Texas Toll Road Primer Final Report

Transcription

Texas Toll Road Primer
Final Report
PRC 14-3 F
Texas Toll Road Primer
Texas A&M Transportation Institute
PRC 14-3 F
November 2014
Authors
David Ellis
Brianne Glover
Curtis Beaty
Nick Norboge
Allison Weldon
Jeff Borowiec
Tim Lomax
David Schrank
Table of Contents
List of Figures ................................................................................................................................. 6
List of Tables .................................................................................................................................. 7
Introduction ..................................................................................................................................... 8
Purpose of the Study ................................................................................................................... 8
Study Scope ................................................................................................................................. 8
Preview of Report Organization/Content .................................................................................... 9
Data Used .................................................................................................................................. 11
Review of Financial Documents ............................................................................................... 11
Texas Legislation and Tolling ...................................................................................................... 12
77th Legislative Session ............................................................................................................ 12
81st Legislative Session ............................................................................................................ 16
82nd Legislative Session ........................................................................................................... 17
83rd Legislative Session............................................................................................................ 18
Comparative Summary of Toll Revenue by Toll Facility ............................................................ 20
Limitations of the Comparisons ................................................................................................ 20
Toll Revenue Data by Facility .................................................................................................. 20
Comparing Changes in Toll Revenues over Time .................................................................... 21
Toll Rates and Toll Revenues ................................................................................................... 23
Vehicle Mix and Toll Revenues ................................................................................................ 24
Comparative Summary of Average Toll Rate per Mile ............................................................ 25
Comparing Texas Toll Facilities to the Nation ......................................................................... 27
Texas Toll Road Profiles .............................................................................................................. 30
North Texas Tollway Authority ................................................................................................ 30
Facility Development Cost and Financing Structure ............................................................. 32
Historical Revenue Generation .............................................................................................. 33
Dallas North Tollway ............................................................................................................ 36
President George Bush Turnpike ........................................................................................... 37
3
Sam Rayburn Tollway ........................................................................................................... 38
Harris County Toll Road Authority .......................................................................................... 39
Expenses and Obligations ...................................................................................................... 41
Hardy Toll Road .................................................................................................................... 43
Sam Houston Tollway ........................................................................................................... 44
Westpark Tollway.................................................................................................................. 45
Texas Department of Transportation......................................................................................... 46
Loop 1 North ......................................................................................................................... 51
SH 255 ................................................................................................................................... 52
SH 45 North ........................................................................................................................... 53
SH 130 Segments 1–4 ........................................................................................................... 54
SH 45 Southeast..................................................................................................................... 55
Northeast Texas Regional Mobility Authority .......................................................................... 56
Loop 49 .................................................................................................................................. 58
Central Texas Regional Mobility Authority.............................................................................. 59
Highway 183A Toll Road...................................................................................................... 62
Manor Expressway ................................................................................................................ 63
Cameron County Regional Mobility Authority ........................................................................ 64
SH 550 (Phases I, II, and III) ................................................................................................. 65
Grand Parkway Transportation Corporation ............................................................................. 66
SH 99 Segment E................................................................................................................... 67
Fort Bend County Toll Road Authority .................................................................................... 68
Fort Bend Parkway ................................................................................................................ 69
4
Revenues and Expenses by Toll Agency .................................................................................. 70
TxDOT-Owned Toll Facilities .............................................................................................. 70
NTTA-Owned Toll Facilities ................................................................................................ 71
HCTRA-Owned Toll Facilities ............................................................................................. 72
CTRMA-Owned Toll Facilities ............................................................................................. 73
Toll Road Impacts on Urban Mobility .......................................................................................... 75
Methodology ............................................................................................................................. 75
Results ....................................................................................................................................... 76
Austin..................................................................................................................................... 76
Dallas-Fort Worth .................................................................................................................. 76
Houston.................................................................................................................................. 76
Summary of Analysis ............................................................................................................ 76
References ..................................................................................................................................... 79
5
List of Figures
Figure 1. Number of Registered Passenger Vehicles and Motorcycles and Toll Tags
Issued in Texas.................................................................................................................. 23
Figure 2. North Texas Tollway Authority Facility Map. .............................................................. 31
Figure 3. Dallas North Tollway Map. ........................................................................................... 36
Figure 4. President George Bush Turnpike Map. ......................................................................... 37
Figure 5. Sam Rayburn Tollway Map........................................................................................... 38
Figure 6. Harris County Toll Road Authority Facility Map. ........................................................ 39
Figure 7. Hardy Toll Road Map. ................................................................................................... 43
Figure 8. Sam Houston Tollway Map. .......................................................................................... 44
Figure 9. Westpark Tollway Map. ................................................................................................ 45
Figure 10. Central Texas Turnpike System Facility Map. ............................................................ 47
Figure 11. Loop 1 North Map. ...................................................................................................... 51
Figure 12. SH 255 Map. ................................................................................................................ 52
Figure 13. SH 45 North Map. ....................................................................................................... 53
Figure 14. SH 130 Segments 1–4 Map. ........................................................................................ 54
Figure 15. SH 45 Southeast Map. ................................................................................................. 55
Figure 16. NET RMA Facility Map.............................................................................................. 56
Figure 17. Loop 49 Map. .............................................................................................................. 58
Figure 18. CTRMA System Map. ................................................................................................. 59
Figure 19. Highway 183A Toll Road Map. .................................................................................. 62
Figure 20. Manor Expressway Map. ............................................................................................. 63
Figure 21. CCRMA System Map. ................................................................................................ 64
Figure 22. SH 550 Map. ................................................................................................................ 65
Figure 23. Grand Parkway Facility Map....................................................................................... 66
Figure 24. SH 99 Segment E Map. ............................................................................................... 67
Figure 25. Fort Bend County Toll Road Authority System Map. ................................................ 68
Figure 26. Fort Bend Parkway Map. ............................................................................................. 69
Figure 27. Estimated CTTS Revenues and Expenses. .................................................................. 70
Figure 28. Estimated Camino Colombia Revenues and Expenses. .............................................. 71
Figure 29. Estimated NTTA Revenues and Expenses. ................................................................. 72
Figure 30. Estimated HCTRA Revenues and Expenses. .............................................................. 73
Figure 31. Estimated CTRMA Revenues and Expenses. ............................................................. 74
Figure 32. Mobility Impacts of Removing Toll Road Capacity. .................................................. 78
6
List of Tables
Table 1. Texas Tolled Facilities Reviewed for This Report. ........................................................ 10
Table 2. Public Toll Facilities Not Reviewed in This Report. ...................................................... 11
Table 3. 77th Legislative Session Key Toll Road Legislation (2001). ......................................... 12
Table 7. 81st Legislative Session Key Toll Road Legislation (2009). ......................................... 17
Table 8. 82nd Legislative Session Key Toll Road Legislation (2011). ........................................ 18
Table 9. 83rd Legislative Session Key Toll Road Legislation (2013). ......................................... 19
Table 10. Summary of Annual Toll Revenues for Texas Toll Roads. .......................................... 21
Table 11. Annual Percent Change in Toll Revenue for Texas Toll Roads. .................................. 22
Table 12. An Example of the Impact of Vehicle Mix on Toll Revenues. .................................... 25
Table 13. Average Toll Rate per Mile by Toll Tag in Texas. ....................................................... 26
Table 14. Comparison of Toll Rates for Non-interstate Toll Roads in the United States (). ........ 27
Table 15. NTTA Toll Facility Financial Structure. ...................................................................... 32
Table 16. Summary of NTTA Outstanding Obligations (in Millions of Dollars). ....................... 33
Table 17. NTTA Historical Revenue Generation (in Millions of Dollars). .................................. 34
Table 18. NTTA Income Statement (in Millions of Dollars). ...................................................... 34
Table 19. HCTRA Toll Facility Financial Structure. ................................................................... 40
Table 20. HCTRA Historical Revenue Generation (in Millions of Dollars). ............................... 41
Table 21. HCTRA Income Statement (in Millions of Dollars). ................................................... 41
Table 22. CTTS Financial Structure. ............................................................................................ 48
Table 23. Summary of CTTS Outstanding Obligations................................................................ 48
Table 24. CTTS Toll Revenue Summary (in Millions of Dollars). .............................................. 49
Table 25. Example of Operating and Non-operating Revenues and Expenses. ........................... 49
Table 26. CTTS Income Statement (in Millions of Dollars). ....................................................... 50
Table 27. NETRMA Historical Revenue Generation (in Millions of Dollars)............................. 57
Table 28. CTRMA Toll Facility Financial Structure. ................................................................... 60
Table 29. CTRMA Historical Revenue Generation (in Millions of Dollars). .............................. 60
Table 30. CTRMA Income Statement (in Millions of Dollars). ................................................... 61
Table 31. Daily VMT and Diverted VMT by Urban Area. .......................................................... 77
Table 32. Regional Mobility Impacts of Diverted Toll Road Traffic. .......................................... 77
Table 33.Toll Road Diversion Impacts by Functional Class. ....................................................... 78
7
Introduction
Since 1953, toll financing has played a role in funding Texas’ highway transportation network.
Historically, toll financing was pursued in instances where traditional public financing was
unavailable. In recent years, factors such as increasing population and declines in the growth of
traditional public transportation funding sources have placed renewed interest in toll financing
considerations. Although legislation has been in place to authorize the collection of tolls in Texas
since 1953, no thorough review or analysis has yet been pursued that comprehensively examines
the history, development, financial characteristics, and operational performance of toll facilities
in the state.
