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The Washington Metropolitan Area Transit Authority (WMATA) recently received the National Council for Public-Private Partnerships’ 2006 Public-Private Infrastructure Award for the New York Avenue Station project.
The $109.9 million station, which opened in November 2004, was financed through a partnership with private landowners, who created a special taxing district for the land in and around the station. Landowners were charged a “Metro Benefit Assessment Fee” based on the value of their property, which generated $25 million for station development.
In addition, the district contributed $60 million in general funds and donated land for the station. The federal government provided $25 million for the project.
11/20/2006
Rail News: Rail Industry Trends
WMATA receives recognition for New York Avenue Station public-private partnership
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The Washington Metropolitan Area Transit Authority (WMATA) recently received the National Council for Public-Private Partnerships’ 2006 Public-Private Infrastructure Award for the New York Avenue Station project.
The $109.9 million station, which opened in November 2004, was financed through a partnership with private landowners, who created a special taxing district for the land in and around the station. Landowners were charged a “Metro Benefit Assessment Fee” based on the value of their property, which generated $25 million for station development.
In addition, the district contributed $60 million in general funds and donated land for the station. The federal government provided $25 million for the project.
