State of the Agency Mike Snyder, P.E., Executive Director

State of the Agency System Overview Construction Update 5-Year Work Plan Trends and Forecast Summary

Facts: 105 mile system Over 300,000 Customers 91% E-PASS Customer Satisfaction Rating

Construction Program Facts Work Progressing at a Monthly Rate of Between $14 to $18 Million (down from $22 to $30 Million 1 year ago) Construction Contract Value of Over $530 Million (down from $770 Million 1 year ago), 80% Completed All Major Projects are On Budget and On, or Ahead, of Schedule Environmentally Responsible Manner Traffic Impacts Minimized, Communication with Customers Maximized

SR 408 Widening SR 414 John Land Apopka Expressway SR 528 BeachLine Main Express Lanes SR 429 Daniel Webster Western Beltway SR 417/Innovation Way Interchange SR 417/Moss Park Interchange SR 417/Boggy Creek Road /South Access Road Interchange Active Construction Project Locations SR 528 Narcoosee Road Interchange

5-Year Work Plan

Revenue Tracking Summary Chart 7/1 – 2/3

Revenue Chart 2009

Local Traffic Trends Monthly Growth Compared to Previous Year

System Revenue vs. Orlando Unemployment *change over previous year *Source

System Revenue vs. Orlando Gas Price *change over previous year *Source

SR 408 Revenue vs. Orlando Unemployment *Source

OIA Passengers *Source

SR 528 Airport Plaza Revenue vs. OIA Passengers *change over previous year * *Source

SR 417 Southern Connector Revenue vs. OIA Passengers *Source

Budget Revisions FY Operations, Maintenance and Administration (OM&A) budgets cut by more than 10%

Budget Cuts Delayed certain capital projects Reduced toll collection staff Postponed hiring of administrative staff Fewer maintenance cycles for roadways – i.e.: mowing, trash pick-up, etc. Preventative maintenance cycles for equipment Eliminated implementing budget for traffic management center

Commitment to Quality & Safety Road Rangers Florida Highway Patrol Renewal and Replacement Program

Summary Existing Construction Projects On Schedule and On Budget Traffic Universally Down on All Transportation Facilities Operation, Maintenance and Administration (OM&A) Budgets Cut By More Than 10% OOCEA Continues Its Commitment to Safety and Quality Transportation in Central Florida

Florida’s Toll Rates

May 1980 –SR 408 (increased $0.05 from $0.20 to $0.25) –SR 528 East Mainline (increased $0.15 from $0.35 to $0.50) January 1987 –SR 408 (increased $0.25 from $0.25 to $0.50) –SR 528 East Mainline (increased $0.25 from $0.50 to $0.75) –SR 528 Airport Mainline (increased $0.25 from $0.25 to $0.50) July 1990 –SR 408 all Mainline plazas (increased $0.25 from $0.50 to $0.75) –SR 417 Curry Ford and University Mainline (increased $0.25 from $0.50 to $0.75) –SR 528 East Mainline (increased $0.25 from $0.75 to $1.00) –SR 528 Airport Mainline (increased $0.25 from $0.50 to $0.75) Decreased Tolls July 1992 –SR 408 Hiawassee and Dean Mainline (decreased $0.25 from $0.75 to $0.50) –SR 417 Curry Ford and University Mainline (decreased $0.25 from $0.75 to $0.50) OOCEA Toll Increases

Florida Turnpike Enterprise Toll Increases April % July % July % March % (cash only) 2011/2012* Statutory CPI increase *State Law requires the Florida Turnpike to index tolls to the CPI or a similar index a minimum of every 5 years, which would indicate the index would be initiated no later than 2012.

–Chicago Skyway –Dallas North Tollway –Delaware Turnpike (I-95) –Dulles Greenway (VA) –E-470 (CO) –Garden State Parkway (NJ) –Indiana Toll Road –Massachusetts Turnpike, Boston Ext. –New Jersey Turnpike –New York State Thruway –Pennsylvania Turnpike –Pocahontas 895 (VA) –San Joaquin Hills Corridor (CA) –SR 241-Foothill/Eastern Toll Road (CA) –SR 91 (CA) –Toronto 407 Other Agencies Toll Rate Increases Since January 2008

–JFK Memorial Highway (MD) –Maine Turnpike –Massachusetts Turnpike –Ohio Turnpike Other Agencies Currently Planning Toll Rate Increases

CUTR* Findings: Value of Expressway System to the Central Florida Region Travel Time Savings Oviedo to Downtown 23.7 min. Ocoee to Downtown 10.8 min. Waterford Lakes to Orlando Int’l Airport 13.6 min. *Source: Center for Urban Transportation Research, 2006

Decision Drivers Credit rating Traffic and revenue projections Construction program (including shovel ready projects) Wekiva Parkway

CURRENT 2009 No Increase Revenue Impacts –Projections down 8% since adoption of fiscal year budget in June 08 Coverage Ratio –2010 Projection 1.23x –2013 Projection 1.36x –2018 Projection 1.61x

Base Forecast FY – Raise toll by $.25 at mainline and ramps Revenue Impacts –2010: 19% increase over current projections –2013:25% increase over current projections –2018: 30% increase over current projections Coverage Ratio –Minimal coverage ratios from –May raise credit concerns

Base Option – Raise toll by $.25 at mainline and ramps 2012 – Introduce index to CPI consistent with FL Turnpike (and every 5 years after) –Index all tolls to the higher of CPI or 3% – 15% minimum increase every five years –Toll for Electronic Customers will be actual increase –Toll for Cash Customers will be rounded in $.25 increments

Revenue Impacts –2010: 19% increase over current projections –2013:47% increase over current projections –2018: 71% increase over current projections Coverage Ratio –Coverage in the first 10 years will average 1.60x (assuming $4.9B of Capital Projects in first 12 years) Base Option 1

Base Option Raise toll by $.25 at mainline and ramps 2012 Raise toll by $.25 at mainline and ramps 2017 Introduce index to CPI (and every 5 years after) –Index all tolls to CPI – 12% increase (2.4% annual estimate over 5 years) –Toll for Electronic Customers will be actual increase –Toll for Cash Customers will be rounded in $.25 increments

Base Option 2 Revenue Impacts – % increase over current projections –201356% increase over current projections – % increase over current projections Coverage Ratio –Coverage in the first 10 years will average 1.60x (assuming $4.9B of Capital Projects in first 12 years)

Base Option 1 or Option 2 Impact to Capital Projects 4 Projects Accelerated for Construction SR 408 Widening 1. SR 417 Interchange 2. Goldenrod to Chickasaw SR Boy Scout Road to US SR 429 at SR 414 Interchange Phase II $648 Million = 18,029 Jobs* *Job multiplier source: Federal Highway Administration (FHWA)

Wekiva Parkway OOCEA Funded Project $1.8 B (2008 dollars) Open in its entirety (including NW spur to US 441) in FY 2019 Timeline (under Option 1 or 2) –From the time of approval by Federal Highway Administration, the conventional schedule of Design, Right of Way Acquisition, and Construction will take approximately 8 years to complete. Construction is the last 4 years of that timeline. –There may be opportunities to accelerate the schedule.

Economic Impact Capital Projects Total $3.54 Billion = *65,432 Jobs Base Option 1 or Option 2 –Priority List $648 Million = *18,029 Jobs –Accelerates 4 projects *job multiplier source: Federal Highway Administration (FHWA)

Accelerated Projects

Summary Credit ratings are a very real concern Willingness to take decisive board action is key to credibility with rating services Options 1 and 2 provide some economic opportunities to the community