Today, four types of tolling authorities are allowable under state statute: regional toll authorities,
county toll authorities, regional mobility authorities (RMAs), and the Texas Department of
Transportation (TxDOT). Only one regional toll authority operates in Texas (i.e., the North
Texas Tollway Authority); however, seven county toll authorities and eight RMAs have been
created throughout the state. In addition, private entities are allowed to collect tolls in the state;
however, none of those public-private partnership facilities are profiled in this report.
Toll roads provide an alternative method of financing transportation construction and
operations costs. With the proliferation of toll roads in Texas over the past two decades and
plans to expand existing or build new tolled facilities across the state, this research documents
the history as well as the financial and operational performance of public Texas toll roads. It
further identifies how toll roads have impacted mobility.
Purpose of the Study
The purpose of this research is to provide the Texas Legislature and other elected officials
with a comprehensive summary of toll roads from a financial and operational perspective.
Findings from this research will aid in the determination of what future policies might be
needed, as well as potential funding opportunities for needed infrastructure investment
within Texas.
Study Scope
This project provides a historical assessment of toll roads in Texas, including a brief legislative
history of their development in this state, a brief review of the financial and operational
characters of each toll facility, and a comparison of these facilities with those in other states. The
major tolling authorities and toll roads in the state were examined, and profiles containing key
financial information were created. These include development and construction costs, financing
structure and obligations, revenue generation, operations, maintenance, and ongoing cash flows.
Using all of this information, researchers then developed a model to examine scenarios where
future toll revenues could be leveraged to finance other transportation improvements. This work
also included toll revenue leveraging strategies in Texas and other states.
8
Researchers then focused on the impact of toll roads on urban mobility. For the urban areas in
Texas where toll roads are located, the overall impacts the tolled facilities have had on the
region’s mobility were assessed. Much of this effort was on modeling these impacts, and it
focused on capturing how travel has changed due to the existence of a toll road. This was done
using mobility measures including traffic volumes, vehicle miles traveled (VMT), and indices of
congestion and delay.
Preview of Report Organization/Content
In addition to this introduction, this report consists of five additional elements. These are:
1.
2.
3.
4.
5.
Legislative background and history of toll roads in Texas.
Comparative summaries of toll revenues and average rates.
Basic profiles and financial performance of selected Texas toll roads.
Leveraging of toll revenues to finance other roadway improvements.
Mobility impacts of toll roads in Texas.
The legislature created the Texas Turnpike Authority in 1953 and abolished it in 1997. Since
1953, the following authorities have constructed, maintained, and operated toll facilities in
Texas:








North Texas Tollway Authority (NTTA).
Harris County Toll Road Authority (HCTRA).
TxDOT.
North East Texas Regional Mobility Authority (NET RMA).
Fort Bend County Toll Road Authority (FBCTRA).
Cameron County Regional Mobility Authority (CCRMA).
Central Texas Regional Mobility Authority (CTRMA).
Grand Parkway Transportation Corporation (GPTC).1
Table 1 provides an overview of 17 toll facilities comprising over 400 miles of highway
currently operational in Texas. The current statewide tolling revenue is $1.2 billion, a 10 percent
increase over 2012. The total debt service on existing toll roads (from NTTA, HCTRA, the
Central Texas Turnpike System [CTTS],2 and CTRMA) is an estimated annual average of
$968 million from 2015 to 2035. Taken as a percentage of all state-registered vehicles, both
personal and commercial, 30 percent of all vehicles have some form of toll tag. As a percentage
of personal vehicles, 40 percent have toll tags. In 2013, the last year for which complete data are
available, a total of 6.7 million toll tags were issued in the state.
1
The Grand Parkway Transportation Corporation is a non-profit Texas corporation created by the Texas
Transportation Commission, the governing body of TxDOT.
2
CTTS debt is issued by the Texas Transportation Commission, the governing body of TxDOT.
9
Table 1. Texas Tolled Facilities Reviewed for This Report.
Toll
Toll Road
Toll Facility
Authority/Regional Length (Center
Mobility Authority
Lane Miles)
Dallas North Tollway
31.0
President George Bush Turnpike
NTTA
52.0
Sam Rayburn Tollway (SH 121)
26.2
Hardy Toll Road
23.0
Sam Houston Tollway
HCTRA
70.0
Westpark Tollway**
19.0
Loop 1 North (Parmer Lane to SH 45 North)
4.0
SH 255 (Camino Columbia)
21.5
SH 45 North
TxDOT
12.8
SH 130 Segments 1–4
49.0
SH 45 Southeast
7.04
Loop 49
NET RMA
26.3
Fort Bend Parkway Toll Road**
FBCTRA
8.2
SH 550
CCRMA
14.9
183A
11.6
CTRMA
Manor Expressway (Phase 1 and 2)
6.2
SH 99 Segment E
GPTC
14.4
Date
Facility
Opened*
1968
1977
2006
1988
1988
2004
2006
2000
2006
2006
2009
2006
2004
2011
2007
2014
2013
* Facility opening date refers to the date the toll facility opened to traffic; however, it is customary for a toll road
to operate without tolls—free to users—for a few weeks to allow drivers to become accustomed to the facility
and where it can be entered and exited. It is also typical after this start-up period for the toll road to operate with
discounted tolls (e.g., 50 percent of the full toll rate) for another few weeks to, again, allow drivers to continue to
experience the roadway but to begin associating a cost to the experience before the full toll rates are
implemented.
** Jointly operated by HCTRA and FBCTRA.
Source: Tolled facility statistics compiled by TTI.
Most, but not all, tolled facilities in the state were examined as part of this study. Toll bridges,
managed lanes (e.g., I-10 Katy Managed Lanes), and toll tunnels (e.g., Addison Airport Toll
Tunnel) were not examined independently in this study; however, they are included in the future
revenue forecasts provided by the agencies (with the exception of Loop 1 [MoPac] Managed
Lanes). Also, SH 99 Segment I-2A, operated by TxDOT, and public-private toll facilities (e.g.,
SH 130 Segments 5 and 6) were not profiled. These facilities operate and/or serve slightly
different purposes from the traditional toll. Table 2 summarizes facilities that were not included
in this study.
Profile information for the 17 toll roads listed in Table 1 was compiled and is incorporated in the
report.
10
Table 2. Public Toll Facilities Not Reviewed in This Report.
Toll Road
Authority
Katy Freeway Managed Lanes
Loop 1 (MoPac) Managed Lanes
North DFW Airport Connector
SH 99 Segment I-2A
Lake Lewisville Toll Bridge
Mountain Creek Toll Bridge
Addison Airport Toll Tunnel
HCTRA
CTRMA
TxDOT
NTTA
Description
Managed Lanes
Managed Lanes
Managed Lanes
Tolled Lanes
Toll Bridge
Toll Bridge
Toll Tunnel
Data Used
The researchers primarily used historical financial statements, as well as traffic and revenue
studies and updates from each entity, to gather the pertinent information. Other research and
resources, such as Federal Highway Administration databases, were used for reference
throughout the report. Through the compilation of these documents, the researchers were able to
identify the project and revenue information needed for analysis.
Review of Financial Documents
Each agency responsible for the development and operations of toll roads reports its fiscal
position with annual financial statements (e.g., balance sheet, statement of revenues and
expenses, and cash flow statement). The researchers obtained financial statements from the
larger tolling agencies (CTTS, NTTA, HCTRA, and CTRMA), which were published on the
websites of each organization. Financial information was also provided by GPTC, NET RMA,
and FBCTRA. The review of the audited financial statements consisted primarily of the
examination and summarization of the annual operating and non-operating revenues and
expenses for each toll enterprise. There was no attempt to perform an independent audit of the
financial statements or to assess the financial position of a tolling agency in terms of solvency,
the maintaining of adequate reserves, or the future ability to meet the terms of its debt
obligations.
11
Texas Legislation and Tolling
Despite a perception by some that the development of toll roads is a recent trend in Texas,
legislation authorizing toll roads in Texas dates back a half century. In 1953, during the 53rd
Legislative Session, the Texas Legislature authorized the creation of the Texas Turnpike
Authority. The passage of House Bill (HB) 4 authorized this authority to pursue toll road and
bridge projects throughout the state; however, most of the Texas Turnpike Authority’s efforts
were concentrated primarily in the Dallas-Fort Worth region. Members of the State Highway
Commission (the predecessor to the Texas Transportation Commission), together with six
persons appointed by the governor, served as directors of that authority.
Senate Bill (SB) 370, enacted into law during the 75th Legislative Session in 1997, abolished the
Texas Turnpike Authority and created a turnpike division within TxDOT to develop toll roads in
the state. This legislation also created NTTA and required the transfer of all Dallas-Fort Worth
region toll assets from the Texas Turnpike Authority over to NTTA (1). During subsequent
sessions, the legislature enacted new laws that addressed concerns regarding primacy3 and
private participation in toll road financing.
77th Legislative Session
During the 77th Texas Legislative Session, two bills of note were enacted into law. The purpose
of SB 342, among other things, was to remove the requirement for repayment from public
entities and to authorize TxDOT to expend funds for the cost of toll projects of public and
private facilities (2). SB 454 authorized the implementation of an automated enforcement system
at toll facilities and established criminal penalties for failure to pay a required toll or
administrative fee (2). Table 3 provides a brief summary of key toll road legislation enacted
during the 77th Legislative Session.
