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Revenue pays for necessary investments in surface transportation facilities, including new construction and ongoing operations and maintenance costs. It is also used to finance larger-scale capital investment projects. IPD encourages the use of innovative revenue sources beyond those derived from the traditional taxes and fees that have supported Federal-Aid Highway Program. The major innovative revenue options include: Road Pricing Revenue and Non-Road Pricing Revenue.
Road Pricing refers to any imposition of a fee for the use of facility and can include:
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Non-Road Pricing Revenue sources include:
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183-A Turnpike - Austin, Texas
The 183-A Turnpike is an 11.6-mile controlled access north-south tolled highway east of the existing US 183 in metropolitan Austin. This regionally significant project connects to the Central Texas Turnpike System, previously funded in part with TIFIA credit assistance. 183-A was developed by the state's first Regional Mobility Authority - CTRMA - which was legislatively authorized in 2001 to form at the county level if a regional toll authority did not already exist to construct, operate, and maintain toll roads. CTRMA opened a northern 5-mile extension of the 183-A in April 2012, fully funded with the sale of toll revenue bonds.
95 Express – Miami, Florida
When fully constructed, the 95 Express will provide two express lanes in each direction and additional general purpose lane capacity for approximately 22 miles along I-95 from I-395 in Miami-Dade County to I-595 in Broward County, Florida. Phase 1 is complete, delivered as a design-build-finance project under a federal Urban Partnership Agreement. Phase 2 is a design-build project.
Alaskan Way Viaduct - Seattle, Washington
The Alaskan Way Viaduct is an elevated section of State Highway SR 99, one of two major North-South corridors in the City of Seattle. Its reconstruction comprises two sections of replacement, one with a new viaduct section and another with a bored tunnel, as well as repairs and enhancements to a third viaduct section. This major project's financial plan includes Federal, state, and local funding, including revenue from recent increases in Washington State's motor fuel tax as well as toll proceeds.
Anton Anderson Memorial Tunnel - Porter-Whittier, Alaska
The privately operated, 2.6-mile, dual mode Anton Anderson Memorial Tunnel (aka Whittier Tunnel) connects the cities of Porter and Whittier on Prince William Sound, 65 miles southeast of Anchorage, Alaska. The project was funded on a pay-as-you-go basis.
Central Texas Turnpike System
The Central Texas Turnpike System consists of three contiguous toll highways serving the Austin metropolitan region and the Austin-San Antonio corridor: SH 45 North, Loop 1, and SH 130 (Segments 1-4). State and local funding sources were combined with a Federal TIFIA loan to finance the project. SH 130 (Segments 1-4) was delivered via a design-build contract procured through Texas' first application of legislation permitting expanded private sector involvement.
Chicago Region Environmental and Transportation Efficiency Program (CREATE) - Chicago, Illinois
The CREATE project is an innovative collaboration between freight railroads, the State of Illinois DOT, the City of Chicago DOT, Metra, and Amtrak. CREATE is maximizing the use of four train transportation corridors, including three primarily handling freight traffic and one primarily handling passenger traffic. The project involves 70 improvements, including rail, auto, and pedestrian grade separations using new overpasses and underpasses, as well as viaduct improvements, grade crossing safety enhancements, and extensive upgrades of tracks, switches and signal systems.
Chicago Skyway - Chicago, Illinois
The Chicago Skyway is a 7.8-mile elevated toll road connecting I-94 (Dan Ryan Expressway) in Chicago to I-90 (Indiana Toll Road) at the Indiana border. It was leased to a consortium of Cintra and Macquarie in 2005 for an upfront payment of $1.83 billion, which the City used to pay down Skyway and city debt and establish reserve funds.
Crenshaw/LAX Transit Corridor Project - Los Angeles, California
The Crenshaw/LAX Transit Corridor Project is a new 8.5-mile light rail transit line extending from the existing Exposition Line south to LAX, including a minimum of six transit stations (with off-street parking), the procurement of a minimum of 20 light rail vehicles, and the construction of a full service maintenance facility. The project is supported by a TIFIA loan backed by local sales tax revenue, as well as other state funds, including those from general obligation bonds, and additional local sales tax revenue.
Dallas Area Rapid Transit Project Orange Line Extension (I-3) - Dallas, Texas
The DART Orange Line is a partially open, light rail transit line connecting downtown Dallas with the City of Irving and Dallas/Fort Worth (DFW) International Airport northwest of Dallas. The 14.5-mile, $1.3 billion project is being opened in three sections. The TIFIA loan for this project will advance construction on the third phase of its light rail Orange Line extension project.
