Pasco’s Northern Loop – Managed Lanes Managed Lanes an Emerging Regional Strategy RSH Study- Alternative 6 Set the Stage for the Concept General Support, but we must Establish Revenue Potential Will Weatherford wants us to “Go On Transportation Offensive” Secretary Prasad wants us to “THINK BIG” FDOT wants to accelerate PPP private funding projects CCC Regional Priority List made project No. 5 in the TOP TEN Economic Development Interests want road and transit capacity Pasco Joins Tampa Bay Economic “Big League”
SR 54/56 PASCO Corridor ConceptElevated Managed Lanes (Alternative-6 , RSH/ DOT Study) FUNCTIONAL This elegant Segmented Precast allows 4 elevated toll lanes to flow over the 6 “free” at grade Lanes BUILDABLE Median located and built with staged MOT with day and night schedule BRT READY Market Driven Transit- Balances ADT
Action Time IS NOW– Key Issues! • LRTP & TBARTA Master Plan Proposes Managed Lanes • Action Needed (Capacity &Transit-Not 25 years out ) • Major Intersections / Segments Failing • PPP Opportunity Real and stressed by FDOT (Prasad) • Pasco 54/56 Developers Need ROW Requirements (Starkey, Smith 54, Wiregrass, Mitchell/Western Hub and Others) • Construction Prices Lowest and Will Rise • Interest Rates Low Point in History and Will Rise
Stakeholder Involvement “Expansion” SHOW ME THE MONEY ! SHOW ME THE MONEY ! SHOW ME THE MONEY ! Capital Project Investment Team Public and Private Partnerships SHOW ME THE MONEY ! Every Player Needs a Quality Toll Revenue Planning Number!
SR 54/SR 56 TRANSIT/MANAGED LANE AND TOLL STUDY Study Objectives Assess the ROW needs associated with the elevated and/or at-grade managed lane concept along the SR 54/56 corridor (US 19 to US 301) Perform planning-level build toll demand traffic estimates, assess optimal toll rates, revenue estimates, O&M costs, etc.
ALTERNATIVE SIX Develop Toll and Transit • Alt 6: Express Bus/Managed Lanes – 4 Lanes Elevated
Managed Lanes Alternatives AADT • 4 Managed Lanes Grade-Separated (Alternative 6) $0.14/mile $0.21/mile
Managed Lanes Gross Rev. Back of Envelope! .14c /Mile $50,000,000 Annual Rev. Est. RSH Study ADT projected for 2035 Study Date .21c /Mile
Preliminary Schedule Total Schedule: 8 Months
CURRENT STATUS –Right of Way Lease • 3 Phase Unsolicited Bid • DOT Received June 2013 • Open 60 Day Response • Oct 23rd Due Date • November Award Announcement