Bill
SB 342
SB 454
Table 3. 77th Legislative Session Key Toll Road Legislation (2001).
Dates
Author
Caption
Passed/Effective
Relating to the participation of TxDOT in
Shapiro/
the acquisition, construction,
June 2001/June 2001
Alexander
maintenance, and operation of toll
facilities and RMAs
Armbrister/
Alexander
Relating to the collection and
enforcement of tolls on certain toll
roads and toll projects; providing for
civil and criminal penalties
June 2001/
Sept. 2001
Source: State legislative data compiled by TTI from http://www.statutes.legis.state.tx.us/.
3
Primacy in this context refers to when an authority has the first right of refusal in pursuing the development of a
tolled facility.
12
During the 78th Legislative Session, several bills related to toll road infrastructure were enacted
into law. SB 903 required the Texas Transportation Commission and the governing body of each
local government entity or private entity that operates a toll project to adopt rules to allow a
military vehicle to use toll projects without payment of a toll or fare (3). HB 2384 amended the
Transportation Code to expand the applicability of certain provisions relating to unauthorized use
of toll roads to a county adjacent to a county with a population of more than 3.3 million (in other
words, allowed counties adjacent to Harris County the same administrative enforcement
capabilities that Harris County had). HB 3184, among other actions, amended provisions of the
Transportation Code to revise the authority of the Texas Transportation Commission and TxDOT
over the financing, construction, improvement, maintenance, and operation of turnpike projects
and to specify that the Texas Turnpike Division is responsible for promoting and coordinating
the development of turnpike projects (4). HB 3588 altered the direction for how transportation
would be funded in Texas by integrating existing transportation policies with new financing
mechanisms designed to accelerate project delivery and generate additional cash flow, including
comprehensive development agreements. Specifically, this legislation allowed private entities to
design, build, operate, and finance toll roads and revenue-producing rail systems, adding a new
dimension to the way transportation projects have previously been handled in Texas.
Notably, Article 2 of HB 3588 authorizes the Texas Transportation Commission to create RMAs
that localities can use to approve and generate revenue from regional transportation projects,
which in turn can be used to support future infrastructure investments (5). Article 5 of HB 3588
authorized the Texas Transportation Commission to issue state-owned bonds to fund other state
highway improvements. In addition, the legislation imposed regulatory fees on driver licenses,
increased court costs, increased motor vehicle sales taxes, and required project feasibility studies
to be completed on all potential transportation projects (5).
SB 716 amended Chapter 284 of the Transportation Code to allow eligible counties to construct,
operate, and maintain a toll road project that is located exclusively in adjacent counties, provided
that the action has been approved by the adjacent county’s commissioners court (6). SB 1463,
among other actions, amended the Transportation Code to authorize the Texas Transportation
Commission, under certain conditions and after a public hearing, to convey a non-toll state
highway or a segment of a non-toll state highway to a county or a toll road authority in the
county in which the state highway or segment is located. This legislation also authorizes the
Texas Transportation Commission to convey a non-toll state highway or a segment of a non-toll
state highway to a county or toll road authority in a county adjacent to the county in which the
highway or segment is located if the county or toll road authority in the county in which the
segment or highway is located approves the transfer. Finally, SB 1464, among other actions,
authorized HCTRA and the Harris County Commissioners Court to impose an administrative
cost for the collection of unpaid tolls (7). Table 4 provides a brief summary of key toll road
legislation enacted during the 78th Legislative Session.
13
Bill
SB 903
HB 2384
HB 3184
HB 3588
SB 716
SB 1463
SB 1464
Dates
Author
Caption
Passed/Effective
May 2003/
Relating to the use of toll projects by
Lindsay/Hamric
Sept. 2003
military vehicles; creating an offense
June 2003/Effective Relating to the unauthorized use of toll
Hegar/Janek
Immediately
roads in certain counties
Relating to the financing, construction,
June 2003/Effective improvement, maintenance, and
Hill/Barrientos
Immediately
operation of transportation and
transportation facilities
Relating to the construction, acquisition,
financing, maintenance, management,
operation, ownership, and control of
Krusee et al.
June 2003/Varies*
transportation facilities and the
progress, improvement, policing, and
safety of transportation in the state
Relating to causeways, bridges, tunnels,
June 2003/Effective turnpikes, and highways in certain
Lindsay/Eiland
Immediately
counties bordering the Gulf of Mexico
and in adjacent counties
June 2003/Effective Relating to the conversion of a non-toll
Lindsay/Hamric
Immediately
state highway to a toll facility
Relating to enforcement of the
June 2003/
Lindsay/Hamric
collection of certain tolls; providing a
Sept. 2003
penalty
* HB 3588 took effect September 1, 2003 (except for articles 1, 2, 4, 6, 15, and 18, which took effect immediately);
Article 8 took effect June 1, 2005; Article 9 took effect September 1, 2005; Article 5 took effect after voters
approved HJR 28 (Proposition 14) in 2003.
During the 79th Legislative Session, one notable Senate bill enacted into law was SB 129, which
amended the Transportation Code to authorize TxDOT or an RMA to waive or reduce tolls on
state or regional turnpike projects for any vehicle or class of vehicles (8). Several notable House
bills were also enacted into law during the 79th Legislative Session. HB 1672, among other
provisions, amended the Transportation Code to provide that in a county with a population of
3.3 million or more, the money collected as court costs in connection with the unauthorized use
of toll roads is required to be deposited in the county treasury in a special fund to be
administered by the county or district attorney. HB 2139, among other provisions, established
various requirements between TxDOT and private entities. Specifically, this legislation expanded
provisions related to legislation authorizing the payment of pass-through tolls as reimbursement
14
for construction, maintenance, and operation activities for toll or non-tolled facilities on the state
highway system (9). HB 2650 amended the Transportation Code to authorize a local government
to enter into an agreement with TxDOT, an RMA, or a private entity under which the local
government assists in the financing of the construction, maintenance, and operation of a turnpike
project located in the local government’s jurisdiction in return for a percentage of the revenue
from the project (10). Finally, HB 2702, an omnibus bill, addressed several issues related to how
best to finance and deliver transportation projects (11). Table 5 provides a brief summary of key
toll road legislation enacted during the 79th Legislative Session.
Bill
SB 129
HB 1672
HB 2139
HB 2650
HB 2702
Dates
Author
Caption
Passed/Effective
Relating to certain exceptions to the
May 2005/
Barrientos/
requirement that the operator of a motor
Effective
Dukes
vehicle operated on a turnpike project pay
Immediately
the proper, full amount of the toll
June 2005/
Relating to costs imposed in connection with
Howard/
Effective
the collection and enforcement of certain
Janek
Immediately
tolls
June 2005/
Phillips/
Relating to certain agreements by TxDOT
Effective
Wentworth
involving pass-through tolls
Immediately
Krusee/
June 2005/
Relating to local government participation in
Brimer
Sept. 2005
the financing of turnpike projects
Relating to the construction, acquisition,
financing, maintenance, management,
June 2005/
operation, ownership, and control of
Krusee/
Effective
transportation facilities and the progress,
Staples
Immediately
improvement, policing, and safety of
transportation in this state; providing a
penalty
During the 80th Legislative Session, SB 792 imposed a moratorium on comprehensive
development agreements (CDAs), with some exceptions, and implemented a range of changes to
CDA law. HB 570 amended the Transportation Code to prohibit an entity authorized by law to
acquire, design, construct, finance, operate, and maintain a toll project from using motor vehicle
registration or license plate information, including information obtained by the use of automated
enforcement technology, for purposes other than toll collection, collection enforcement, and
certain law enforcement purposes. This bill further provided that if the entity enters into an
agreement with an entity in another state that involves the exchange of this information, the
15
agreement must provide that the information may not be used for purposes other than those
described in the provisions of this bill (12). Table 6 provides a brief summary of key toll road
legislation enacted into law during the 80th Legislative Session.
Bill
SB 792
HB 570
Dates
Author
Caption
Passed/Effective
Relating to the authority of certain counties
Williams/
and other entities with respect to certain
May 2007/
Smith,
transportation projects and to CDAs with
June 11, 2007
Wayne
regard to such projects; authorizing the
issuance of bonds; providing penalties
May 2007/
Relating to the use of motor vehicle
Leibowitz/
Effective
registration or license plate information
Carona
Immediately
collected by a toll project entity
81st Legislative Session
During the 81st Legislative Session, several House bills were enacted into law. HB 2983 made
several changes to how motor vehicle rental information is transmitted in relation to the payment
of tolls. HB 3097 amended the Transportation Code, Business and Commerce Code, Code of
Criminal Procedure, Family Code, Finance Code, Government Code, Health and Safety Code,
Human Resources Code, Local Government Code, Occupations Code, Penal Code, and Tax
Code to create the Texas Department of Motor Vehicles (TxDMV) and subject it to the Texas
Sunset Act. Finally, HB 3139 amended the Transportation Code to authorize a toll project entity
to establish a discount program for electronic toll collection customers (13). Table 7 provides a
brief summary of key toll road legislation enacted into law during the 81st Legislative Session.
16
Bill
HB 2983
HB 3097
HB 3139
Table 7. 81st Legislative Session Key Toll Road Legislation (2009).