Delaware U.S. Route 301 - Northern Delaware
U.S. Route 301 in Northern Delaware will be upgraded to a four-lane, limited access toll road on new location, replacing the existing two-lane route. The 12.5-mile toll road will extend from the Maryland/Delaware state line to SR-1 and will include a 4.5-mile Spur Road extending to SR-15/SR-896. The purpose of the project is to improve safety and relieve congestion problems in the corridor. Fatality rates on the existing roadway are significantly higher than statewide and national averages. Funding for the project will mostly come through the sale of bonds (GARVEEs and toll revenue bonds), achieving the state's goal of minimizing any use of funds from the State Transportation Trust Fund.
Downtown Tunnel / Midtown Tunnel / MLK Extension - Cities of Norfolk and Portsmouth, Virginia
The Downtown Tunnel / Midtown Tunnel / MLK Extension consists of five construction components involving three facilities in the Hampton Roads region of Virginia. The $2.1 billion project will be built on a design, build, finance, operate, and maintain (DBFOM) concession basis by Elizabeth River Crossings LLC (ERC) composed of Skanska Infrastructure Development and Macquarie Group. ERC will operate the concession for 58 years. Tolling of the existing Midtown and Downtown Tunnels to help finance the project will commence in January 2014.
Dulles Greenway - Loudoun County, Virginia
The Dulles Greenway is a 14-mile, limited-access, privately financed highway extending from the State-owned Dulles Toll Road - which carries traffic between Washington's Capital Beltway and Dulles Airport - to Leesburg. The two roads connect at a toll plaza. Drivers pay one toll, which the operators of the two facilities divide.
E-470 Tollway - Denver, Colorado
The E-470 is a 47-mile orbital toll road running along the eastern perimeter of the Denver metropolitan area. The tollway was financed entirely by private enterprise and the E-470 Public Highway Authority using an innovative mix of revenue sources including: tolls: vehicle registration fees, a highway expansion impact fee, and private sector contributions ranging from office space, to right-of-way, property assessments, and monetary donations.
Eagle Project - Denver Metro Area, Colorado
The East and Gold Line Enterprise (Eagle) Project is part of RTD's FasTracks, a voter-approved program to expand rail and bus transit throughout the Denver metropolitan region. The Eagle Project is being procured through a concession agreement between RTD and Denver Transit Partners to design, build, finance, operate, and maintain the project's components for 34 years.
Foley Beach Express - Baldwin County, Alabama
The Foley Beach Express (Beach Express) is a 13.5-mile limited access, privately-operated four-lane route from the City of Foley to Orange Beach, Gulf Shores, and Perdido Key in Alabama. It is in alternative to the heavily traveled Highway 59.
Heartland Corridor - Virginia, West Virginia, Kentucky, Ohio
Due to the Norfolk Southern's rail network, the Port of Virginia (Newport News) has always had good rail access to the Midwest markets. The Heartland Corridor project makes the most direct rail route to the major markets of Columbus and Chicago accessible to double-stack container trains and shortens trip-times. Extending through Virginia, West Virginia, Kentucky and Ohio, the Heartland Corridor consists of series of five separate intermodal projects designed to improve mobility and increase freight capacity.
Hudson-Bergen Light Rail - Hudson/Bergen Counties, New Jersey
The $1.0 billion, 9.5-mile initial operating segment was procured using innovative 15-year DBOM contract, resulting in an estimated 8 years in savings compared to a traditional multiple design-bid-build approach. The contract was later renegotiated to cover Segments II ($1.2 billion) and III ($100 million) that extended the rail another 7 miles, adding 8 stations.
I-4 / Selmon Expressway Connector - Tampa, Florida
The I-4 Connector is an elevated north-south toll road that will connect I-4 with the Selmon Expressway, two major east-west corridors in the Tampa region. The Connector will have exclusive truck lanes to provide direct access to the Port of Tampa and remove commercial traffic from local roads in Ybor City. The project is being delivered using a design-build-finance approach.
I-495 Capital Beltway HOT Lanes - Fairfax County, Virginia
The I-495 Capital Beltway HOT Lanes project is a P3 between VDOT and Capital Beltway Express, LLC, a joint venture of Fluor and Transurban. Improvements include 14 miles of twin HOT lanes in each direction, the replacement of more than 50 bridges and overpasses, and interchange upgrades. Financing includes the first-ever combination of TIFIA credit assistance and private activity bonds (PABs).
