CT Rail - Property Management Unit Review and Optimization
New Haven, CT
Goman+York was engaged to identify strengths and weaknesses within the Connecticut Department of Transportation’s Public Transit Department, Rail Division, Rail Property Management & Utilities Unit (PMUU). Existing functions and processes were to be examined to recommend best practices to increase efficiency within the unit.
Goman+York was further tasked with identifying sources to monetize the rail line and station assets through ancillary income and revenue generation strategies.
The portfolio of real assets which were analyzed consists of:
- Linear Track Length: 257.3 miles
- Staff: 5 in unit,
- Existing Legal Agreements: 3,000+
Goman+York examined workflow processes and technology systems utilized by the PMUU to determine how current systems are used and to identify improvements that can be instituted./p>
Short-term and long-term alternatives were developed to streamline, organize, update, and track the current license agreements and rights of entry contracts.
The current CTrail system and other rail systems were analyzed to develop a strategy to regulate and increase current revenue streams and to identify missed and potential income generation opportunities.
Representatives from Goman+York attended the International Council of Shopping Center’s (ICSC) 2019 RECON conference in Las Vegas presenting CTrail to market advertising and specialty leasing opportunities. This provided exposure to over 40,000 conference attendees and led to partnership opportunities for retail vendors and software service providers to contract with the CT DOT - Rail division.