Dates
Author
Caption
Passed/Effective
Relating to the electronic transmission of
June 2006/
Phillips/Hegar
motor vehicle rental information in
Sept. 2009
connection with the payment of tolls
Relating to the creation, organization,
governance, duties, and functions of TxDMV,
including the transfer of certain duties to
McClendon
June 2006/
TxDMV and the Texas Department of
et al./Carona Sept. 2009
Licensing and Regulation, and to the
regulation of certain franchised motor
vehicle dealers; providing a penalty
Herrero
June 2006/
Relating to discount programs for certain
et al./Van de
Sept. 2009
veterans provided by toll project entities
Putte
82nd Legislative Session
During the 82nd Legislative Session, several House bills were enacted into law. HB 1112,
among other actions, expanded the powers of RMAs. Specifically, this legislation authorized
RMAs to:



Participate in the state travel management program.
Borrow money from or enter into a loan agreement or other arrangement with any public
or private entity.
Pledge available funds to the payment of any obligations of the authority under an
authorized contract.
HB 1201 amended the Transportation Code to repeal the authority for the establishment and
operation of the Trans-Texas Corridor and amended that code and the Tax Code to remove
statutory references to the corridor (14). HB 1274 amended the Transportation Code to define
military vehicle for purposes of the exemption from the payment of a toll for an unmarked
military vehicle conducting or training for emergency operations (15).
Several Senate bills were also enacted into law during the 82nd Legislative Session. SB 19 added
a chapter to the Transportation Code to address the development of toll projects (other than
certain excluded projects) located in the territory of a local toll project entity (16). SB 246
amended Transportation Code provisions relating to toll collection services that a regional
tollway authority must provide for a toll project located in the boundaries of the authority (17).
SB 959 authorizes alternative tolling methods. SB 469 amended the Transportation Code to
require a regional tollway authority to use alternative tolling methods to permit the registered
owner of a vehicle that is driven or towed through a toll assessment facility to pay the toll at a
17
later date and establishes procedures to allow the authority to collect the toll within a certain time
frame (18). Finally, SB 1420, also known as the TxDOT Sunset Bill, included a provision
authorizing TxDOT and local tolling authorities to enter into public-private partnerships for
specific projects only (19). Table 8 provides a brief summary of key legislation enacted into law
during the 82nd Legislative Session.
Bill
HB 1112
HB 1201
HB 1274
SB 19
SB 246
SB 469
SB 959
SB 1420
Table 8. 82nd Legislative Session Key Toll Road Legislation (2011).
Author
Dates Passed/Effective
Caption
Phillips/
May 2011/According to Relating to the authority and powers of
Nichols
Its Terms
RMAs
Relating to repeal of authority for the
Kolkhorst
June 2011/Effective
establishment and operation of the
et al./Hegar
Immediately
Trans-Texas Corridor
Relating to an exemption from the
Pena/
June 2011/Effective
payment of a toll for unmarked military
Wentworth
Immediately
vehicles conducting or training for
emergency operations
Relating to the development, financing,
Nichols/
June 2011/Effective
construction, and operation of certain
Smith, Wayne Immediately
toll projects
Shapiro/
June 2011/Effective
Relating to toll collection services
Harper-Brown Immediately
provided by a regional tollway authority
Nelson et al./
Relating to the collection of unpaid tolls
June 2011/Sept. 2011
Patrick
by a regional tollway authority
Wentworth/
May 2011/Effective
Relating to toll collection and
Pickett
Immediately
enforcement
Nichols et al./
May 2011/According to Relating to the continuation and
Harper-Brown
Its Terms
functions of TxDOT; providing penalties
et al.
83rd Legislative Session
During the 83rd Legislative Session, several House bills were enacted into law. HB 341 amended
the Transportation Code to require a regional tollway authority, in a statement or petition in
condemnation of real property, to exclude from the interest to be condemned all the oil, gas, and
sulphur that can be removed from beneath the real property (20). HB 1123 amended the
Transportation Code to make additional recipients of military license plates for extraordinary
service eligible for free or discounted use of a toll project (21). HB 2585 amended the
Transportation Code to make permanent the requirement that TxDOT and an applicable utility
share equally the cost of the relocation of a utility facility that is required by the improvement,
construction, or expansion of certain toll projects (22).
18
Several Senate bills were also enacted during the 83rd Legislative Session. SB 1029 made
several changes to state law regarding exceptions to how TxDOT can operate certain highway
projects (23). SB 1792 amended the Transportation Code and Government Code to establish
optional remedies for the nonpayment of tolls and administrative fees assessed by a toll project
entity. Table 9 provides a brief summary of key toll road legislation enacted into law during the
83rd Legislative Session.
Bill
HB 341
HB 1123
HB 2585
SB 1029
SB 1489
SB 1730
SB 1792
Table 9. 83rd Legislative Session Key Toll Road Legislation (2013).
Dates
Author
Caption
Passed/Effective
Relating to the exclusion of certain mineral
Pitts/
June 2013/Effective
interests (oil, gas, and sulphur) from the
Nichols
Immediately
property interests that may be condemned
by a regional tollway authority
Herrero/
June 2013/
Relating to discount programs for certain
Rodriguez Sept. 2013
veterans provided by toll project entities
Relating to the reimbursement of utilities for
HarperJune 2013/Effective
relocation of utility facilities following
Brown et
Immediately
improvement or construction of certain
al./Paxton
tolled highways
Campbell
Relating to the conversion of a non-tolled
June 2013/Effective
et al./
state highway or segment of the state
Immediately
Phillips
highway system to a toll project
Watson/
May 2013/Effective
Relating to the powers and jurisdiction of an
Phillips
Immediately
RMA
Nichols/
June 2013/
Relating to CDAs of TxDOT or an RMA
Phillips
Sept. 2013
Relating to remedies for nonpayment of tolls
Watson et June 2013/Effective
for the use of toll projects authorizing a fee;
al./Phillips Immediately
creating an offense
19
Comparative Summary of Toll Revenue by Toll Facility
Two fundamental measures are used to determine the operational performance of a toll road: the
number of transactions and the amount of toll revenue generated for a given period. A
transaction occurs each time a vehicle passes a toll collection point. A vehicle traveling
southbound on SH 130, beginning in Georgetown, to the SH 45 Southeast interchange would
pass through four mainline toll plazas, generating four individual transactions in a single trip;
therefore, transactions and traffic volumes are not the same. Toll revenue is generally reported in
aggregate, for example, monthly or annual toll revenue. Some agencies calculate the average
revenue per transaction for internal information, but such a measure is highly toll road specific
and cannot be compared across multiple facilities with any statistical validity.
Limitations of the Comparisons
When reviewing toll road operational data, it is not possible to directly link the revenue totals
with the transaction data on a toll road because of the way transactions and revenues are
reported. Transactions are recorded in the period (e.g., day and month) in which they occur.
Revenue, however, is recorded differently based on the payment type. Specifically, transactions
using a transponder (e.g., TxTag™) are reported in the period in which they are earned, while
transactions incurred through video capture of the license plate (e.g., pay-by-mail or violations)
have their revenues recorded in the period in which they were received.
Also, when comparing toll transactions and revenues, it is important to understand that each
tolled facility was built for a specific reason and is highly influenced by its location, connection
to the greater regional transportation infrastructures, demographics, and several other factors. For
example, one toll road could have been constructed primarily to connect two underserved
communities, while another could have been built primarily to serve as an alternative route to
another highly congested, non-tolled road. In addition, the positive impact of a toll facility to an
area’s regional mobility and economy could be far greater than the nominal revenue generated
from the tolls alone. Therefore, the study authors determined that only a descriptive comparison
of total revenue and growth based on data provided by Texas toll authorities was appropriate for
this task.
Toll Revenue Data by Facility
With this in mind, Table 10 presents total toll revenue data by Texas toll facility from fiscal year
(FY) 2007 to FY 2013. In some cases, data were not readily available from public sources or not
received from the specific tolling agency.
20
Table 10. Summary of Annual Toll Revenues for Texas Toll Roads.
Facility
SH 45 North
SH 45 Southeast
Loop 1 (Parmer Lane to SH 45
North)
President George Bush
Turnpike
Hardy Toll Road
Sam Houston Tollway
Westpark Tollway
Fort Bend Parkway
183A (Manor Expy. Phase 1)
Loop 49
Total Revenue ($ Million)
FY
FY
FY
FY
2008
2009
2010
2011
N/A
$0.2
$0.6
$1.3
$17.9
$19.9
$19.8
$20.3
N/A
$0.5
$3.2
$3.6
$19.5
$27.1
$34.4
$36.2
FY
2012
$1.4
$21.9
$4.1
$40.7
FY
2013
$1.1
$29.1
$4.3
$54.5
$6.1
$11.4
$11.9
$11.9
$12.3
$13.0
$16.1
$102.6
$122.9
$137.5
$165.7
$179.2
$195.8
$205.1
$103.3
$112.8
$118.7
$142.8
$155.1
$202.9
$223.9
N/A
$33.1
$287.5
$33.3
N/A
N/A
$0.1
$12.7
$40.7
$321.3
$41.9
N/A
$15.3
$0.4
$51.6
$42.5
$330.7
$42.2
$1.6
$17.3
$0.6
$78.9
$44.1
$345.9
$39.9
$1.4
$20.2
$0.6
$96.2
$45.1
$356.2
$41.4
$1.5
$21.5
$0.7
$110.4
$45.9
$381.1
$42.8
$1.6
$23.6
$0.7
$123.4
$49.3
$406.7
$46.8
$1.7
$32.1
$0.7
FY
2007
N/A
$4.6
N/A
$5.6
It is logical to assume that the toll roads with the greatest amount of traffic have the highest
levels of toll revenues, and in general, that is true. Table 10 shows that the Sam Houston Tollway
received the highest yearly total toll revenue at $406.7 million in FY 2013 and carried some of
the highest traffic volumes. This is followed by the President George Bush Turnpike
($223.9 million), the Dallas North Tollway ($205.1 million), and the Sam Rayburn Tollway
($123.4 million), which also carry significant traffic.
