Key West Transit Development Plan FY2025-2034

9.3 Ten-Year Summary

9.3 Ten-Year Summary The financial projections detailed in Appendix G show the anticipated costs and revenues for maintaining and expanding transportation the KWT system over the next decade. The operating costs include maintaining existing services and implementing several ambitious priorities under the “Key West - On the Move” initiative. These priorities range from expanding existing services like the Duval Loop and Lower Keys Shuttle to introducing new services such as the North and South Connectors. The capital costs are significant, with substantial investments planned for the development of the Key West Intermodal Center and new vehicles to support the services envisioned in the plan. Capital revenues are expected to be bolstered by new federal grants and new federal assistance programs. It’s important to recognize that budgets are inherently fluid. Throughout the years, new grant opportunities often arise, providing additional financial resources that can significantly impact the implementation of various projects. These new revenues help bridge funding gaps and support priorities that might otherwise seem unattainable. The implementation priorities demonstrate a commitment to achieving substantial progress. However, strategic local investments and the influx of new grant revenues are required for project realization. The TDP Annual Progress Reports will serve as a tool in the implementation process. By closely monitoring actual expenditures and comparing them to the projected budget, adjustments can be made to ensure that resources are allocated effectively. This approach allows for flexibility and responsiveness to ensure implementation of the priorities remain aligned with the available financial resources and initiatives of the City.

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Transit Development Plan FY 2025–2034