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Governor’s Task Force on Modernizing Transportation Funding in Idaho

Governor’s Task Force on Modernizing Transportation Funding in Idaho. October 8, 2010. 1. Net Revenue to the HDA (By Fiscal Year, August 2010 Forecast). FY 2011 and FY 2012 are Forecasted. Total Tax Collections to the HDA. Federal Funding Update. GARVEE Questions Addressed.

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Governor’s Task Force on Modernizing Transportation Funding in Idaho

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  1. Governor’s Task Force onModernizingTransportation Fundingin Idaho October 8, 2010 Transportation Funding Taskforce — Oct. 8, 2010 1

  2. Net Revenue to the HDA(By Fiscal Year, August 2010 Forecast) FY 2011 and FY 2012 are Forecasted Transportation Funding Task Force — Oct. 8, 2010

  3. Total Tax Collections to the HDA Transportation Funding Task Force — Oct. 8, 2010

  4. Federal Funding Update Transportation Funding Taskforce — Oct. 8, 2010

  5. GARVEE Questions Addressed • Current debt service in amount and percent of legislative cap. • Proposed debt service (fixed scope program) in amount and percent of legislative cap. • Why hasn’t GARVEE reduced the needs being shown the Task Force? • What impact is GARVEE having on the Highway Cost Allocation Study (HCAS)? What happens if it is removed? Transportation Funding Task Force — Oct. 8, 2010

  6. Current Debt Service(in millions) Bonds sold to date provide funds to finance $657 worth of projects Transportation Funding Task Force — Oct. 8, 2010

  7. Estimated Total GARVEE Program Debt Service (in Millions) Estimated total program will finance $855M worth of projects Transportation Funding Task Force — Oct. 8, 2010

  8. GARVEE Program Accelerate construction on six corridors within a fixed scope • US 95 Garwood to Sagle • US 95 Worley to Setters • Idaho 16 • I-84 Caldwell to Meridian • I-84 Orchard to Isaacs Canyon • US 30 McCammon to Lava Hot Springs Transportation Funding Task Force — Oct. 8, 2010

  9. Why Hasn’t the GARVEE Program Reduced the Needs Shown the Task Force? • GARVEE projects have been accounted for in needs analysis • ITD has approx 12,000 lane miles • Need to treat 1/20th or 600 miles per year • Existing lanes treated by GARVEE program is 112 miles • Time period is 2007–2013 or 7 years (16 miles/year) • Presented as shortfall 290 lane miles per year • New lanes added by GARVEE Program is 97 miles Transportation Funding Task Force — Oct. 8, 2010

  10. Why Hasn’t the GARVEE Program Reduced the Needs Shown the Task Force? • ITD has 1,777 bridges or 11.4 M sq. ft. of deck area • Design life is 50 years • GARVEE program funded bridge work • Replaced 13; modified/expanded 5; new 16 • Replaced 107,438 sq. ft. • Added 472,470 sq. ft. • Time period is 2007-2013 or 7 years (15,348 sq. ft.) • Presented as shortfall 166,000 sq. ft. per year • GARVEE funding adds no new money to the program Transportation Funding Task Force — Oct. 8, 2010

  11. GARVEE Impact on Highway Cost Allocation Study (HCAS) • The HCAS considered GARVEE two ways in the study period (FY07-FY12) • Total expenditures and debt service only (ITD recommended) • Debt service treatment is pay-as-you-go (traditional) • If the GARVEE was removed, what type of projects should those expenses be charged under pay-as-you-go? • The financing is not the factor, project selection is • If the same types of projects were built without GARVEE, there would be no change in the equity ratios Transportation Funding Task Force — Oct. 8, 2010

  12. Questions? Transportation Funding Task Force — Oct. 8, 2010

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