I-595 Corridor Roadway Improvements - Broward County, Florida
The I-595 Corridor Roadway Improvements project consists of the reconstruction and widening of 10.5 miles of the I-595 mainline from the I-75/Sawgrass Expressway to I-95. The project is being implemented as a P3 between FDOT and a private concessionaire, I-595 Express, LLC, to design, build, finance, operate, and maintain the roadway for a 35-year term. FDOT will make availability payments backed by Federal and state resources for the concessionaire's successful completion of construction and ongoing operations. The concessionaire's financing, backed by these availability payments, includes senior bank debt, a TIFIA loan, and private equity.
I-95 HOV/HOT Lanes - Fairfax, Prince William, and Stafford Counties, Virginia
The I-95 Express Lanes will be the second step in creating a regional network of tolled managed lanes in Northern Virginia. The project consists of the development, design, finance, construction, maintenance and operation of 29.4 miles of high occupancy toll lanes along I-95 and I-395 from Garrisonville Rd. in Stafford County to Edsall Rd. in Fairfax County over a 76-year concession period.
IH 635 Managed Lanes - Dallas County, Texas
The IH-635 (LBJ Freeway) Managed Lanes Project will relieve congestion north of Dallas on a 13-mile stretch of the LBJ Freeway with reconstruction of its main lanes and frontage roads and the addition of six managed lanes along I-635 (subsurface) and I-35E (elevated). The project is being built as a P3 (Comprehensive Development Agreement [CDA]) between TxDOT and LBJ Infrastructure Group, which will operate and maintain the facility for 52 years.
Indiana Toll Road - Indiana
In operation since 1956, the Indiana Toll Road stretches 157 miles across the northernmost part of Indiana from its border with Ohio to the Illinois state line, where it provides the primary connection to the Chicago Skyway and downtown Chicago. The Indiana Toll Road was leased to a consortium of Cintra and Macquarie in 2006 for an upfront payment of $3.8 billion, which is primarily being reinvested in statewide roadway and bridge improvement projects.
Intercounty Connector - Maryland
The Intercounty Connector (ICC) is a toll highway linking existing and proposed development areas between the I-270/I-370 and I-95/US 1 corridors within central and eastern Montgomery County and northwestern Prince George's County, Maryland. The project is largely supported by GARVEE and toll revenue bonds, as well as a TIFIA loan and State Transportation Trust Fund and General Fund revenues.
Interlink (formerly Warwick Intermodal Station) - Warwick, Rhode Island
Interlink, formerly the Warwick Intermodal Station project, is an intermodal project connecting air, rail, bus, automobiles, and rental cars at T.F. Green Airport in Warwick, RI that serves the Providence area and Southern Massachusetts. The project consisted of construction of a new commuter rail station with an enclosed walkway connection to the airport and a consolidated rental car center and parking garage.
Katy Freeway Reconstruction - Houston, Texas
TxDOT undertook a major five-year reconstruction of a 12-mile section of the east-west Katy Freeway from west of SH 6 to the I-10/610 interchange west of Houston. The reconstruction widened the Katy to provide six general purpose highway lanes in each direction and two variably priced high occupancy toll lanes in the median of the highway. The financing of the $2.8 billion project has involved an innovative collaboration between TxDOT and the Harris County Toll Road Authority, combining toll-backed debt with more traditional grant funding.
King Coal Highway - West Virginia
The King Coal Highway is a planned four-lane highway approximately 90 miles long running through McDowell, Mercer, Mingo, Wyoming, and Wayne counties along or near currently existing US Route 52. The highway is divided into 11 usable and operationally independent sections. Some of the construction work is being done by local mining companies as they extract coal from the surrounding areas near and on the new highway alignment.
LA 1 Improvements - Leeville, Louisiana
The Louisiana Department of Transportation and Development is in the process of replacing a major portion of existing LA 1 highway near Leeville, Louisiana, with a lengthy, 18-mile bridge. This area of the state's sensitive wetlands has been featured nationally as being the victim of coastal erosion and ground subsidence.
Las Vegas Monorail - Las Vegas, Nevada
The Las Vegas Monorail was originally a joint venture between MGM Grand and Bally's Hotel, creating a one-mile system linking the hotels in 1993. Plans for expansion further along the Strip led to the State of Nevada in 1997 passing legislation that enabled a private company to own, operate, and charge a fare as a public monorail system.
