2020/12/16 Council Agenda Packet

Deliverables: Service Network Definition for each five year period to include the descriptive metrics list in the task objectives. Operating and Capital cost updated estimates for each five-year period. Task 3.4 - Financial Model Overall, there is a need to ensure each of the alternatives is constructed on a financial model that includes the ability to maintain common assumptions and to vary and note assumptions as different, as appropriate. The purpose is somewhat similar to the common set of metrics, but this is pointed toward a more singular metric of financial sustainability. Acommon element will be revenue projections annually through 2040, based on most current projections, and occurrences within the City of Everett. The financial model will allow assessment of financial sustainabilityspecificallyfor the City of Everett with varying levels of risk in terms of expenditure and varying revenue forecasts. To be very clear, this will not result in a long-term financial plan for Everett Transit or Community Transit. The purpose is to structure a model to ensure equal treatment of each alternative from the financial perspective of the City of Everett and to spotlight important differences and considerations. It is important to understand that the Unified Option will not have a directly comparable financial model. This is because Everett would become part of Community Transit s financial framework. The ability to specifically isolate and make comparable to a financial model for the City of Everett is difficult, at best, and filled with assumptions and compromises, at worst. The measures of consideration for the City of Everett will rest on the mobility benefits accrued by following the pathway to a unified system, which can be comparable. There will be some city -specific financial considerations for Everett to be aware of if the unified option is identified as the preferred option The model will seekto represent those financial considerations on an equal basis. However, the full financial outline of transit service in the City of Everett under the Unified Option will not be developed to a directly comparable level. Deliverables: Documented City of Everett financial model with each alternative documented and carried out to 2040. White paper to denote issues of significance between the models. Task3.5 -Report to Council The scope of task is a planning -based scope with planning -oriented outcomes. What was learned in Phase 1 outreach is that the planning orientation needs to translated into more common parlance to achieve effective outreach with members of the general public. This process for Phase 1 this was relatively straightforward. Phase 2 features the outcome evaluations of three different transit network plans. The outcome metrics discussed in the task objective are based on technical evaluations that may, or may not, be meaningful to members of the general public. Part of the planning task is to contribute to the translation process to ensure there is a digestible information that allows people to make comparisons with information that is understandable and not information that requires a significant technical alignment to understand. A significant amount of time will be required to move the outcomes - based data into a digestible "story " The unique part of the story is the need to remain neutral, while also pointing out the important differences in outcomes between the three options. This will require Page 14of17