Comparing Changes in Toll Revenues over Time
Again, merely comparing the annual toll revenues of one facility to another provides little
meaning other than to put perspective on the order of magnitude in total revenues. It is more
informative to observe the change in revenue for a single toll road over time. Table 11 presents
the year-over-year percent change in toll revenues.
21
Table 11. Annual Percent Change in Toll Revenue for Texas Toll Roads.
Percent Change in Toll Revenue
Facility
FY
FY
FY
FY
FY
2008
2009
2010
2011
2012
117%
8%
SH 45 North
11%
-1%
3%
8%
SH 45 Southeast
13%
14%
39%
27%
5%
12%
Loop 1 (Parmer Lane to SH 45
4%
0%
3%
6%
North)
20%
12%
21%
8%
9%
9%
5%
20%
9%
31%
53%
22%
15%
Hardy Toll Road
23%
4%
4%
2%
2%
Sam Houston Tollway
12%
3%
5%
3%
7%
Westpark Tollway
26%
1%
−5%
4%
3%
Fort Bend Parkway
−10%
4%
8%
183A (Manor Expy. Phase 1)
13%
17%
6%
10%
Loop 49
69%
6%
5%
5%
FY
2013
−21%
33%
5%
34%
24%
5%
10%
12%
7%
7%
9%
5%
36%
7%
Note: Years with partial data are not included in this table.
Table 11 shows that there are usually large percent increases in toll revenues when comparing
the first full year of operations to the second year. This is attributed to the ramp-up that occurs
after the opening of a new toll facility as drivers become aware of and accustomed to the new toll
road. This ramp-up period is expected and is accounted for within the feasibility and investmentgrade traffic and revenue forecasts. It is more telling to view the revenue growth rate after a few
years of stable operations.
The year-over-year increase in revenues cannot be solely attributed to gradual and predictable
increases in traffic. For example, the 183A toll road in Austin saw a notable increase in toll
revenue in FY 2013 that can be largely attributed to the fact that an extension of the toll road
opened during that year. This extension made the toll road attractive to more users, but it also
introduced additional tolling points, where additional tolls are generated, for the existing users
that are now traveling farther along the toll road. As another example, SH 130 Segments 1–4
noticed a marked increase in the toll revenues generated during FY 2013. This specific case of
markedly higher toll revenues is attributed to the opening of SH 130 Segments 5 and 6 (not part
of CTTS) for a completed bypass of the I-35 corridor through Austin and San Marcos, and to the
introduction of a substantial toll rate increase beginning January 1, 2013.
Figure 1 illustrates the growth in the number of registered passenger vehicles and motorcycles in
Texas, and the increasing numbers of electronic toll tags being issued by tolling entities.
22
Figure 1. Number of Registered Passenger Vehicles and Motorcycles and Toll Tags Issued
in Texas.
Toll Rates and Toll Revenues
Toll revenues tend to increase merely with the introduction of higher toll rates, even if traffic
declines slightly, because the initial higher toll rate might discourage some users. Numerous
examples and studies show that increasing toll rates actually increases toll revenues. For toll
roads in Texas and across the nation, analyses show that toll rates have elasticities of
approximately −0.35. For example, assume that 1,000 users pay $1 each for their toll on a toll
road. The resulting revenue would be $1,000 (1,000 × $1). The toll rate is then raised to $2 (a
100 percent increase in the toll), and the elasticity calculation predicts the volume of users would
decrease by 35 percent. Revenue, however, would actually increase to $1,300 (650 × $2). This
same type of result can also be seen in mass transit systems when bus, train, and subway fares
increase (24).
So what happens to those toll road users who stop using the facility due to the higher toll rates?
Although not as extensively studied, there is evidence that traffic volumes on the tolled facility
do recover to a large extent after a period of time. Some of the traffic recovery is due to the
annual traffic growth that occurs naturally for roadways. Another significant reason for the
23
traffic rebound is the fact that once people leave the tolled facility, they discover that the next
best alternative—either using a non-tolled route or changing transportation modes (e.g., bus
transit)—is not as desirable to them. They value the benefits of the toll road more than the cost of
the increased toll rate, and they eventually return to the tolled facility. Depending on the choice
of alternative routes and travel modes, a driver’s decision to go back to the toll road may occur
sooner rather than later. The frequency of toll rate increases and the amount of each increase do
impact the driver’s decision-making process.
Vehicle Mix and Toll Revenues
During the feasibility and planning phase for a toll road, core assumptions are made about the
number and percentage of various types of vehicles, as well as the toll rate each vehicle type will
incur, in order to forecast future toll revenues. Vehicle types are commonly defined by the
number of axles per vehicle or by their general shape. The toll rate charged to each vehicle type
is frequently based on a multiplier applied to a base vehicle type (e.g., a standard passenger car).
A typical toll multiplier would be as follows for these vehicle classifications:





1.00 for two-axle vehicles.
2.00 for three-axle vehicles.
3.00 for four-axle vehicles.
4.00 for five-axle vehicles.
5.00 for six-axle vehicles.
An example may be the most direct method of explaining how the vehicle mix and toll
multipliers affect revenues. As mentioned previously, several calculated assumptions are made to
estimate future annual traffic volumes and revenues of a toll road. Assume that five years after a
toll road opens, the traffic is anticipated to be 1,000,000 transactions per month, and for
simplicity, it is assumed 90 percent of the transactions are generated by passenger cars and
10 percent are generated by five-axle trucks. If the toll rate is $1 per transaction for a passenger
car, then the forecasted revenue would be as follows using the example multiplier:
(1,000,000 × 90% × $1) + (1,000,000 × 10% × $1 × 4.00) = $1,300,000
In five years when it is possible to observe actual toll road activity, the estimation of usage may
reveal that 1,000,000 transactions per month was a rather accurate forecast. However, the toll
revenues generated did not match expectations because the assumptions about vehicle mix were
not accurate. Even a small change in the actual vehicle types using the toll road can have a
significant impact on revenues, as illustrated in Table 12.
24
Table 12. An Example of the Impact of Vehicle Mix on Toll Revenues.
Percent of Two- Percent of FiveToll
Toll
Total
Monthly
Axle Vehicles
Axle Vehicles
Revenue
Revenue
Monthly
Transactions
(Passenger
(Commercial
Generated Generated
Toll
Cars)
Trucks)
by Cars
by Trucks
Revenue
1,000,000
85%
15%
$850,000
$600,000 $1,450,000
1,000,000
90%
10%
$900,000
$400,000 $1,300,000
1,000,000
95%
5%
$950,000
$200,000 $1,150,000
As shown in Table 12, although the usage of the toll road remained the same within the three
scenarios (i.e., 1,000,000 transactions per month), the toll revenue generated can fluctuate rather
significantly (±11.5 percent) in response to a rather small change in the vehicle mix (±5 percent).
Comparative Summary of Average Toll Rate per Mile
In an effort to better understand toll road performance from one facility to the next, it is desirable
to find a measure to compare toll roads with one another. As seen from Table 13, the toll roads in
Texas have a toll rate that ranges from $0.53 per mile to $0.08 per mile for a passenger vehicle.
Table 13 compiles the toll rates per mile for toll roads in Texas. The average cost per mile is
based on the toll rate for transactions conducted with an electronic tag and are presented for a
typical two-axle passenger vehicle and the traditional five-axle (i.e., tractor -trailer) truck. The
data are from toll facilities in operation as of January 1, 2013, and the toll rates in effect at that
time. Note that in some cases, a single toll road is divided up into segments in order to report the
variations in the cost per mile along its length.
As seen from Table 13, the toll roads in Texas have a toll rate that ranges from $0.53 per mile to
$0.08 per mile for a passenger vehicle.
25
Table 13. Average Toll Rate per Mile by Toll Tag in Texas.
Average
Passenger
Length
Name of Facility
Vehicle Cost
in Miles
per Vehicle
Mile
Hardy Airport Connector (Harris County)
1.7
$0.53
Manor Expressway—Phase 1*
1.2
$0.39
Fort Bend Parkway Extension***
8.3
$0.31
Loop 1 (Parmer Lane to SH 45 North)
3.5
$0.26
Manor Expressway—Phase 2*
5
$0.26
US 183A
11.6
$0.25
Westpark Tollway—Fort Bend County
6
$0.20
SH 99 (Grand Parkway) Segment I-2A
6.6
$0.18
Sam Houston Tollway East
7.3
$0.17
SH 550
1
$0.17
Chisholm Trail Parkway*
28.6
$0.16**
SH 45 North
12.8
$0.16
30.1
$0.16
29.7
$0.16
President George Bush Turnpike—Western
11.8
$0.16
Extension
President George Bush Turnpike—Eastern Extension
9.9
$0.16
Sam Rayburn Tollway
26.2
$0.16
Loop 49
5.1
$0.15
Sam Houston Tollway West
25.7
$0.15
SH 45 Southeast
7.0
$0.15
49.0
$0.14
Sam Houston Tollway—SE Belt
9.7
$0.13
Hardy Toll Road
21.1
$0.12
Sam Houston Tollway—SW Belt
10.9
$0.10
SH 255 (Camino Colombia)
22.5
$0.09
Westpark Tollway
13.2
$0.08
Sam Houston Tollway NE
13
$0.08
*
Average
Truck Cost
per Vehicle
Mile
$2.60
$1.18
$1.27
$0.78
$0.77
$0.74
$0.80
$0.53
$0.72
$0.50
$0.48**
$0.48
$0.45
$0.45
$0.45
$0.45
$0.45
$0.45
$0.63
$0.45
$0.42
$0.54
$0.50
$0.46
$0.36
$0.37
$0.38
These toll roads were not open to traffic until May 2014, and therefore sufficient revenue data were not
available at the time of reporting (25); however, they were included in the table to show how their toll cost
per mile rate will compare.
