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The Alamo RMA Contract with the Community

The Alamo RMA Contract with the Community. Provide local leadership and control over transportation projects to keep our economy moving Accelerate the construction of needed multi-modal transportation projects to address quality of life issues

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The Alamo RMA Contract with the Community

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  1. The Alamo RMA Contract with the Community • Provide local leadershipand control over transportation projects to keep our economy moving • Accelerate the construction of needed multi-modal transportation projects to address quality of life issues • Leverage federal, state, regional and local funds through the use of all available funding tools • Ensure that motorists will always have a choice between tolled and non-tolled lanes, and work to develop other multi-modal projects to help keep our region moving • Increase travel safety for our community by decreasing congestion

  2. 80th Legislative Session – What was accomplished? • No new revenue • Gas tax – not indexed, not increased • Increased diversion - $1.5 billion in the biennial budget, an increased of $242.5 million over the last budget • More Federal recessions are expected • Highway Construction Cost Inflation continues to increase – approximately 73% increase since 2002 -3-

  3. Empowering Local Leadership – Life after SB 792 • Moratorium on private concessions for toll roads, with some exceptions. • US 281 is specifically included in the moratorium. • US 281 / Loop 1604 pending concession procurement considered all improvements as part of one project. • Empowers local toll project entities – right of first refusal • Grants local toll project entities the right to state right of way without having to pay for the right of way usage -4-

  4. Seamless Transition • Alamo RMA and TxDOT have spent last 12 months developing business terms, project build out, and financing model for the proposed concession CDA project • TxDOT has advanced project design to various levels along the corridor • The Alamo RMA and TxDOT are working jointly on a transfer plan to turn over all files and development authority for the US 281 and Loop 1604 project to the Alamo RMA before the end of this year. -5-

  5. Public Project – SB 792 • US 281/ Loop 1604 to be built as a publicly financed added capacity tolled lane project. • MPO current equity - $428 million – 10 year plan • Estimated total construction cost of the US 281/ Loop 1604 project - $2.2 billion • Market valuation study underway -6-

  6. Market Valuation Study • Prior work done on development of business terms for the proposed concession CDA have been incorporated into the market valuation process: • Growth forecast model • Initial toll rates • Escalation methodology • Project scope • Anticipated build out schedule • Financing Model -7-

  7. Market Valuation Study • Anticipate presentation on market valuation study results to the San Antonio Bexar County MPO in the August / September time frame -8-

  8. Market Valuation Study • Overview of the Market Valuation Process: • 1. RMA or TxDOT determines that a project should be developed as a toll project. • 2. RMA and TxDOT mutually agree on business terms for development of the project (including initial toll rates and toll rate escalation methodology). • 3. RMA and TxDOT mutually agree on a third party to develop a market valuation based on the agreed business terms • 4. RMA and TxDOT have 90 days after receipt of draft market valuation to approve or negotiate a different valuation. • If the RMA and TxDOT cannot agree on a valuation within 90 days, draft market valuation is deemed final and accepted.

  9. Market Valuation Study (continued) • 5. RMA area only: MPO shall determine whether toll project should be developed using the business terms in the MV. • If the MPO does not approve of development based on the business terms, neither party may develop the project as a toll project on those terms and the market valuation process starts again. • 6. After market valuation is final RMA has 6 months to exercise first option to develop project. • 7. If the RMA’s right of first refusal option is exercised, within 2 years after completion of environmental clearance the RMA must: • enter into a contract for construction of the project; and • for a period to be agreed to by TxDOT and the RMA, commit to using surplus revenues from the project to build additional transportation projects in an amount equal to the market valuation

  10. Benefits of the Market Valuation Process • Establishes transparent process for creating business terms including: • setting initial toll rate • setting toll escalation methodology • valuation of toll project asset to the region • Ensures re-investment in the community by the pledge of future surplus revenue from the RMA • Provides locally appointed and operated RMAs the right of first refusal to develop toll projects within the RMA boundaries • Further secures role of the MPO within the toll process

  11. Timeline for Project Transfer and Development • Recent Events: • June 14, 2007 - Texas Transportation Commission meeting to identify toll projects across the state, including market valuation process working with local toll project entities • June 14, 2007- Alamo RMA Board of Directors meeting to pass resolution expressing intent to exercise right of first refusal to develop the US 281 and Loop 1604 toll project • June 26, 2007 – Public Hearing on the Loop 1604 environmental assessment at Alzafar Shrine, 901 N. Loop 1604 West • June 22 & 29, 2007 – Alamo RMA and TxDOT District office meetings to develop business terms for market valuation study. -12-

  12. Timeline for Project Transfer and Development (continued) • July / August / September – • Alamo RMA redirects existing toll equity funds and seeks project development authority. • Alamo RMA develops capital plan for public financing and project. • Alamo RMA will present detailed update, including market valuation study, to the San Antonio Bexar County Metropolitan Planning Organization. • October / November / December – • Alamo RMA develops bid documents for first segment of project and statement documents for bond sale. -13-

  13. Alamo RMA on right track seizing local control San Antonio Express News Editorial June 19, 2007

  14. US 281 and Loop 1604 • Ensures LOCAL control over this vital transportation project • Provides a CHOICEfor residents and commuters beyond being stuck in congestion and traffic • ACCELERATESneeded projects today instead of waiting decades for traditional funding • Will build the FOUNDATIONfor a self sustaining toll system within Bexar County -15-

  15. Local Leadership Local Control

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