HomeMy WebLinkAboutIR 7483 INFORMAL REPORT TO CITY COUNCIL MEMBERS No. 7483
PIP T E pq
4FO
0 J?7X To the Mayor and Members of the City Council August 14, 1990
0
Subject: Update on the Feasibiliq.,--Study of
`°" the Initial Phase of the Ta-r-antula
R.ecreafir�rjjj_ zfflroL
Attached for the City Council 's information is an interim report on the
Feasibility Study of the Tarantula Recreational Railroad. This study is
being administered by the City and funded with a federal grant received
for the City by the Fort Worth Transportation Authority. The interim report
is an Executive Summary of Task 2 (in the seven task study). As such,
it is an interim report and should not be viewed as a final report.
The interim report of Task 2 assesses the physical , environmental and
financial feasibility of what is defined as Phase 1 of the Tarantula Project.
Phase 1 would operate steam trains from Tarantula's Eighth Avenue yard
to the Stockyards along track already owned b'y Tarantula. It assumes the
Stockyards station would be developed by the - Hickman-Hill project. The
preliminary conclusion of this report is that the Phase 1 project is feasible
in every respect. In fact, there appears to be enough operating revenue
to finance estimates of capital improvements for Phase I without any public
participation.
The overall Tarantula Feasibility Study has been designed to utilize the
results of this task to determine how or if to proceed with the remainder
of the study. Staff is currently reviewing and verifying the 'estimates
in the Task 2 report to decide what direction to give the consultant
regarding future tasks. In order to ensure objectivity, Tarantula has
been given the opportunity to submit written comments on this report. Their
comments will be included in the final document but will in no way modify
the conclusions or recommendations of the consultant.
Further inf rmation will be provided upon request.
David Ivory
City Manager
-ISSUED BY THE CITY MANAGER FORT WORTH, TEXAS
DE. PRELIMINARY CONCLUSIONS
The Tarantula proposal to operate an excursion railroad between the
Stockyards and the Eighth Avenue Yard has been thoroughly reviewed. The
findings of this review are presented below.
IEK.A Physical Condition
The existing Tarantula track, switches, yards, structures, grade crossings
and other facilities have been inspected and generally found to be in good
condition and capable of safe passenger operation. Much of the maintenance
of the existing facility (including the diesel locomotive) is carried out through
contractors, and many improvements have already been made to the facility
since the Tarantula took ownership. ,
Consideration should be given to improving the drainage conditions from south
of Park Place to north of Rosedale Street.
IX.B Capacity
Assuming that a passing siding is constructed in the vicinity of Seventh
Street, the railroad has the capacity to easily accommodate significantly more
freight traffic as well as the proposed passenger operations.
I
IX.0 Market Analysis
The survey conducted as part of this project supports the feasibility of
providing service between the stockyards and the Eighth Avenue Yard. It
will be an attractive trip to Stockyard visitors. A ridership estimate of
195,000 annual round trip riders is expected to be achieved by the third year
of operation. Dinner trains are expected to accommodate an additional 54,000
riders per year.
There is sufficient capacity in the train operation for this level of use. While
the plans for the Stockyard Station are still to be completely defined, there
appears to be adequate space at the stations.
IX.D Financial Feasibility
The estimates of costs and revenues suggest that the project will be
profitable within five years, providing that the capital expenditure remains
under $4.4 million, within 10 years if under $8.1 million. Estimates of the
capital required to initiate the project are approximately $5 million, and
alternative financial scenarios suggest that the operation has a high
probability of being profitable. Tarantula has demonstrated an ability to
make physical improvements at extremely low costs.
DC.E Legal and Institutional Considerations
00* Phase I of the Tarantula project basically conforms to City plans. There are
no known legal obstacles to keep Phase I from operating. The railroad is
already subject to federal, state and local regulations regarding noise, safety
and air pollution. No opposition is expected based on the historic
preservation aspects of the Stockyard plans.
IX.F Preliminary Impact Assessment
A steam locomotive operation will make less noise than a comparable diesel
operation. In the Eighth Avenue Yard area, the noise from train operations
will be almost imperceptible due to the existing local traffic noise. While the
whistle and bell will be audible, state statutes place control of train whistle
and bell noise under city control. Traffic impacts will be minimal due to the
fact that the ridership will largely be off-peak and on weekends. Gates
should be added to the grade crossings at:
0 White Settlement Road
0 Henderson Road
0 Northside Drive
Cantilever flashing lights should replace post-mounted flashing lights at:
0 Commerce Street
0 Park Place Avenue
The stockyards area is currently within a 100-year flood plain. If a new
bridge is added over Marine Creek, care is needed to assess the drainage
impacts of the bridge.
IEK.G Contingency Considerations
The Tarantula Corporation freight operation is profitable and expected to
remain so. Thus, the survival of the company is not dependent upon the
passenger operation. This adds to the organization's ability to deal with
contingencies.
The Stockyard Station as now planned is not on Tarantula-owned property.
In the event that this station cannot be built as planned, the Tarantula
Corporation could still build a Stockyard Station on its property on the
eastern boundary of the stockyards. This would make use of an existing
railroad bridge in good condition. While a station on the far east side of the
stockyards would not be as desirable as the planned location, it would still be
within walking distance of Stockyard visitors and would not be expected to
negatively impact the ridership in the near term or the feasibility of Phase I.
IX.H Summary
00011 Phase I of the Tarantula project is feasible in every respect.
Deshazo, Starek & Tang, Inc.
Engineers - Planners