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Other Benefits <br />This report focused on three benefits -LRT ridership, property value and tax revenues, and conges- <br />tion relief on parallel roadways -that are both quantifiable and "place-based," meaning the benefits <br />can be more readily tied to particular locations. The list below shows a full range of benefits that <br />have been attributed to Light Rail Transit Investments, including ones difficult to quantify or ascribe <br />to specific locations. Note that development associated with an LRT investment is unlikely to result <br />in additional sales tax revenues, although it may affect where people make some purchases. <br />Table 6. Benefits of Rail Transit Investments <br />Environmental Benefits <br />• Reduced traffic congestion <br />• Reduced fuel consumption <br />• Better air quality <br />• Reduced sprawl and more efficient pattern of development at the regional scale <br />• Conservation of open space <br />• Shorter trip lengths due to more compact development <br />Economic and Fiscal Benefits <br />• Reduced or deferred road and parking facility costs <br />• Economic development benefits from agglomeration efficiencies and increased productivity <br />• Increased property values <br />• Increased property tax revenues <br />• Ability to reuse/redevelop property currently used for parking (e.g. Friday Center lot) <br />Social. Benefits <br />• Improved social cohesion through positive interactions among people in.a community <br />• Improved fitness and health as a result of increased walking and biking to access transit <br />• Reduced traffic accidents <br />• Improved transportation options, particularly for non-drivers <br />• Reduced consumer transportation costs <br />• Improved access to job opportunities for workers, increased labor market shed for employers; <br />improved ability to retain workers concerned with transportation costs and reliability <br />• Neighborhood revitalization and better links between workforce housing and job sites <br />• Expanded market access for customers and clients (e.g. to UNC clinics) <br />Note: List generated from discussion among Chapel Hill, Orange County, Durham City, Triangle Transit <br />and Triangle J COG staff at a meeting on March 25, 2011 and from the following reports: Fogarty, <br />Nadine et al. Capturing the Value of Transit, Center for Transit-Oriented Development, November 2008; <br />Cervero, Robert et al. Transit-Oriented Development in the United States: Experiences, Challenges, and <br />Prospects, Report 102, Transit Cooperative Research Program, 2004; Litman, Todd, Comprehensive <br />Evaluation of Rail Transit Benefits, Victoria Transport Policy Institute, June 2006. <br />Page 19 <br />