**
For the most northern section of the Chisholm Trail Parkway, local residents elected to pay on additional
$0.04 per mile to pay for additional landscaping and other enhancements they wanted incorporated into the
project.
*** Fort Bend Parkway Extension consists of 6.2 miles in Harris County and 2.1 miles in Fort Bend County. The
cost per mile represents a weighted average of reported rates.
Note: Updated average passenger vehicle cost per vehicle mile for NTTA facilities was provided by NTTA.
26
Comparing Texas Toll Facilities to the Nation
To see how Texas non-interstate toll roads compare in context with other tolled facilities across
the United States, Table 14 summarizes average toll rates per mile for toll roads in Texas and the
nation. The average cost per mile is based on the toll rate for an electronic tag. Toll rates for
video tolling—pay-by-mail—are typically 25 to 50 percent higher.
Table 14. Comparison of Toll Rates for Non-interstate Toll Roads in the United States (26).
Average
Average
Passenger
Length
Truck Cost
State
Name of Facility
Vehicle Cost
in Miles
per Vehicle
per Vehicle
Mile
Mile
Prospect Mountain Veterans Memorial
New York
5.9
$0.67
N/A*
Highway
Texas
Fort Bend Parkway Extension
2.1
$0.63
$2.69
Texas
Hardy Airport Connector
1.7
$0.53
$2.60
Puerto
Rafael Martínez Nadal Expressway
1.6
$0.47
$0.34
Rico
(PR 20)
San Joaquin Hills Trans Corridor
California
15
$0.40
$1.80
(Route 73)
Colorado Pikes Peak Toll Road
19
$0.39
$0.39
Texas
Manor Expressway—Phase 1
1.2
$0.39
$1.18
Colorado Northwest Parkway
11
$0.29
$1.23
California Route 91 Express Lanes
10
$0.28
$0.00
Florida
Miami Airport Expressway
4.1
$0.26
$1.08
Texas
Loop 1 North (Parmer Lane to SH 45N)
3.5
$0.26
$0.78
Texas
Manor Expressway—Phase 2
5
$0.26
$0.77
California Foothill Trans. Corridor (Route 241)
28
$0.25
$1.00
Puerto
Expreso Rio Hondo (PR 5)
2.1
$0.25
$0.99
Rico
Texas
US 183A
11.6
$0.25
$0.74
Colorado E-470
47
$0.24
$1.35
John Land—Apopka Expressway
Florida
5
$0.23
$0.44
(SR 414)
Homestead Extension of Florida
Florida
47.9
$0.20
$0.20
Turnpike
South
Cross Island Parkway (US 278)
7.5
$0.20
$0.67
Carolina
Texas
Westpark Tollway—Fort Bend County
6
$0.20
$0.80
Fort Bend Parkway Extension—Fort
Texas
6.2
$0.20
$0.80
Bend County
Florida
Holland East-West Expressway
22.4
$0.19
$0.37
27
State
Florida
Alabama
Texas
Florida
Texas
Texas
Texas
Texas
Texas
Texas
Texas
Texas
Texas
Texas
Texas
Texas
Florida
Texas
Texas
Florida
Florida
Texas
Florida
Florida
Texas
Florida
New
Jersey
Texas
Florida
Florida
Oklahoma
Texas
Florida
Florida
Length
in Miles
Name of Facility
Goldenrod Road Extension
Foley Beach Express
SH 99 (Grand Parkway) Segment I-2
Daniel Webster—Western Beltway
Part C
Sam Houston Tollway East
SH 550
Chisholm Trail Parkway
SH 45 North
Sam Houston Tollway West
President George Bush Turnpike—
Western Extension
President George Bush Turnpike—
Eastern Extension
Loop 49
SH 130 Segments 5 and 6
Central Florida Greenway (SR 417)
SH 45 Southeast
Beachline Expressway
Polk Parkway (SR 570)
Sam Houston Tollway—SE Belt
Veterans Expressway (SR 589)
Seminole Expressway
Hardy Toll Road
Southern Connector Extension
2.7
8.5
6.6
Average
Passenger
Vehicle Cost
per Vehicle
Mile
$0.19
$0.18
$0.18
Average
Truck Cost
per Vehicle
Mile
$0.19
$3.50
$0.53
22
$0.17
$0.13
7.3
1
28.6
12.8
30.1
25.7
29.7
$0.17
$0.17
$0.16
$0.16
$0.15
$0.15
$0.15
$0.72
$0.50
$0.48
$0.48
$0.45
$0.63
$0.45
11.8
$0.15
$0.45
9.9
$0.15
$0.45
5.1
25.5
33.4
10
49
22.5
24.4
9.7
12.2
17.5
21.1
5.1
$0.15
$0.15
$0.15
$0.14
$0.14
$0.14
$0.13
$0.13
$0.13
$0.12
$0.12
$0.12
$0.10
$0.45
$0.45
$0.45
$0.27
$0.53
$0.42
$0.19
$0.42
$0.54
$0.35
$0.36
$0.50
$0.32
New Jersey Turnpike (Mainline)
37.7
$0.10
$0.52
Sam Houston Tollway—SW Belt
Sawgrass Expressway (SR 869)
Lee Roy Selmon Crosstown Expressway
John Kilpatrick Turnpike
SH 255 (Camino Colombia)
Gratigny Parkway
Snapper Creek Expressway
10.9
21.7
14.2
25.3
22.5
5.4
3
$0.10
$0.09
$0.09
$0.09
$0.09
$0.08
$0.08
$0.46
$0.27
$0.24
$0.38
$0.36
$0.24
$0.11
28
State
Florida
Oklahoma
Oklahoma
Texas
Texas
Florida
Florida
Florida
Oklahoma
Florida
New
Jersey
Suncoast Parkway (SR 589)
Creek Turnpike
Cherokee Turnpike
Westpark Tollway
Sam Houston Tollway NE
Beachline West
Osceola Parkway
Florida Turnpike—Mainline
Muskogee Turnpike
East-West (Dolphin) Expressway
41.4
34.4
32.8
13.2
13
8.4
12.4
266
53.1
14
Average
Passenger
Vehicle Cost
per Vehicle
Mile
$0.08
$0.08
$0.08
$0.08
$0.08
$0.07
$0.06
$0.06
$0.06
$0.05
Garden State Parkway
148.4
$0.05
$0.30
5.6
$0.05
$0.24
105.2
7.2
67.7
17.3
$0.05
$0.04
$0.04
$0.04
$0.21
$0.10
$0.20
$0.14
15
$0.03
$0.01
31.5
$0.03
$0.08
Length
in Miles
Name of Facility
Gov. Thomas E. Dewey Thruway
Berkshire Section
Oklahoma Indian Nation Turnpike
Florida
South Dade (Don Shula) Expressway
Oklahoma Cimarron Turnpike
Oklahoma Chickasaw Turnpike
Beachline East (Central Florida
Florida
Expressway)
New
Atlantic City Expressway
Jersey
New York
* No trucks are allowed on this roadway.
29
Average
Truck Cost
per Vehicle
Mile
$0.22
$0.33
$0.32
$0.37
$0.38
$0.22
$0.84
$0.19
$0.20
$0.15
Texas Toll Road Profiles
As a consolidated and quick reference, this section of the report contains brief profiles of tolling
entities and individual toll roads in Texas. The toll roads are organized under the entity
responsible for their current operations. Each profile includes the following information:
location, physical description, governance, project delivery, financing, and timeline.
North Texas Tollway Authority
As discussed previously, in 1997, the Texas Legislature created NTTA under Chapter 366 of the
Texas Transportation Code (1). Effective September 1, 1997, NTTA became the successor
agency to the Texas Turnpike Authority and succeeded to all assets, rights, liabilities, and other
property of the Texas Turnpike Authority located in Collin, Dallas, Denton, Johnson, and Tarrant
Counties. NTTA also assumed and became liable for all duties and obligations related to the
Texas Turnpike Authority at the time.
NTTA is authorized and empowered by the Regional Tollway Authority Act to construct,
maintain, repair, and operate turnpike projects within Collin, Denton, Dallas, and Tarrant
Counties. NTTA is further authorized to issue turnpike revenue bonds,4 payable solely from tolls
and other NTTA revenue, for the purpose of paying all or part of the cost of a turnpike project.
The NTTA System consists of the following toll facilities (illustrated in Figure 2) (27):







Dallas North Tollway.
Addison Airport Toll Tunnel.
President George Bush Turnpike.
Mountain Creek Lake Bridge.
Sam Rayburn Tollway.
Lewisville Lake Toll Bridge.
Chisholm Trail Parkway (Special Projects System).
4
A revenue bond in this context refers to a type of bond that is repaid from revenues generated primarily from a
tolled facility only.
