Pace promotes the joint use of properties for private and public sector development in a manner that is compatible with transit service delivery and public convenience. Pace also is committed to working with developers and public agencies that are interested in entering into joint partnerships for purposes consistent with Pace policies, goals and objectives.

Therefore, partners are sought to maximize the development of transit properties and co-develop real estate for projects that support public transportation and provide financial and/or locational benefits to the development partner, the local jurisdictions, the general public and the transit agency. The Board reserves the right to accept or reject all joint development proposals without cause. However, Pace will not participate in joint development projects where substantial transit benefits cannot be realized.

For this reason, joint development proposals are evaluated based on the following project characteristics: area transit facility and service needs; transit ridership projections and revenue generation; proposed and existing land use mix and densities; community interests; municipal development plans; start-up and ongoing capital and operating expenditures; site characteristics; project scope; land use and operating expenditures; site characteristics; project scope; land use and zoning regulations; traffic and parking impact; and environmental impact. In order to ensure that joint development agreements are negotiated in a timely manner, all such agreements will specify land use and density, private and public sector roles, infrastructure installation, architectural design, construction schedules, building maintenance aspects, and financial considerations including financing options and all necessary legal agreements with local jurisdictions.

In order to facilitate joint development, local officials are encouraged to establish comprehensive and consistent land use and zoning regulations that support joint development projects. Similarly, support is expressed for streamlining local regulatory processes governing joint development and for formulating intergovernmental agreements relating to regional development in general.

Pace is interested in pursuing joint development project proposals that meet the following objectives:

• To increase transit ridership and farebox revenues.
• To decrease transit operating expenses.
• To generate revenue through the lease, sale or con-development of Pace properties.
• To conserve grant capital by reducing land acquisition and construction costs through shared expenses.
• To facilitate economic development desired by local jurisdictions.
• To minimize property removed from tax rolls.
• To promote land use patterns and architectural designs that are conducive to transit operations in conformance with Pace plans, regional transportation programs, local development plans and community interests.
• To establish compatible development projects on transit properties for the enhancement of short-and long-range transit market potential.
• To improve the quality of life in suburban communities by increasing access to public transportation, minimizing traffic congestion, improving environmental quality through the reduction of vehicle emissions, fuel consumption and roadway expansions and by offering convenience facilities for transit users.

Revised: November, 1999.

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