The Bay Area Toll Authority - Back to the Future?

1. The Bay Area Toll Authority - Back to the Future? Conference on California InfrastructureMarch 6, 2008 Steve Heminger Executive Director

2. Back to the Future? • California Toll Bridge Authority • Separate from the California Division of Highways – predecessor of Caltrans

3. Bay Area’s Network • The Metropolitan Transportation Commission (MTC) is the regional transportation planning organization for the San Francisco Bay Area • 400 miles of carpool lanes • 1,400 miles of highway • 19,000 miles arterial streets • 7,000 miles of transit routes

4. Bay Area’s Toll Bridges • The Bay Area Toll Authority (BATA) oversees seven state-owned toll bridges in the San Francisco Bay Area • San Francisco-Oakland Bay • San Mateo-Hayward • Dumbarton • Richmond-San Rafael • Carquinez • Benicia-Martinez • Antioch * * Golden Gate Bridge owned and operated by the Golden Gate Bridge, Highway and Transportation District (GGBHTD)

5. Bay Area’s Toll Bridges

6. Toll Structure and Revenues • Toll Structure • Regional Measure 1 (1989) $1 • Seismic Surcharge (1998) $1 • Regional Measure 2 (2004) $1 • Seismic Surcharge (2007) $1 Total Auto Toll $4 • Annual Toll Revenues • Regional Measure 1 (1989) $130 M • Seismic Surcharge (1998) $120 M • Regional Measure 2 (2004) $120 M • Seismic Surcharge (2007) $120 M Total Annual Revenues $490 M

7. Earthquakes • 1989 Loma Prieta • 6.9 Magnitude • 60 miles from SF

8. Toll Bridge Seismic Retrofit Program • $8.7 Billion Retrofit Program on the following bridges: • San Mateo-Hayward (2000) • Carquinez (2002) • Benicia-Martinez (2002) • Richmond-San Rafael (2005) • San Francisco-Oakland Bay (Under Construction)

9. Seismic Retrofit Program Status

10. SFOBB East Span Seismic Safety Replacement Project SAS YBI Transition Skyway

11. SFOBB East Span Seismic Safety Replacement Project

12. Oakland Touchdown Contract

13. Oakland Touchdown Contract

14. Skyway

15. SAS E2/T1 Foundations

16. SAS T1 Tower Foundation

17. SAS Contract

18. SAS Contract

19. Yerba Buena Island – Labor Day 2007

20. Yerba Buena Island Detour Contract

21. Yerba Buena Island Detour Contract

22. SFOBB West Approach Project

23. SFOBB West Approach Project

24. Regional Measure 1 Program • $2.4 Billion Congestion Relief and Capital Improvement Program including: • San Mateo-Hayward Bridge Widening (2003) • New Carquinez Bridge (2004) • Richmond-San Rafael Bridge Trestle Replacement (2005) • Richmond-San Rafael Bridge Deck Overlay (2006) • New Benicia-Martinez Bridge (2007) • I-880/SR-92 Interchange Reconstruction (Construction)

25. Regional Measure 1 Program Status

26. New Carquinez Bridge (2003)

27. Benicia-Martinez Bridge (2007)

28. Benicia-Martinez Bridge (2007)

29. 880/92 Interchange Project

30. The RM2 funding program is primarily oriented towards transit alternatives RM2 provides partial funding to projects, balance provided by project sponsor If funding or project fails, BATA can reallocate funding to different project in the same bridge corridor Regional Measure 2Capital Project Program

31. Regional Measure 2 Operating Program • RM2 provides a key source of funding for a variety of new transit services • Operating cost payments are subordinated to debt service

32. BATA’s Debt Portfolio • Current BATA debt portfolio is $5.4 billion • $2.5 billion fixed rate debt • $2.9 billion variable rate debt • The weighted cost of the entire “AA” portfolio is $ 4.20%, as of January 2008 • BATA’s goal to deliver the entire $12 billion toll construction program within the $4.00 toll structure

33. BATA’s Efficient Credit

34. BATA’s Strong Credit

35. FasTrak® Electronic Toll Collection System

36. Strong FasTrak® Account Growth

37. Increasing FasTrak® Usage

38. Expanding FasTrak® Options

39. 2035 Regional Transportation Plan • Vision Performance Objectives • Economy • Environment • Equity • Infrastructure alone does not achieve objectives • Pricing will have a bigger effect

40. Regional HOT Network • HOT Network introduces pricing; revenue pays to expand carpool lane and express bus systems • Demonstration HOT lanes in Alameda, Santa Clara Counties

41. Regional HOT Network Study • HOT network could: • Help manage HOV lanes • Reduce delay and emissions • Be phased in by 2025 • Pay for itself over 30-years, freeing up STIP revenue • Must be approached as a regional network • New institutional arrangements required for governance and revenue pooling

42. Accountability WILL KEMPTON Director California Department of Transportation STEVE HEMINGER Executive Director Bay Area Toll Authority JOHN F. BARNA, JR. Executive Director California Transportation Commission • AB 144 established the Toll Bridge Program Oversight Committee, composed of Director of the California Department of Transportation (Caltrans), and the Executive Directors of the California Transportation Commission (CTC) and the Bay Area Toll Authority (BATA), to be accountable for delivering the SRP.

43. Unfinished Business • Dumbarton and Antioch Bridge Retrofits • Bike/Pedestrian Access – 2 ½ bridges to go • Regional Measure 3 • Open Road Tolling • Asset Ownership?