3 For two decades the Region has identified these projects M OVING - PowerPoint PPT Presentation

H AMPTON R OADS T RANSPORTATION A CCOUNTABILITY C OMMISSION Economic Vitality and Quality of Life Unlocking Hampton Roads HRTAC Overview Kevin B. Page Executive Director 12/20/2017

C ONGESTION /F UTURE C ONNECTIVITY 2040 Population 2040 Employment The Stage is set for Regional Transportation Solution Consensus Building 2

Unlocking Hampton Roads 3 For two decades the Region has identified these projects •

M OVING THE R EGION F ORWARD HRTAC/HRTFOverview • Hampton Roads Transportation Fund created 2013 Acts of Assembly HB2313 • HRTAC created 2014 Acts of Assembly HB1253 – Hired Executive Director August 2015 Unlocking Hampton Roads • Empowered to procure, finance, build and operate highway, bridge and tunnel projects in Hampton Roads • Authorized to use HRTF monies and tolls for construction projects on new or existing highways, bridges and tunnels and to issue bonds using revenues to support bond debt • Regional Collaboration ‐ Works closely with the Hampton Roads Transportation Planning Organization (HRTPO) who 4 determines Project Prioritization for the region

HRTAC Membership 19 Voting members 10 Cities 4 Counties Chesapeake Isle of Wight Franklin James City Hampton Southampton Newport News York Norfolk Poquoson 5 VA General Assembly Members Portsmouth Two Members of the Senate Unlocking Hampton Roads Suffolk Three Members of the House of Virginia Beach Delegates Williamsburg 4 Non ‐ Voting Ex ‐ officio members Commonwealth Transportation Board Member Virginia Department of Transportation Virginia Department of Rail and Public Transportation Virginia Port Authority June 15, 2017 ‐ Michael Hipple elected Chair and Linda Johnson elected Vice ‐ Chair • HRTAC is a political subdivision of the Commonwealth • 5 Primarily funded with HB 2313 revenue (Hampton Roads Transportation Fund) • approved by the 2013 General Assembly

H AMPTON ROADS TRANSPORTATION FUND Additional Sales Tax ‐ Additional 0.7% • $131.47M Revenue FY17 – ($129.97M • FY2015) Additional Fuels Tax Unlocking Hampton Roads ‐ Regional tax on motor fuels • ‐ Additional 2.1% ‐ $25.03M Revenue FY17 – • ($40.94M FY2015) Fuel tax not floored in 2013 – Loss of • around $20M per year  No Floor on Gas Tax for HRTAC or NVTC/PRTC 6  State Code requires HRTF funds to be spent Hampton Roads highway construction projects

Legislation: Congestion Relief HRTAC (HB 1253, 2014) • “…shall give priority to those projects that are expected to provide the greatest impact on reducing congestion for the greatest number of citizens residing within Unlocking Hampton Roads Planning District 23…” Statewide Prioritization Process (HB 2, 2014) • “…Hampton Roads highway construction districts…shall ensure that congestion mitigation …is weighted highest among the factors in the prioritization process …” 7 • 45% weighted factor in Hampton Roads

General Assembly – 2016 HRTAC Omnibus Bill HB1111 Fine Tuning HRTAC • Allows investment and provides liability protections • Allows counties to designate a representative Unlocking Hampton Roads • Allows all localities to have representation at the meetings if Chief Elected Officer or County Designee is unable to attend. Notice must be given 48 hours before meeting if regular member is unable to attend • Administrative and operating expenses shall be paid by HRTAC Revenues 8

General Assembly Actions – 2016 Tolling • Language within the State budget establishes new toll policy restricting CTB, VDOT, HRTAC, and NVTA from tolling existing un ‐ tolled lanes without General Assembly approval except on: HOV/HOT Lanes • New Lane capacity Unlocking Hampton Roads • New bridges • Short segments of highways between existing toll • facilities • Legislation was adopted allowing better collection of unpaid toll bills from other states • HRTAC now has state guidance on tolling 9

Defining the Roles of the HRTPO and HRTAC Unlocking Hampton Roads 10

E VOLUTION OF HRTACProjects Plan Program Finance & Deliver • HRTAC (Six ‐ Year and Long • HRTAC (Regional Tax • HRTPO (Long ‐ Range Range Plans of Finance) Funding/Bonding, Toll Transportation Plan with Revenues/Bonding, and Smart • CTB (Six ‐ Year Improvement HRTAC Input) Scale Grants – Contracts with Program) • Prioritizes Projects Based on VDOT or Others to Deliver • HRTPO (Adds HRTAC Projects Project Readiness with HRTAC Projects) to Transportation Input • VDOT – Smart Scale Funding Improvement Program) (Constructs Projects Contracted by HRTAC) • HRTPO Long Range Transportation Plan identifies priority projects in the constrained plan or vision plan as under study/development/construction Unlocking Hampton Roads • HRTAC develops a six ‐ year and long range plans of finance to guide in project funding for development and construction – HRTAC feeds LRTP funding plans • HRTAC allocates funds to specific projects, asks that the HRTPO add them to the TIP • The CTB selects the Local Preferred Alternative, maintains Statewide Transportation Improvement Program, allocates state funding to projects in Six Year Improvement Program – awards Smart Scale funding 11 • VDOT assists in project readiness and construction through HRTAC/VDOT MOA and HRTAC project construction agreements