30
Source: NTTA 2013 Final Budget.
Figure 2. North Texas Tollway Authority Facility Map.
31
Facility Development Cost and Financing Structure
The Texas Turnpike Authority (TTA) used a $58 million bond issue in 1954 to begin
constructing the Dallas-Fort Worth Turnpike. Subsequently, the authority issued another round
of bonds in 1965 that were used to fund the Dallas North Tollway (DNT). The tolls on the
Dallas-Fort Worth Turnpike were removed in 1978 and the road redesignated as I-30.
Since the transfer, NTTA has issued several bonds to fund the President George Bush Turnpike
(PGBT), the Sam Rayburn Tollway (SRT), and other projects. In order to consolidate the debt
issued by NTTA, the authority used a $5.3 billion system revenue bond issue by leveraging its
entire system to reduce investment risk for existing and new projects. Table 15 provides an
overview of the financial structure for three toll facilities on the NTTA System. Table 16
presents a historical review of NTTA’s outstanding debt by type by fiscal year (28).
Table 15. NTTA Toll Facility Financial Structure.
Date
Cost of
Toll Road
Financing Mechanism
Open
Construction
Information Not
Dallas North Tollway 1968
Information not available
Available
Section 129 loan, TTA toll-backed
revenue bonds, TTA capital
President George
1998
$2.8 Billion
improvement fund, right-of-way
Bush Turnpike
donation, TxDOT contributions, system
revenue bonds, TIGER 1, TIFIA loan
Purchased by
NTTA used $3.5 billion in bond
Sam Rayburn
NTTA for
anticipation notes (BANs) and then paid
2006
Tollway
$3.2 Billion from
off the BANs with a system bond issue of
TxDOT
$5.3 billion in revenue refunding bonds
32
Table 16. Summary of NTTA Outstanding Obligations (in Millions of Dollars).
Year
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
Revenue
Bonds
$1,139
$1,125
$1,420
$1,390
$1,368
$6,150
$7,122
$7,543
$7,555
$7,556
Bond
Anticipation
Notes
$3,487
-
Commercial
Paper Notes
Payable
$25.0
$75.0
$89.7
$5.2
$119.0
$56.3
$38.3
TxDOT
ISTEA Loan
$135.0
$135.0
$135.0
$135.0
$135.0
$135.0
$146.6
$142.9
$140.6
$138.3
TxDOT
Loan
Payable
$4.6
$4.6
$4.6
$4.6
$4.6
$4.6
$4.6
-
Total Debt
Amount
$1,278
$1,265
$1,560
$1,554
$5,070
$6,380
$7,278
$7,805
$7,752
$7,732
Historical Revenue Generation
NTTA owns and operates several tolled facilities. The DNT, PGBT, SRT (previously SH 121),
Mountain Creek Lake Bridge, Addison Airport Toll Tunnel, and Lewisville Lake Toll Bridge
compose what is referred to as the NTTA System. A separate enterprise fund of NTTA called the
Special Projects System is comprised of the PGBT Western Extension and the Chisholm Trail
Parkway. For the purposes of this report, only the revenues of the major tolled facilities are
reported.
NTTA reports revenue generation on an annual basis as shown in Table 17. The revenue
performance of the three major NTTA toll roads indicates the following:



The DNT grew 100 percent in revenue from 2007 to 2013, which represents an average
year-over-year growth rate of 16.7 percent.
The PGBT grew 117 percent in revenue from 2007 to 2013, which represents an average
The SRT grew 139 percent from 2009 to 2013, which represents an average year-overyear growth rate of 27.8 percent.
33
Table 17. NTTA Historical Revenue Generation (in Millions of Dollars).
Dallas North
President George
Sam Rayburn
Fiscal Year
Tollway
Bush Turnpike
Tollway
2007
$102.60
$103.30
N/A
2008
$122.90
$112.80
$12.70
2009
$137.50
$118.70
$51.60
2010
$165.70
$142.80
$78.90
2011
$179.20
$155.10
$96.20
2012
$195.80
$202.90
$110.40
2013
$205.10
$223.90
$123.40
Source: Data compiled by TTI from historical NTTA financial statements.Expenses and Obligations
From the audited financial statements published by NTTA, the researchers summarized the data
to compile a simplified statement of revenues and expenses in order to obtain an annual snapshot
of the yearly financial activities of NTTA. Revenues and expenditures were categorized as either
operating or non-operating based on the activities the items were associated with. The simplified
summary of revenues and expenses for NTTA is presented in Table 18.
NTTA reported revenues and expenses for the entire agency until 2011 when NTTA created two
separate enterprise funds as previously mentioned, the NTTA System and Special Projects
System. The summary of expenses in Table 18 combines the NTTA System and the Special
Projects System. A closer examination of the revenues, expenses, and, in particular, debt
obligations of the separate enterprise funds will be provided.
Table 18. NTTA Income Statement (in Millions of Dollars).
(Simplified statement of revenues and expenses compiled by TTI from
audited financial statements published by NTTA)
FY
2005
FY
2006
FY
2007
FY
2008
FY
2009
FY
2010
FY
2011
FY
2012
FY
2013
Operating
$177.6
$198.1
$210.7
$250.0
$307.6 $383.9
$455.1
$515.4 $623.9
Revenue
Non-operating
$15.6
$21.5
$20.2
$149.9
$27.8
$25.7
$19.9
$26.4
$29.4
Revenue
Contributions/
$0.0
$0.0
$25.0
$0.0
$67.1
$57.8
$128.5
$497.2 $131.5
Transfers In
Total Revenues
$193.2
$219.6
$255.8
$399.9
$402.5 $467.4
$603.5 $1,039.0 $784.8
Operating
$94.2
$116.2
$132.8
$137.5
$126.4 $125.7
$157.2
$159.0 $155.3
Expenses
Non-operating
$65.7
$62.1
$62.9
$322.6
$463.3 $459.0 $1,004.1
$538.9 $627.5
Expenses5
Transfers Out
$0.0
$25.0
$0.0
$0.0
$0.0
$0.2
$0.0
$0.0
$0.0
Total Expenses
$159.9
$203.3
$195.7
$460.1
$589.7 $584.8 $1,161.3
$697.9 $782.9
Source: Data compiled by TTI from NTTA System Annual Financial Reports and Special Projects Annual Financial
Reports (29).
5
Non-operating expenses include construction costs and do not reflect the annual cost of operating the system.
34
The following pages profile the following NTTA facilities in further detail:6



6
Dallas North Tollway.
President George Bush Turnpike.
Sam Rayburn Tollway (SH 121).
Due to data and project scope limitations, only selected facilities were profiled in this report.
35
Governance
The DNT is owned and operated by NTTA.
Upon the DNT’s opening in 1968, researchers
were only able to collect data from 2007 through
2013. For this time period, transactions for the
total facility have increased from 195 million in
2007 to 233 million in 2013.
Location
The Dallas North Tollway is a connection for
motorists between downtown Dallas and Collin,
Denton, and the northern Dallas Counties. The
roadway spans from I-35 in Dallas County to
US 380 in Collin County.
Project Delivery
Physical Description
Information is not available.
The DNT is 31 miles in length and consists of
six lanes (Figure 3). Major intersections include
the President George Bush Turnpike and the
Sam Rayburn Tollway.
Financing
Project Timeline
1968: Original construction from downtown to
I-635 begins.
1987: Briargrove Lane addition is completed.
1994: Sam Rayburn Tollway is completed.
2004: Gaylord Parkway is completed.
2007: Extension to Highway 380 is completed.
Operational Performance
Fiscal
Year
2007
2008
2009
2010
2011
2012
2013
Figure 3. Dallas North Tollway Map.
36
Total
Transactions
(Million)
195.4
207.3
205.0
205.8
215.6
230.3
233.2
Total
Revenue
($ Million)
$102.6
$122.9
$137.5
$165.7
$179.2
$195.8
$205.1
Financing
The Main Section was constructed for
$530.5 million and was financed by a
Section 129 loan, TTA toll-backed revenue
bonds, TTA Capital Improvement Fund, and
local right-of-way donations. The East Extension
was constructed for $1.05 billion and financed by
NTTA toll-backed revenue bonds, TxDOT, and
city contributions. The final West Extension was
constructed for $1.2 billion and financed by
system revenue bonds, a TIFIA loan, TIGER
1TIFIA, and equity.
Location
The President George Bush Turnpike functions
as an outer loop around Dallas County, while
also serving Collin and Denton Counties. The
corridor spans from I-35 at the Dallas/Tarrant
County border to I-30 near Dallas/Rockwall
County. Major intersections include I-30, Belt
Line Road, I-635, I-35, the DNT, and US 75.
The PGBT consists of six lanes for most of the
52-mile corridor (Figure 4). It is generally
divided into three sections: Main, Eastern
Extension, and Western Extension.
Project Timeline
1998: PGBT staged opening begins between
Preston and Midway.
2006: PGBT is completed.
October 2008: Construction begins on Eastern
Extension.
February 2010: NTTA Board authorizes
agreement with TxDOT for Western Extension.
December 2011: Eastern Extension opens to
traffic.
October 2012: Final Western Extension phase
opens to traffic.
December 2012: Final Western Extension
connector opens.
Figure 4. President George Bush Turnpike
Map.
Fiscal
Year
Governance
2007
2008
2009
2010
2011
2012
2013
The turnpike is owned and operated by NTTA.
Project Delivery
All three sections were constructed by NTTA
(the Eastern and Western Extensions were in part
constructed by TxDOT):



Main—$530.5 million.
