AGENDA COMMITTEE OF THE WHOLE COUNTY OF KANE

Transcription

1 AGENDA COMMITTEE OF THE WHOLE COUNTY OF KANE Tuesday, April 30, :00 p.m. County Board Room Bldg. A A. CALL TO ORDER B. ROLL CALL C. PLEDGE OF ALLEGIANCE & PRAYER D. APPROVAL OF MINUTES: March 26, 2013 E. PRESENTATIONS/DISCUSSION: Status Report on Longmeadow Parkway & Toll Bridge (KDOT) Tollway Coordination (Rocco Zucchero, Illinois Tollway) Financing Options, Overviews & Q&A (3 experts) F. ADJOURNMENT

2 Longmeadow Parkway Fox River Bridge Corridor Committee of the Whole April 30, 2013

3 Project Description Bridge over Fox River Corridor ~ 5.6 miles (Huntley Road to IL62)

4 $ $ Project Description $ County Line Randall Rd! 31 Algonquin Rd IL62 $!3 62 Huntley Rd Longmeadow Parkway! 31!3 25!3 72 Main Street $!3 68 IL72

5 Project Description PURPOSE* Reduce congestion Provide alternative & more direct routes Serve existing land uses Improve access to businesses, employment & commercial centers NEED* No new Fox River bridges in Upper Fox Valley since I-90 tollway extension in 1950 s Population west of Fox River has increased ten fold since 1980 s Only 3 regional bridges in the area IL72, IL62 & I-90 Carpentersville s Main Street bridge carries regional traffic through local neighborhoods with negative community impacts *From the Environmental Impact Statement (EIS)

6 Project Description History 1990 s Fox River Bridge Crossings Environmental Impact Study (EIS) 2002 Received FHWA Record of Decision approval 2002 Partial land acquisition initiated 2007 Toll Bridge Task Force formed 2009 Task Force recommends Toll Bridge 2009 FHWA review & approval of Toll Bridge approach 2010 County Board approves Toll Bridge approach Municipal support through cooperative planning, ROW acquisition & construction of corridor segments

7 Project Status Cost to Date: $19.8 Million (Studies, EIS, Phase I and ROW) Project engineering proceeding as Toll Bridge Finalizing Phase I Eng with Design Approval in 2013 Phase II Engineering starting in July 2013 Completing Plats & Legals for land acquisition Acquiring Right-of-Way (~60% of acreage complete) Drafting Intergovernmental Agreements Municipalities Possible Construction Lettings 2015/2016

8 Challenge Federal & State funds are extremely limited Funding Opportunity Why a Toll Bridge? Funding primarily through user fees Minimizes use of County funds Reduces risk & supports County s capital needs by creating new revenue source Provides mechanism for non-kane County Residents to pay for the corridor Enabling Legislation: County Toll Bridge

9 Why a Toll Bridge? 605 ILCS 5/ Illinois Highway Code County Toll Bridges: Authorizes, among other things, counties to construct, repair, maintain, and operate a bridge or bridges over and across any navigable or non-navigable stream within such county, including the approaches to any such bridge and all necessary elevated structures to eliminate intersection at grade with any streets, tunnels, public roads, thoroughfares, highways, railroads, or street railroads. Authorizes bonds for purpose of acquiring or constructing a County toll bridge within or on the boundaries of the County.

10 Why a Toll Bridge? From the National Surface Transportation Infrastructure Financing Commission: toll roads have once again become an important means for funding investment in new highway capacity growing consensus that transitioning to a funding approach based more directly on the use of the transportation system is the right foundation.

11 Why a Toll Bridge? 12 local government resolutions supporting County Toll Bridge: Village of Algonquin Village of Barrington Hills Village of Carpentersville Village of East Dundee Village of Gilberts Village of Hampshire Village of Huntley Village of Lake in the Hills Village of Sleepy Hollow Village of West Dundee McHenry County Kane County

12 Toll Bridge Task Force Objectives Statutory authority & requirements Preliminary Traffic Projections Financial feasibility study & bonding capabilities FHWA & Tollway coordination Bond issuance parameters Report of Findings

13 Feasibility Study Purpose: To determine the potential of toll financing. Objectives: Data Collection Corridor Growth Analysis Travel Demand Modeling Traffic & Revenue Analysis Collection System/Operations Analysis Capital and Operating Cost Estimates Preliminary Financing Plan

14 Feasibility Study Final Report recommends: Electronic & video tolling Huntley Road to IL 62 Maximum $1.50/car toll peak period & $1.00/car off-peak 2-lane road / 4-lane bridge (evaluating cost/benefit) G.O. Alternate Revenue Bond potential: $70-75M

15 Electronic Tolling Feasibility Study Plaza location between IL31 and Fox River Toll funded segment from existing Longmeadow Parkway to IL62

16 Feasibility Study All Electronic Toll Collection (ETC) Supplemented with video tolling I-Pass compatible

17 Feasibility Study Project located in an area highly concentrated with I-PASS users

18 Feasibility Study Passenger Car Toll of $1.50 for Peak and $1.00 for Off-Peak Full Corridor Build Scenario Partial Corridor Build Scenario Build Full Length (Huntley to IL62) Captures more regional traffic Nets higher toll revenue

19 Feasibility Study 18,000 $14,000 16,000 $12,000 14,000 12,000 Daily Toll Revenue $10,000 Daily Transactions 10,000 8,000 Daily Toll Transactions $8,000 $6,000 Daily Revenue 6,000 $4,000 4,000 2,000 $2,000 - $- $0.00 $0.50 $1.00 $1.50 $2.00 $2.50 $3.00 Passenger Car Toll (2013) $1.50 Rush Hour $1.00 Off Peak

20 Feasibility Study PAGE 81 of Study

21 Feasibility Study Cost Estimates are at a planning/preliminary level with 10% Contingency 2-lane road/4-lane bridge substructure (4-lane at locations due to cost/benefit) High End of Estimate Range is for 4-lane highway corridor Does not include annual escalation of 6% which did not occur

22 Feasibility Study Bond Issuance Parameters General Obligation Alternate Revenue Bonds Retired primarily by tolls Security from other revenue sources (impact fees / transportation sales tax) Bonds can pay for all engineering, property acquisition, construction of bridge and approaches, legal, financing, and interest

23 Feasibility Study Final Report recommends: Electronic & video tolling Huntley Road to IL 62 Maximum $1.50/car toll peak period & $1.00/car off-peak 2-lane road / 4-lane bridge (evaluating cost/benefit) G.O. Alternate Revenue Bond potential: $70-75M

24 County Board / Task Force Resolutions Commitment to Longmeadow Bridge Corridor Acceptance of the Report of Findings Proceed with Toll Bridge Investigate Alternate Revenue Bonds