Heartland Coast-to-Coast Corridor Study ___________________ Presented Sept. 11, 2007 Sanibel Harbour Resort Spa Heartland Coast-to-Coast Corridor Study ___________________ Presented Sept. 11, 2007 Sanibel Harbour Resort Spa
Heartland Coast-to-Coast Study Corridor 130-mile Corridor 130-mile Corridor 150-mile Corridor 150-mile Corridor
Typical Roadway Section (not to scale)
Floridas Future Corridors Action Plan
Corridor Study Summary Conceptual corridor & typical section Project cost estimate Travel demand forecast (traffic volumes) Gross revenue / net revenue estimate Calculation of bonding capacity Determination of toll funding contribution Conceptual corridor & typical section Project cost estimate Travel demand forecast (traffic volumes) Gross revenue / net revenue estimate Calculation of bonding capacity Determination of toll funding contribution
Project Cost Estimate (2007 Present Day Dollars) I-75 to Floridas Turnpike (130 miles) Construction$3,765,000,000 Engineering 565,000,000 Right of Way 260,000,000 TOTAL$4,590,000,000 I-75 to Floridas Turnpike (130 miles) Construction$3,765,000,000 Engineering 565,000,000 Right of Way 260,000,000 TOTAL$4,590,000,000 I-75 to I-95 (150 miles) Construction$4,345,000,000 Engineering 652,000,000 Right of Way 303,000,000 TOTAL$5,300,000,000 I-75 to I-95 (150 miles) Construction$4,345,000,000 Engineering 652,000,000 Right of Way 303,000,000 TOTAL$5,300,000,000
Travel Demand Forecasts Used Turnpike State Model Open-to-traffic year = 2015 Modeled years 2015 and 2035 Toll rates = $0.10/mile and $0.12/mile Toll increase 25% every 10 years State road improvements per Work Program through 2015 Local road improvements Used Turnpike State Model Open-to-traffic year = 2015 Modeled years 2015 and 2035 Toll rates = $0.10/mile and $0.12/mile Toll increase 25% every 10 years State road improvements per Work Program through 2015 Local road improvements
Year 2035 Traffic (AADT) 4,300 4,900 7,200 4,600 2,300 5,500 To Tpk.
Year 2035 Traffic (AADT) 25,400 18,700 17,600 16,900 10,200 6,100 8,700 4,300 4,900 7,200 4,600 2,300 5,500 To Tpk. To I-95 4,600 2,300
Revenue Forecasts Estimates for $0.10/mile and $0.12/mile Toll increase 25% every 10 years Gross revenue stream year 2015 – 2044 Subtract O&M costs to get net revenues Calculate bonding capacity Compare bonding capacity vs. costs Estimates for $0.10/mile and $0.12/mile Toll increase 25% every 10 years Gross revenue stream year 2015 – 2044 Subtract O&M costs to get net revenues Calculate bonding capacity Compare bonding capacity vs. costs
Toll Revenue Estimates East Terminus at Turnpike Gross Net Year 2015 $2.1 M N/A Year 2044$40.9 M$2.7 M East Terminus at Turnpike Gross Net Year 2015 $2.1 M N/A Year 2044$40.9 M$2.7 M Bonding Capacity = N/A
Toll Revenue Estimates East Terminus at Interstate 95 Gross Net Year 2015 $8.0 M N/A Year 2044 $135.8 M$87.0 M East Terminus at Interstate 95 Gross Net Year 2015 $8.0 M N/A Year 2044 $135.8 M$87.0 M Bonding Capacity = $434 M
Toll Funding Contribution (assumes 2012 construction start) East Terminus at Turnpike Bonding CapacityN/A Project Costs (escalated) $ 5,720 M SHORTFALL $ 5,720 M East Terminus at Turnpike Bonding CapacityN/A Project Costs (escalated) $ 5,720 M SHORTFALL $ 5,720 M East Terminus at Interstate 95 Bonding Capacity $ 434 M Project Costs (escalated) 6,603 M SHORTFALL $ 6,169 M East Terminus at Interstate 95 Bonding Capacity $ 434 M Project Costs (escalated) 6,603 M SHORTFALL $ 6,169 M
-10% -22% -24% -9% NC -1% SR 60 Traffic Impacts (projected Year 2035) 21,700 / 16,600
SR 70 Traffic Impacts (projected Year 2035) -13% -10% -46% -17% -16% -17% -8% 13,000 / 10,800
What Next? Organization of stakeholders Regional growth vision Environmental stewardship plan Protection of corridors Organization of stakeholders Regional growth vision Environmental stewardship plan Protection of corridors
Heartland Coast-to-Coast Corridor Study ___________________ Presented Sept. 11, 2007 Sanibel Harbour Resort Spa Heartland Coast-to-Coast Corridor Study ___________________ Presented Sept. 11, 2007 Sanibel Harbour Resort Spa