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HAMPTON ROADS TRANSPORTATIONACCOUNTABILITY COMMISSION
Economic Vitality and Quality of Life Unlocking Hampton Roads
HRTAC OverviewKevin B. Page
Executive Director9/27/2017
CONGESTION/FUTURE CONNECTIVITY2040 Population
2040 Employment
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The Stage is set for Regional Transportation Solution Consensus Building
• For two decades the Region has identified these projects
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MOVING THEREGIONFORWARDHRTAC/HRTFOverview
• Hampton Roads Transportation Fund created 2013 Acts of Assembly HB2313
• HRTAC created 2014 Acts of Assembly HB1253 – Hired Executive Director August 2015
• 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 determines Project Prioritization for the region
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19 Voting members
4 Non‐Voting Ex‐officio membersCommonwealth Transportation Board MemberVirginia Department of TransportationVirginia Department of Rail and Public TransportationVirginia Port Authority
• June 15, 2017 ‐Michael Hipple elected Chair and Linda Johnson elected Vice‐Chair• HRTAC is a political subdivision of the Commonwealth• Primarily funded with HB 2313 revenue (Hampton Roads Transportation Fund)
approved by the 2013 General Assembly
10 Cities 4 CountiesChesapeake Isle of WightFranklin James CityHampton SouthamptonNewport News YorkNorfolkPoquoson 5 VA General Assembly MembersPortsmouth Two Members of the SenateSuffolk Three Members of the House of
DelegatesVirginia BeachWilliamsburg
HRTACMembership
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HAMPTON ROADS TRANSPORTATION FUNDAdditional Sales Tax
• ‐ Additional 0.7%• $131.47M Revenue FY17 – ($129.97M
FY2015)Additional Fuels Tax
• ‐ 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 yearNo Floor on Gas Tax for HRTAC or NVTC/PRTCState Code requires HRTF funds to be spent Hampton Roads highway construction projects
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Legislation:CongestionReliefHRTAC (HB 1253, 2014)• “…shall give priority to those projects that are expected to provide the greatest impact on reducing congestionfor the greatest number of citizens residing within 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…”• 45% weighted factor in Hampton Roads 7
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• Allows investment and provides liability protections• Allows counties to designate a representative• 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
GeneralAssembly– 2016HRTACOmnibusBillHB1111
FineTuningHRTAC
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GeneralAssemblyActions– 2016Tolling
• 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• 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
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DefiningtheRolesoftheHRTPOandHRTAC
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EVOLUTION OFHRTACProjects
• HRTPO Long Range Transportation Plan identifies priority projects in the constrained plan or vision plan as under study/development/construction
• 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
• VDOT assists in project readiness and construction through HRTAC/VDOT MOA and HRTAC project construction agreements
Plan
•HRTPO (Long‐Range Transportation Plan with HRTAC Input)•Prioritizes Projects Based on Project Readiness with HRTAC Input
Program•HRTAC (Six‐Year and Long Range Plans of Finance)•CTB (Six‐Year Improvement Program)•HRTPO (Adds HRTAC Projects to Transportation Improvement Program)
Finance & Deliver•HRTAC (Regional Tax Funding/Bonding, Toll Revenues/Bonding, and Smart Scale Grants – Contracts with VDOT or Others to Deliver Projects)•VDOT – Smart Scale Funding (Constructs Projects Contracted by HRTAC)
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AdoptedHRTACFY2018‐FY2023–SixYearand2040OperatingandCapitalPlansofFinancefortheRegion’sHighPriorityProjects(WithTollRevenuestoHRTAC)
• On September 21, 2017, HRTAC Adopted the HRTAC FY2018‐FY2023 Funding Plan and the HRTAC 2040 Long Range Plan of Finance
• Assumptions:• 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 updated
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. 13
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ProjectCostsandExpenses&FundingSources(WithTollRevenuestoHRTAC)
HRTAC Six-Year Plan FY 2018 to FY 2023
Prior Years
FY 2018
FY 2019
FY 2020
FY 2021
FY 2022
FY 2023 Total PayGo
Debt Proceeds1