Louisiana TIMED Program - Louisiana (statewide)
The TIMED (Transportation Infrastructure Model for Economic Development) Program is a $4.6 billion transportation infrastructure program designed to increase economic development in Louisiana by investing in transportation improvement projects. It is an innovative capital program financed by a 4-cent gas tax and expedited by a partnership with a private program manager.
Miami Intermodal Center - Florida
Located next to the Miami International Airport (MIA), the Miami Intermodal Center is a large ground transportation hub incorporating a Rental Car Center, the Miami Central Station serving local rail transit, commuter rail, Amtrak, and intercity bus transit, major roadway improvements, the MIA Mover and future joint development. Federal, state, and local funding is supporting this $2 billion program.
North Tarrant Express - Dallas-Fort Worth Metroplex
TxDOT awarded two Comprehensive Development Agreements (CDA - equivalent to a P3) for the North Tarrant Express project to NTE Mobility Partners. The Concession CDA for Phase 1 includes the design, development, construction, finance, maintenance, and operation of 13 miles along Interstate (IH) 820 and SH 121/SH 183 north and east from Fort Worth. The duration of the concession is 52 years. The roadway is being reconstructed with the addition of two managed lanes and an additional general purpose lane in each direction. The CDA for Segments 2-4 includes developing master plans for the remainder of the NTE.
Northwest Corridor Project – Atlanta, Georgia
The Northwest Corridor project will include extensions of existing HOV lanes and the addition of reversible tolled managed lanes along sections of nearly 30 miles of I-75 and I-575 northwest of Atlanta. The nearly $1 billion project will delivered using a design-build-finance approach.
Pocahontas Parkway / Richmond Airport Connector - Greater Richmond, Virginia
This $354 million project was financed by tax-exempt toll revenue bonds issues by a 63-20 corporation. It is the first transportation project implemented under Virginia's Public-Private Transportation Act of 1995. The Parkway was leased to a private toll road operator in 2007. The deal defeased its underlying debt and included the construction of the 1.6-mile Richmond Airport Connector, which opened in January 2011.
Port of Miami Tunnel - Florida
The Port of Miami Tunnel will improve access to and from the Port of Miami, serving as a dedicated roadway connector linking the Port (located on an island in Biscayne Bay) with the MacArthur Causeway and I-395 on the mainland. The project is being developed as a P3 with Miami Access Tunnel, LLC (MAT). The state has agreed to pay for approximately 50 percent of the capital costs (design and construction) and all operations and maintenance, while the remaining 50 percent of the capital costs will be provided by the local governments. FDOT will make milestone payments to MAT at various stages of project development, followed by availability payments during a 30-year concession. Senior bank debt, a TIFIA loan, and private equity have been used to finance the project.
President George Turnpike - North Dallas, Texas
The President George Bush Turnpike (PGBT) is a 30.5-mile circumferential toll roadway connecting various cities in the northern part of the Dallas Metroplex. The original PGBT was fully opened in 2006 and was the first project to benefit from USDOT's TE-045 innovative finance provisions including a Section 129 loan, partial conversion of advance construction, and the use of flexible match. Construction on an Eastern Extension began in October 2008 and was opened in December 2011. The project was sponsored by the North Texas Tollway Authority and financed by toll-backed revenue bonds and other state and local resources.
President George Bush Turnpike Western Extension (SH 161) - Dallas, Texas
State Highway (SH) 161, the President George Bush Turnpike Western Extension (PGBT WE), will provide a new, approximately 11.5-mile link between SH 183, I-30, and I-20 as part of a western loop around Dallas through the cities of Irving and Grand Prairie south of Dallas-Fort Worth International Airport. This toll road was completed in four phases. The first three were constructed by TxDOT and the remaining phase and overall ownership and operation has become the responsibility of the North Texas Tollway Authority under a concession agreement signed in 2008.
Puerto Rico PR-22 and PR-5 Lease - Puerto Rico
PR-22 and PR-5, heavily traveled toll roads stretching about 55 miles along the northern coast of Puerto Rico from Bayamon westward through San Juan to Arecibo, are being leased to consortium of Goldman Sachs and Abertis. The total $1.436 billion administrative concession will finance, rehabilitate, operate, and maintain the facilities over 40 years. Of that total, $1,080 million is an upfront payment of which at least 90% will be used to defease all outstanding tax-exempt toll-revenue debt ($902 million), and approximately $350 million will be expended on expected upgrades over the concession period, $56 million of which will be spent in the first three years on "accelerated safety improvements."