2040 LRTP: Regional Priority Projects ‘Sequencing Based on Project Readiness’ •I ‐ 64 Peninsula Widening I •I ‐ 64/I ‐ 264 Interchange II •I ‐ 64 Southside Widening/High ‐ Rise Bridge ‐ Phase 1 III •Hampton Roads Crossing: Alternative A ‐ HRBT IV •I ‐ 64 Southside Widening/High ‐ Rise Bridge ‐ Phase 2 •I ‐ 64/Fort Eustis Blvd Interchange V •US Route 460/58/13 Connector •Bowers Hill Interchange  A major step forward in Regional Consensus Building ‐ February 18, 2016 12

13 Unlocking Hampton Roads

Adopted HRTAC FY2018‐FY2023 –Six Year and 2040 Operating and Capital Plans of Finance for the Region’s High Priority Projects (With Toll Revenues to HRTAC) • On September 21, 2017, HRTAC Adopted the HRTAC FY2018 ‐ FY2023 Funding Plan and the HRTAC 2040 Long Range Plan of Finance • Assumptions: Unlocking Hampton Roads • HRBT advances on schedule – enters SYIP 2019 completion 2024 • First bond activity FY2019 – all net toll revenues to HRTAC • Smart Scale funding for HRTAC funded projects continues • Minor adjustments were made to bring the proposed plan to reflect u pdated project estimates and obligations of both HRTAC and VDOT June 2017 reduction in HRBT contingency by $200M • June 2017 Smart Scale awards to two HRTAC projects • Reduction in total project costs • Return of the funding obligation by VDOT due to the use of federal funding to support total • project costs. 14

Project Costs and Expenses &Funding Sources (With Toll Revenues to HRTAC) 15

HRTAC Projected Cash Flow FY 2018 to FY 2023 (With Toll Revenues to HRTAC) Unlocking Hampton Roads 16 Maintain General Reserve Balance at Minimum 10% of HRTF Revenue in Current Fiscal Year

ADOPTED HRTAC 2040 LONG RANGE PLAN OF FINANCE UPDATE (with toll revenues to HRTAC) 17

Regional Projects: 2040 Long Range Plan $8.5B YEAR PROJECT YOE COST ($M) 2018 ‐ 2022 I ‐ 64 Peninsula – Segments 1, 2, and 3 $645 2019 ‐ 2021 I ‐ 64/I ‐ 264 Interchange – Phases I & II $347 2020 I ‐ 64 Southside/High ‐ Rise Bridge – Phase I $600 Unlocking Hampton Roads 2020 Project Development $37 2024 HRBT $3,799 2037 I ‐ 64 Southside/High ‐ Rise Bridge – Phase II $1,729 2037 Bowers Hill Interchange $659 2038 US 460/58/13 Connector $396 2038 I ‐ 64/Fort Eustis Blvd Interchange $320 18 I ‐ 564/I ‐ 664 Connectors (Patriots) Vision Plan I ‐ 664/MMMBT VA 164/164 Connector

Smart Scale (HB2) Funding • Smart Scale (Formerly known as HB2) funding is a competitive prioritization process administered by the Commonwealth to advise the Commonwealth Transportation Board in its funding decisions. • $144,927,753 awarded in June 2016 to the I ‐ 64 Unlocking Hampton Roads Peninsula Widening Project • $150,000,000 awarded on June 20, 2017 • $100,000,000 to the I ‐ 64 Southside Widening/High Rise Bridge Project • $50,000,000 to the I ‐ 64/I ‐ 264 Interchange Phase II Project 19

Hampton Roads Crossing Study A study that led Unlocking Hampton Roads to Unanimous Regional Decisions on October 20, 2016 20

HRBT ‐ Moving Forward • March 16, 2017, HRTAC allocated $25M toward refinement of HRCS Preferred Alternative • HRCS SEIS is complete  June 12, 2017, FHWA issued Record of Decision (ROD) Unlocking Hampton Roads • Project’s planning ‐ level cost estimate $3.3B in 2016 dollars (SEIS) ‐ $3.8B YOE  Includes Construction, CEI, Large Contingency • HRTAC, funding agent, is developing strategies to fund construction • VDOT, delivery agent, is evaluating delivery options and initiating preliminary engineering 21