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Appendix: Options for Evaluating an Expanded TLC Program PROGRAM EVALUATION FRAMEWORK AND METRICS Any program for direct investment in transit - oriented development projects will need to demonstrate the effectiveness of the funding. The goals and objectives for an expanded TLC Program, outlined in this White Paper form a framework for the types of performance measures that will be important to capture in evaluating potential investments. This section outlines potential evaluation metrics for each of the program objectives (outlined in the White Paper and in Appendix A). These objectives form the framework for evaluating potential projects and investments. For each objective, this White Paper identifies potential metrics with respect to the evaluation process. These are not a final set proposed metrics, but an evaluation of potential metrics to ensure that the objectives can be measures. Final decisions about the evaluation metrics and the data required to be supplied and collected should be made as decisions are made on the program structure, since the use of certain metrics may be more appropriate for different potential program funding uses. KEY CONSIDERATIONS There are several overarching considerations important to understand the various approaches potential approaches to program evaluation. These considerations will help determine which metrics will be most applicable to an expanded TLC Program. > Thresholds vs. evaluative metrics. Some metrics will be thresholds that are either met or not (such as the Place Type density thresholds in the MTC Station Area Planning Manual), while others will require a comparison of the relative merits of one project against another. The tradeoffs between thresholds and evaluative metrics result in different levels of comparison among potential uses of funds. > Qualitative vs. quantitative metrics. Some metrics will involve evaluation of the qualities and characteristics of a project, while others will involve the evaluation of data and performance measures. The tradeoffs between qualitative and quantitative metrics result in different levels time and energy expended by MTC staff in reviewing proposed projects, and impact the attractiveness of the program to developers. > Simple vs. modeled metrics. Some quantitative metrics will require only simple and transparent calculations, while other will require more complex, and potentially proprietary evaluation models. The tradeoff between simple and modeled metrics results in different levels of transparency in the evaluation process and the relative ease of complying with the grant program. 32 FINANCING TRANSIT ()RI: N ED DESI:LOPMENT IN THE SAN FRANC SCO f3AYAREA