Operating/HRTF Fees $7 $2 $2 $2 $2 $3 $3 $22 $22I-64 Peninsula Widening $247 $96 $62 $51 $147 $43 $645 $400 $245I-64/I-264 Interchange Improvement $136 $77 $73 $44 $24 $8 $362 $290 $67 $2 $3I-64 Southside/High Rise Bridge $57 $44 $170 $170 $164 $0 $605 $500 $105Project Development $8 $29 $4 $1 $41 $41Mega-Project Delivery (HRBT) $164 $332 $473 $742 $795 $824 $3,330 $352 $2,978Total $455 $412 $643 $741 $1,079 $848 $826 $5,004 $1,605 $2,978 $417 $2 $3
Funding SourcesPrior Years
FY 2018
FY 2019
FY 2020
FY 2021
FY 2022
FY 2023 Total
VDOT Funds $186 $49 $46 $69 $60 $8 $417HRTPO Funds $2 $2Outside Contribution $3 $3HRTAC Share $265 $363 $597 $672 $1,020 $840 $826 $4,582Total $455 $412 $643 $741 $1,079 $848 $826 $5,004
Notes:1. Net of financing costs
HRTAC Project Costs and ExpensesHRTAC Share VDOT
FundsHRTPO Funds
OutsideContribution
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HRTACProjectedCashFlowFY2018toFY2023(WithTollRevenuestoHRTAC)
Maintain General Reserve Balance at Minimum 10% of HRTF Revenue in Current Fiscal Year
HRTAC Six-Year Plan FY 2018 to FY 2023
FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 TotalHRTF .7% local Sales Tax Funds $133 $136 $138 $141 $144 $147 $840HRTF 2.1% Fuel Tax Funds $27 $30 $33 $35 $37 $38 $200
Total HRTF Revenue $160 $165 $172 $177 $181 $185 $1,040
HRTAC Toll Revenues1 $0 $0 $0 $0 $0 $2 $2HRTF Interest Income2 $1 $2 $2 $2 $1 $1 $7HRTF Investment Income2 $2 $2 $2 $0 $0 $0 $5
HRTAC HRTF Revenue Debt Proceeds3 $164 $320 $438 $693 $710 $652 $2,978HRTAC Toll Revenue Debt Proceeds $0 $0 $0 $0 $0 $0 $0
Total Available HRTAC Funding $328 $489 $613 $871 $892 $840 $4,031
HRTAC Share - PayGo Funding $363 $585 $637 $970 $755 $730 $4,040HRTAC Share - Debt Service $12 $35 $50 $85 $96 $277
Total Annual Expenditure $363 $597 $672 $1,020 $840 $826 $4,317
Carryover Balance From Previous Year $371 $336 $228 $169 $20 $71Remaining HRTAC Funds Unobligated $336 $228 $169 $20 $71 $85
1. High Rise Bridge Phase I toll revenues starting FY 20232. Rounded income3. Net of financing costs
HRTAC Projected Cash Flow
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ADOPTEDHRTAC2040LONGRANGEPLANOFFINANCEUPDATE(withtollrevenuestoHRTAC)
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RegionalProjects:2040LongRangePlan$8.5BYEAR PROJECT YOE COST ($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
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
Vision PlanI‐564/I‐664 Connectors (Patriots)I‐664/MMMBTVA 164/164 Connector
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SmartScale(HB2)Funding
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• 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 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
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HamptonRoadsCrossingStudy
AstudythatledtoUnanimousRegionalDecisionsonOctober20,2016
HRBT‐MovingForward
• 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)
• 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 20
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HRBT‐ NextStepsActivity Date Expected
Detail Level Screening Report July 2017
Draft Request for Qualifications and DB/DBFOM Term Sheets September 2017
Transportation P3 Steering Committee – Initial Finding of Public Interest October 2017
Statements of Qualifications due November 2017
Announcement of Shortlisted Teams January 2018
Indicative Price Proposals Due April 2018
Briefing to Transportation P3 Steering Committee on Delivery Method April 2018
Announcement of Delivery Method April 2018
Draft Request for Proposals May 2018
Final Request for Proposals September 2018
Commercial Close Early 201921
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Source:RITISusingINRIXdata.
HOV to HOT
I‐64/I‐264 Interchange
I‐64 Southside/ High‐Rise Bridge
Alternative A
Remaining Segments of Alternative D
HOV to HOT –Segment 2
Programmed for Construction
HRCS SEIS Alternative A and Bowers Hill
Under Study
Remaining Segments of Alternative D
US 460/58/13 Connector
Bowers Hill
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The Road Ahead
NextSteps
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• HRTAC will continue work to develop solutions and continue construction of HRTAC’s $1.6B approved/funded projects
• For HRBT ‐ HRTAC/VDOT will develop MOU to outline roles, responsibilities and Stakeholder involvement to keep the Region informed
• HRTAC will work with HRTPO and impacted jurisdictions to study the remaining projects not selected in the SEIS Alternative A• Public discussion on how to fund the projects
• HRTAC will advance the FY2018‐FY2023 Funding Plan and 2040 Long Range Plan, calibrate funding options, seek public input, advance project readiness and continue preparations for bonding/financing of projects
www.hrtac.org
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9/27/2017
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