Reno Transportation Rail Access Corridor (ReTRAC) - Reno, Nevada
Traffic congestion and safety concerns brought about the largest public works project ever undertaken in Northern Nevada, the Reno Transportation Rail Access Corridor, or ReTRAC. The project depressed a 2.3-mile stretch of freight rail that ran through downtown, eliminating 10 at-grade street crossings.
Route 3 North - Boston, Massachusetts
Financed using tax-exempt 63-20 debt and leveraging lease payments pledged by the Massachusetts Highway Department, the Route 3 North project involved widening an existing 21-mile highway northwest of Boston from two to three lanes in each direction. The project included the creation of a 30-foot median to accommodate fiber optic line and other utilities, and the replacement of 40 bridges.
SH 130 (Segments 5-6) - Austin, Texas Metropolitan Area
SH 130 is a four-lane, 91-mile toll road east and south of Austin designed to relieve congestion on the heavily traveled I-35, the primary north-south route through Central Texas. Segments 5 and 6 have been developed through a 50-year concession (Comprehensive Development Agreement) with the SH 130 Concession Company (a joint venture of Cintra and Zachry American Infrastructure). They were financed with senior bank debt, a TIFIA loan, and private equity. Segments 1-4 were constructed under a design-build project as part of the Central Texas Turnpike System.
South Bay Expressway (formerly SR 125 South Toll Road) - San Diego County, California
The South Bay Expressway toll road is a 9.2-mile privately-funded southern extension of SR 125, extending from SR 905 near the International Border to SR 54 near Sweetwater Reservoir in San Diego, California. The original operator, South Bay Expressway, L.P., held a 35-year franchise with the State of California under which it financed and built the highway, then transferred ownership to the State. The concessionaire emerged from bankruptcy in April 2011 as South Bay Expressway, LLC, and sold the toll road to the San Diego Association of Governments in December 2011.
SR 520 Floating Bridge - Seattle, Washington Metropolitan Area
SR 520 is one of two major east-west roadways crossing Lake Washington, located within King County and the Seattle metropolitan area in the State of Washington. The SR 520 Floating Bridge and Eastside plus West Approach Bridge Project includes the replacement of the existing floating bridge across Lake Washington, the widening of the roadway to the east and accommodation of a transit/HOV lane, and the west approach project connecting to the floating bridge on the Seattle side. Project financing includes toll-backed revenue bonds and a TIFIA loan supported by tolls collected on the existing and replacement bridges, in combination with other federal and state funding.
Transbay Transit Center - San Francisco, California
The Transbay Transit Center Project will replace the current Transbay Terminal with a new multimodal transportation center and centralize the region's transportation network by accommodating nine transportation systems under one roof. The project consists of replacing the outdated Transbay Terminal with a modern transit hub, extending the Caltrain rail line from its current terminus and accommodating high-speed rail, and redeveloping the area surrounding the Transbay Transit Center.
Triangle Expressway - Raleigh-Durham, North Carolina
The 18.8-mile Triangle Expressway, composed of three sections, provides congestion relief on existing north-south routes serving the Research Triangle Park region (including I-40) between Raleigh and Durham. The project is being financed with toll and state revenue bonds and a $386 million TIFIA loan.
U.S. 36 Managed Lanes / Bus Rapid Transit Project: Segments 1 and 2 - Denver Metro Area, Colorado
A 10-mile stretch of U.S. 36, a four-lane divided highway connecting Denver and Boulder, will be reconstructed and augmented with a single HOT lane in each direction as part of an initial phase of planned upgrades over this 18-mile corridor. The design-build project will also include the reconstruction of five bridges, accommodations for bus rapid transit, provision for ITS, improvements to commuter rail stations, and a bikeway. Financing includes a TIFIA loan facilitated by a TIGER grant, as well as a mixture of federal, state, and local funding, including $120 million from the Regional Transportation District's FasTracks program supported by a regional sales tax. The project's second phase will extend the work another five miles toward Boulder and is being procured as a DBFOM P3, where the concessionaire is expected to operate and maintain the entire U.S. 36 HOT lane corridor as well as the existing I-25 Express Lanes that start at its southern terminus.
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