July 14, 2011
The Tollway Today ◦ Status of Congestion-Relief Program ◦ Financial health and budget ◦ Economic pressures and challenges The Tollway Tomorrow ◦ Taking care of our existing system ◦ Potential future projects The Path Forward 2
Congestion-Relief Program 2004-2016 85% Complete at end of 2010 $5B Invested on time, under budget No State or Federal Funds 3
2011 $192 million for 2011 CRP projects Jane Addams Memorial Tollway (I-90) Genoa Rd. to U.S. Route 20 Roadway Rehabilitation, Resurfacing & Bridge Repairs Jane Addams Memorial Tollway (I-90) Barrington Rd. to Elgin Toll Plaza Roadway Rehabilitation, Resurfacing & Bridge Repairs Tri-State Tollway (I-94/I-294/I-80) IL-394 to 159 th St., I-55 & Everett Rd. Bridge Rehabilitation I-90/I-294 Tri-Level Bridge Rehabilitation Tri-State Tollway (I-94/I-294/I-80) Balmoral Ave. Ramp Construction Systemwide Improvements Landscaping, pavement repairs, etc. 4
Our budget must be balanced Required financial formula protects bond ratings and reinvests in system 1st operating budget Reinvest $174M Debt Service cuts in agency’s history (4%) $251M Maintenance & Operations Continual drive for efficiency $255M Projected 2011 Budget $680M 5
Budget must be balanced We must budget for: Operating costs Debt service Required deposits to the Renewal and Replacement account Maintain a 2X coverage ratio on debt service to protect ratings 6
Forecast vs. actual Economic impact Outside influences 7
Management audit underway Collected $5 million from Indiana toll violators Exploring new non-toll revenues Cost saving measures 8
($ millions) ($ millions) ($ millions) ($ millions) $1,800 $1,600 $1,400 Total Revenue $1,200 (with Commercial Toll Increase) $1,000 $800 $600 $400 $200 $- 2015 2020 2025 2030 2034 9
($ millions) ($ millions) $1,800 $1,600 $1,400 Total Revenue $1,200 (with Commercial Toll Increase) $1,000 $800 $600 $400 Operating Expenses (3 percent growth rate) $200 $- 2015 2020 2025 2030 2034 10
($ millions) ($ millions) $1,800 5 percent growth rate $1,600 $1,400 Total Revenue $1,200 (with Commercial Toll Increase) $1,000 $800 $600 $400 Operating Expenses (3 percent growth rate) $200 $- 2015 2020 2025 2030 2034 11
($ millions) ($ millions) $1,800 5 percent growth rate $1,600 $1,400 $1,200 Total Revenue $1,000 (with Commercial Toll Increase) $800 Net Debt Service $600 $400 $200 Operating Expenses (3 percent growth rate) $- 2015 2020 2025 2030 2034 12
Chicago area has nation’s worst road congestion Congestion costs the Chicago area between $4 billion and $7 billion annually CMAP projects 2.5 million more people in Northeast Illinois by 2040 Tollway must define a 10-year plan by end of 2011 Tollway Board of Directors has identified priority projects 13
Total: $6.1 Billion Through 2026 RECONSTRUCT & WIDEN Jane Addams Memorial Tollway (I-90) – $1.9 B (no transit) RECONSTRUCT Tri-State Tollway (I-94/I-294) – $1.2 B PRESERVE Reagan Memorial Tollway (I-88) – $610 M PRESERVE Veterans Memorial Tollway (I-355) – $400 M REPAIR Roads, Bridges & Maintenance Facilities – $1.39 B Other Capital Projects - Maintenance Site Location $600 M 14
RECONSTRUCT & TAKE CARE OF EXISTING WIDEN SYSTEM NEEDS Jane Addams Memorial Tollway (I-90) – $1.9 B (no transit) JANE ADDAMS MEMORIAL TOLLWAY RECONSTRUCT (I-90) Tri-State Tollway (I-94/I-294) – $1.2 B ELGIN O’HARE PRESERVE WEST BYPASS Reagan Memorial Tollway (I-88) – $610 M I-294/I-57 INTERCHANGE PRESERVE Veterans Memorial Tollway (I-355) – $400 M REPAIR IL ROUTE 53 NORTH Roads, Bridges & EXTENSION Maintenance Facilities – $1.39 B Other Capital Projects - ILLIANA $600 M 15
$1.9-$4.5 Billion Create a state-of-the-art roadway Managed lanes = customer choice Save 30 minutes Elgin to Rosemont Planning for transit options, possibly express bus service now and rail later Save $400 million if moved up to 2012 16
$2.2-$3.6 Billion Better links between O'Hare and surrounding communities and businesses Save 18 minutes on 10-mile trip from Hanover Park to Bensenville Creates opportunity for 65,000 total jobs by 2040 17
$240-$570 Million New Interchange to link I-57 and I-294 Increases economic development opportunities throughout the Chicago Southland Dramatically improve access to local communities Direct freight access to south suburbs 18
$100 Million Illinois Route 53 Extension Illiana New Advisory Committee to Improve mobility for people develop environmentally and goods in Will County sound roadway concept Stimulate economic growth New, multi-modal design and enhanced freight mobility approach Environmental impact studies 75% favored extension in expected to take 5-6 years 2009 county-wide Continue to support IDOT as referendum lead agency Planning could begin in 2012 19
Job #1 - Take care of existing $6.1 Billion system through 2026 Projected revenue $5.1 Billion Projected funding gap $1 Billion Estimated range for potential $2.5 -$6.9 Billion new projects 20
New Roads ◦ Fully rebuilt, state-of-the-art system ◦ Includes three CMAP GO TO 2040 Plan projects New Jobs ◦ Start driving the economy ◦ Regional economic development growth New Choices ◦ New access, interchanges and managed lanes 21
Smart investments now can ◦ Create more than 122,000 direct jobs $1 billion of annual construction ◦ Creates more than 13,000 construction-related jobs annually ◦ Sustains those jobs for more than 14 years 22
Consider your input Find a balance between available revenue and potential projects Continue to use Tollway’s project evaluation criteria: Financial sustainability Community support Maximizing existing assets Promoting economic growth Fostering environmental responsibility Consistency with regional transportation plans 23
Capital Planning Forums o July 7 at 10 a.m. at Giovanni’s Restaurant , Rockford o July 13 at 4 p.m. at the Tinley Park Village Hall o July 14 at 3 p.m. at the Kane County Government Center, Geneva o July 15 at 9 a.m. at the Lake County Permit Facility, Libertyville o July 18 at 10 a.m. at the DuPage County Government Center, Wheaton Community Outreach ◦ Comments from communities and customers can be submitted online at www.illinoistollway.com Tollway Board Review ◦ Written comments from Capital Planning Forum participants and customers will be shared with Tollway Directors 24
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Revenue Capital Expenditures Illinois Tollway operates as a system of 15% 30% 35% roadways 16% 47% Illinois Tollway 16% 6% 22% 14% System serves Northern Illinois Tri-State Tollway (I-94/I-294/I-80) Revenue leveraged to benefit the Jane Addams Memorial Tollway (I-90) system Reagan Memorial Tollway (I-88) Veterans Memorial Tollway (I-3550 Other Systemwide Expansion supported by system
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Construction cost savings Union contract negotiated savings Employees per lane mile 32
As of 12/31 Each Year 33
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