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Reid Simons, director of government and public affairs for the N.C. Turnpike Authority, provides an update on the Garden Parkway and Monroe Connector at the Charlotte Chamber 2011 Transportation Summit.
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NC Toll Roads UpdateMonroe and Garden Parkway
Charlotte Transportation Summit April 8, 2011
Reid Simons, Director of Community Relations, NCDOT/NCTA
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Charlotte Area Network
Garden ParkwayMonroe Bypass
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Monroe Connector/Bypass
• Description: US 74 Bypass, provide substantial travel time savings, relieve congestion and allow for better connectivity to NC Ports
• Cost: $700 -$800 million– Project Finance Elements:
Appropriations bonds – State gap funds $24 m annually
Toll Revenue Bonds TBD
TIFIA Loan – Letter of Interest March 2011 TBD
GARVEE Bonds TBD
State TIP $77 m
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Monroe Milestones/ScheduleRecord of Decision August 2010
Selected Design-Build contractor (United Infrastructure Group, Boggs Paving, Anderson Columbia Co. and RK&K)
October 2010
Obtained Investment bond ratings and Sold Appropriation Bonds “AA” October 2010
Received 401 Permit – NC DENR Water Quality December 2010
Obtain 404 Permit – U.S. Army Corps of Engineers Spring 2011
Price, Sell Toll Revenue bonds and close financing Fall 2011
Award construction contract Fall 2011
Begin construction End of 2011
Open to Traffic 2015
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Monroe Toll Collection Configuration
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Monroe Estimated 2015 Toll Sensitivity Curve
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$55
$60
$65
$70
$75
$80
$85
$0.090 $0.100 $0.110 $0.120 $0.130 $0.140 $0.150 $0.160 $0.170 $0.180 $0.190ETC -$0.138VTC - $0.154 $0.169 $0.184 $0.200 $0.215 $0.231 $0.246 $0.262 $0.277
Per Mile Toll Rates(Class 1 Vehicle)
Tota
l Wee
kday
Rev
enue
(000
’s)
Optimum RateETC - $0.13VTC - $0.20
$0.292
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Electronic Toll Rate Comparison
TriangleExpressway
$0.153
Monroe Connector/
Bypass
$0.130
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Monroe Time and Cost Savings
Matthews
Monroe
Marshville
Via Monroe Pkwy 23.6 24 $2.58 26 $4.18
Route Distance Time Toll Time Toll20302015
Marshville to Matthews
Via US 74 24.2 41 49Savings via Monroe Cnctr/ Bypass
0.6 (17) $2.58 (23) $4.18
Via Monroe Pkwy 17.7 21 $1.67 23 $2.70
Route Distance Time Toll Time Toll20302015
Monroe to Matthews
Via US 74 15.1 29 35Savings via Monroe Cnctr/ Bypass
(2.6) (8) $1.67 (12) $2.70
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Traffic Signal 26 signals on US 74 between Marshville and I-485
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Garden Parkway
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Garden Parkway Project Area
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Garden Parkway
• Description: Increase access between Gaston County and Charlotte, travel time savings, better connectivity with Charlotte Douglass Airport and Intermodal Yard
• Cost: $800 -$900 million– Project Finance Elements:
Appropriations bonds – State gap funds $35 m annually
Toll Revenue Bonds TBD
TIFIA Loan – Letter of Interest March 2011 TBD
GARVEE Bonds TBD
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Garden Parkway Milestones/Schedule
Final Environmental Impact Statement Completed
Record of Decision 2nd Qtr 2011
Final Investment Grade Traffic and Revenue Study 2nd Qtr 2011
Financial Planning 2011
Advertise and Award construction contracts TBD
Begin construction Late TBD
Open to traffic 2015
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NC Toll Program
• Open Road Tolling – No toll booths• NC Quick Pass™ • Customers set up/maintain pre-
paid account• Readers scan NC Quick Pass and
other toll technology
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Don’t Have an NC Quick Pass?
• Highway cameras take picture of your license plate
• Bills are sent automatically through the mail to your license address
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NC Leading Interoperability Challenge
• NC’s technology is compatible with ALL East Coast toll systems
• Agreements and legislation being established with surrounding states
• NCTA is founder of Alliance for Toll Interoperability (ATI)
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Toll Interoperability
ATI’s HUB-Based ModelRFP for HUB operator in the street – selection mid-summer
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Questions?
