Heartland Coast-to-CoastCorridor Study

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Presented Sept. 11, 2007Sanibel Harbour Resort Spa

Heartland Coast-to-CoastCorridor Study

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Presented Sept. 11, 2007Sanibel Harbour Resort Spa

Heartland Coast-to-CoastStudy Corridor

Heartland Coast-to-CoastStudy Corridor

130-mileCorridor

130-mileCorridor

150-mileCorridor

150-mileCorridor

Typical Roadway SectionTypical Roadway Section

(not to scale)

(not to scale)

Florida’s Future CorridorsAction Plan

Florida’s Future CorridorsAction Plan

Corridor Study SummaryCorridor 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)

Project Cost Estimate(2007 Present Day Dollars)

I-75 to Florida’s Turnpike (130 miles)Construction $3,765,000,000Engineering 565,000,000Right of Way 260,000,000

TOTAL $4,590,000,000

I-75 to Florida’s Turnpike (130 miles)Construction $3,765,000,000Engineering 565,000,000Right of Way 260,000,000

TOTAL $4,590,000,000

I-75 to I-95 (150 miles)Construction $4,345,000,000Engineering 652,000,000Right of Way 303,000,000

TOTAL $5,300,000,000

I-75 to I-95 (150 miles)Construction $4,345,000,000Engineering 652,000,000Right of Way 303,000,000

TOTAL $5,300,000,000

Travel Demand ForecastsTravel 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)Year 2035 Traffic (AADT)

4,3004,3004,9004,9007,2007,2004,6004,6002,3002,3005,5005,500

To Tpk.To Tpk.

Year 2035 Traffic (AADT)Year 2035 Traffic (AADT)

25,40025,40018,70018,70017,60017,60016,90016,90010,20010,2006,1006,1008,7008,700

4,3004,3004,9004,9007,2007,2004,6004,6002,3002,3005,5005,500

To Tpk.To Tpk.

To I-95To I-95

4,6004,6002,3002,300

Revenue ForecastsRevenue 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 EstimatesToll 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/ABonding Capacity = N/A

Toll Revenue EstimatesToll 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 MBonding Capacity = $434 M

Toll Funding Contribution(assumes 2012 construction start)

Toll Funding Contribution(assumes 2012 construction start)

East Terminus at Turnpike

Bonding Capacity N/AProject Costs (escalated) $ 5,720 M

SHORTFALL $ 5,720 M

East Terminus at Turnpike

Bonding Capacity N/AProject 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%-10%-22%-22%-24%-24%-9%-9%NCNC-1%-1%

SR 60 Traffic Impacts(projected Year 2035)

SR 60 Traffic Impacts(projected Year 2035)

21,700 / 16,60021,700 / 16,600

SR 70 Traffic Impacts(projected Year 2035)

SR 70 Traffic Impacts(projected Year 2035)

-13%-13% -10%-10% -46%-46%-17%-17%-16%-16%-17%-17%-8%-8%

13,000 / 10,80013,000 / 10,800

What Next?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-CoastCorridor Study

___________________

Presented Sept. 11, 2007Sanibel Harbour Resort Spa

Heartland Coast-to-CoastCorridor Study

___________________

Presented Sept. 11, 2007Sanibel Harbour Resort Spa