156 Toll Road Study and Appendices - Transportation Agency for ...

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What amount will an individual be tolled?Determining a preferred toll rate consisted of balancing between revenue generated by tollingand the amount of traffic that diverts onto other roadways. A Survey of Acceptability of a TollRoad performed by the Monterey Bay Aquarium reported that opinions for tolling Highway 156ranged from users against tolling to users willing to pay up to $2.50 per direction. Based onthese findings, this study examined a range of toll rates from $0.50 to $2.50 per direction. Forpurposes of this study, a directional toll rate on weekdays of $1.60 for passenger vehicles and$2.50 for trucks and on weekends $2.50 for all vehicles was selected. In addition, this study'sresults assume Castroville and Prunedale residents will not pay a toll.Concerns have been raised about Highway 156 users living in close proximity to Highway 156paying a toll. Over 50% of traffic that travels on Highway 156 has origins and destinations withinthe County. Discounting 50% of the Highway 156 traffic would have a significant impact ontoll revenue. An investigation was performed into discounting only Prunedale and Castrovilleresidents, local communities located on either end of Highway 156 with a total population ofapproximately 24,000 4 . It was determined that allowing Prunedale and Castroville residents,approximately 12% of Highway 156 traffic, to travel toll free on an improved Highway 156 isfeasible; however this would result in less toll revenue for Phase 2.Determining the toll rates and which users, if any, will be discounted will be further studied andrefined in the next phase of this project.How will tolls be collected?Electric tolling, allowing for non-stop, reliable and safe travel, was considered for this study.Electronic tolling allows drivers to pay tolls without stopping at toll plazas and to do so atprevailing traffic speeds. Electronic toll collection is typically performed through the use of tagreaders and cameras mounted on overhead gantries.Discounts based on whether or not a traveler lives in Prunedale or Castroville were investigatedas part of this study; however additional discount plans could be investigated and further refinedin the next phase of this project, such as, vehicle occupancy, frequency of use, duration of use,and emission standards.STATE ROUTE 156 Tolling Traffic and Revenue Study [ 11 ]
What are the next steps?The Tolling Traffic and Revenue Study Highway 156 Corridor Study demonstrates the followingresults:• Toll revenues will be sufficient to finance capital costs of Route 156 West Corridor, Phase1, a new alignment, four-lane Highway 156 and a new interchange at Highway 156 andCastroville Boulevard.• Toll revenue generated by the opening of Phase 1 can, at some point in time, providesufficient funding to construct Phase 2. Scheduling of Phase 2 improvements will befurther investigated and refined in the next phase of this project.• With the additional travel benefits associated with Phase 2, it is anticipated that Phase 2(together with excess revenue from Phase 1) would generate approximately $85 millionof additional funding in the year 2025 after paying for Phase 1 construction; howeverthis additional funding falls short of the Phase 2 funding requirements, approximately$160 M.To continue to determine if a new funding source, specifically tolling, could generate sufficientrevenue to construct a new alignment Highway 156 from Castroville to Prunedale in northMonterey County, the following next steps must be performed:• Supplemental Environmental Document• Investment Grade Traffic and Revenue Study• Public Outreach / Involvement• Financial Analysis and Models• Concept of OperationsRefinement to the traffic and revenue as part of the above analyses will provide a more detailedand robust set of financial results.[ 12 ] STATE ROUTE 156 Tolling Traffic and Revenue Study
Page 5: STATE ROUTE 156 Tolling Traffic and
Page 8 and 9: Historic scheduling of these improv
Page 10 and 11: The Route 156 West Corridor Project
Page 12 and 13: e sought to support the constructio
Page 14 and 15: Why can’t we improve the intercha
Page 18: STATE ROUTE 156 Tolling Traffic and
Page 21 and 22: STATE ROUTE 156 Tolling Traffic and
Page 23 and 24: Updated 10-1-12
Page 25: Updated 10-1-12
Page 28 and 29: APPENDIX BTraffic and Revenue Forec
Page 30 and 31: M E M O R A N D U MDate: May 10, 20
Page 32 and 33: Tolling Traffic and Revenue Study H
Page 48 and 49: Revenue Schedule - Tolling Plan "B"
Page 50 and 51: Revenue Schedule - Tolling Plan "D"
Page 52 and 53: APPENDIX CFinancial Feasibility Ana
Page 54 and 55: 50 California StreetSuite 2300San F
Page 56 and 57: Highway 156 Financial Feasbility An
Page 64 and 65: SR 156Scenario A; April 08, 2013I.
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III. Debt Service CoveragePledged C
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V. TIFIA LLCR and ReserveSurplusTIF
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VII. SpreadsMMD as ofAAA Taxable as
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II. Bonds Debt ServiceCIB 1 CIB 1 C
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IV. TIFIA Loan ScheduleCurrent Year
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VI. Aggregate Flow of FundsResidual
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SR 156Scenario C Phase 1; April 08,
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III. Debt Service CoveragePledged C
Page 82 and 83:
V. TIFIA LLCR and ReserveSurplusTIF
Page 84 and 85:
VII. SpreadsMMD as ofAAA Taxable as
Page 86 and 87:
II. Bonds Debt ServiceCIB 1 CIB 1 C
Page 88 and 89:
IV. TIFIA Loan ScheduleCurrent Year
Page 90 and 91:
VI. Aggregate Flow of FundsResidual
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156 Toll Road Study and Appendices - Transportation Agency for ...

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