Eastern Extension—$1.05 billion.
Western Extension—$1.2 billion.
37
Total
Transactions
(Million)
183.1
180.7
175.4
181.6
192.4
237.4
250.8
Total
Revenue
($ Million)
$103.3
$112.8
$118.7
$142.8
$155.1
$202.9
$223.9
Project Timeline
Sam Rayburn Tollway
August 2006: Denton Tap to Old Denton is
completed.
Location
The Sam Rayburn Tollway (Figure 5) is a
26-mile corridor extending through the cities of
Allen, Carrolton, Fairview, Frisco, Lewisville,
McKinney, Plano, and The Colony.
August 2008: Old Denton to Hillcrest is
completed.
September 2008: SH 121 is purchased by
NTTA and becomes SRT.
September 2009: Hillcrest to Hardin is
completed.
With six lanes, three in each direction, the SRT
(also known as SH 121) begins at I-35 East,
intersects with the DNT, and ends at the
intersection of the South Central Expressway.
March 2011: Harding to East of US 75 is
completed.
October 2011: First four ramps of SRT/DRT
Interchange is completed.
Governance
The tollway is owned and operated by NTTA.
November 2011: Last four ramps of SRT/DRT
Interchange is completed.
Project Delivery
The roadway was purchased in 2007 by NTTA
from TxDOT for $3.2 billion.
Fiscal
Year
Financing
For the SRT, NTTA used $3.5 billion in BANs
to purchase the tollway from TxDOT. The
BANs were then refunded into long-term system
debt of $5.3 billion, which included the BANs
and approximately $700 million of non-SRT
refunded debt.
2008
2009
2010
2011
2012
2013
Total
Transactions
(Million)
19.2
69.5
89.3
99.4
111.6
120.0
Figure 5. Sam Rayburn Tollway Map.
38
Total
Revenue
($ Million)
$12.7
$51.6
$78.9
$96.2
$110.4
$123.4
Harris County Toll Road Authority
HCTRA was established in 1983 by the Harris County Commissioners Court pursuant to
Chapter 284 of the Texas Transportation Code, and voters in the county approved $900 million
in bonds to be issued by the authority for the purpose of building and maintaining toll roads. The
Hardy Toll Road was completed in 1987, and the western segment of the Sam Houston Tollway
was completed in 1990. In 1994, HCTRA purchased the Jesse H. Jones Memorial Bridge toll
facility from the Texas Turnpike Authority, and in 2004, HCTRA opened the Westpark Tollway.
In 2009, the Katy Managed Lanes were opened for full operations.
HCTRA, a division of the Harris County Public Infrastructure Department, is an enterprise fund
of the county and relies on charges from users of the toll road system to fund operations, debt
service, and future transportation projects.
The following toll facilities are operated by HCTRA (illustrated in Figure 6) (30):




Sam Houston Tollway.
Hardy Toll Road.
Westpark Tollway (Harris County segment only).
Fort Bend Parkway (Harris County segment only).
Source: HCTRA.
Figure 6. Harris County Toll Road Authority Facility Map.
39
In 1987, the Hardy Toll Road became the first road to be completed by HCTRA. In 1990, the
Sam Houston Tollway became the second toll road to open under the authority’s control. Since
its creation, HCTRA has used its bond-issuing authority to construct the entire Beltway 8 (i.e.,
Sam Houston Parkway), the Westpark Tollway, and the Hardy Toll Road. As of February 2013,
the authority still has over $15 million in available bond-issuing authority from the initial
approval in 1983. In order to finance all of the projects that HCTRA has taken on over the years,
Harris County and TxDOT have used bond issues and transfers to the authority to help with
specific projects. Harris County used over $230 million in tax and revenue bonds to assist with
the financing of the Sam Houston Ship Channel Bridge in 1994. Table 19 provides an overview
of the financial structure for three HCTRA toll facilities.
Table 19. HCTRA Toll Facility Financial Structure.
Date
Cost of
Toll Road
Financing Mechanism
Open
Construction
Paid for by revenue and taxHardy Toll Road
1988
$365.9 Million
supported debt
Bond sales, existing toll road funds,
Westpark Tollway
2004
$240–260 Million
and pass-through financing
Bond sales, toll revenues, and
Sam Houston Tollway
1988
Varies by Section
contributions from other agencies
HCTRA reports revenue on an annual basis as shown in Table 20. The revenue performance of
the three major HCTRA toll roads indicates the following:



The Hardy Toll Road grew 165 percent in revenue from 2005 to 2013, which represents
an average year-over-year growth rate of 20.6 percent.
The Westpark Tollway grew 103 percent in revenue from 2006 to 2013, which represents
The Sam Houston Tollway grew 58 percent in revenue from 2005 to 2013, which
represents an average year-over-year growth rate of 7.8 percent.
40
Table 20. HCTRA Historical Revenue Generation (in Millions of Dollars).
Sam Houston
Fiscal Year
Hardy Toll Road Westpark Tollway
Tollway
2005
$18.59
$8.73
$256.71
2006
$31.95
$23.04
$271.25
2007
$33.09
$33.32
$287.47
2008
$40.74
$41.87
$321.34
2009
2010
$42.51
$44.10
$42.23
$39.92
$330.69
$345.94
2011
$45.06
$41.43
$356.19
2012
$45.85
$42.79
$381.12
2013
$49.25
$46.83
$406.72
Source: Data compiled by TTI from historical HCTRA financial statements.
Expenses and Obligations
From the audited financial statements published by HCTRA, the researchers summarized the
data to compile a simplified statement of revenues and expenses in order to obtain an annual
snapshot of the yearly financial activities of HCTRA. Revenues and expenditures were
categorized as either operating or non-operating based on the activities the items were associated
with. The simplified summary of revenues and expenses for HCTRA is presented in Table 21.
Table 21. HCTRA Income Statement (in Millions of Dollars).
(Simplified statement of revenues and expenses by TTI)
Operating
Revenue
Non-operating
Revenue
Contributions/
Transfers In
Total
Revenues
Operating
Expenses
Non-operating
Expenses
Transfers Out
Total
Expenditures
FY
2004
FY
2005
FY
2006
FY
2007
FY
2008
FY
2009
FY
2010
FY
2011
FY
2012
FY
2013
FY
20147
$265.9
$317.7
$349.3
$394.6
$430.2
$443.0
$456.7
$482.2
$525.4
$560.7
$610.2
$11.1
$6.3
$20.8
$40.1
$53.8
$42.3
$35.5
$14.5
$40.4
$27.9
$6.1
$15.2
$12.5
$3.1
$3.1
$3.1
$9.3
$7.2
$4.1
$0.6
$0.1
$0
$292.2
$336.6
$373.3
$437.9
$487.0
$494.6
$499.5
$500.8
$566.3
$588.7
$616.3
$104.7
$100.3
$119.4
$159.6
$155.3
$184.5
$227.1
$218.0
$217.3
$235.4
$252.1
$109.3
$113.1
$110.8
$117.1
$117.6
$121.2
$132.9
$145.3
$151.4
$150.7
$133.9
$67.5
$20.1
$20.2
$31.1
$120.5
$120.2
$127.1
$124.4
$133.5
$120.0
$121.0
$281.5
$233.5
$250.5
$307.8
$393.5
$426.0
$487.2
$487.6
$502.2
$506.1
$507.1
Source: Data compiled by TTI from HCTRA Basic Financial Statements from FY 2004–2014 (31).
7
HCTRA also reports FY 2014 expenses as $226.9 million in debt service and $132.5 million in operations and
maintenance.
41
The following pages profile the following HCTRA facilities in further detail:



Hardy Toll Road.
Sam Houston Tollway.
Westpark Tollway (Harris County segment only).
42
Project Timeline
Hardy Toll Road
1984: Construction begins.
Location
1988: Hardy Toll Road is completed.
The Hardy Toll Road (Figure 7) runs northwest
to southeast located north of downtown Houston
from I-610 to I-45 at the Harris County line.
2000: Airport connector opens in January.
2013: Final design phase of downtown
connector is completed.
2015: Expected design phase of widening from
FM 1960 to Grand Parkway.
The toll road is 21 miles in length with an
additional 3 miles connecting to George Bush
Intercontinental Airport. The roadway varies
between four and six divided lanes.
Fiscal
Year
Governance
The Hardy Toll Road is owned and operated by
HCTRA.
2005
2006
2007
2008
2009
2010
2011
2012
2013
Project Delivery
Total project cost was $365.9 million paid for by
revenue and tax-supported debt. The 3-mile
airport connector was constructed for
$31.7 million.
Financing
Figure 7. Hardy Toll Road Map.
43
Total
Transactions
(Million)
32.5
33.6
34.0
37.9
36.6
37.1
37.4
38.0
39.7
Total
Revenue
($ Million)
$18.6
$31.9
$33.1
$40.7
$42.5
$44.1
$45.1
$45.9
$49.3
Financing
Sam Houston Tollway
TxDOT paid $90 million for the construction of
the segment between SH 225 and US 59. The
northeast section was constructed for
$400 million and was financed entirely by toll
revenue.
Location
The Sam Houston Tollway (Figure 8) is an outer
loop around the city of Houston and surrounding
areas. The non-tolled portions of the tollway are
known as Beltway 8. The tollway crosses over
the Houston Ship Channel and I-10 E to SH 225.
Project Timeline
1982: Houston Ship Channel toll bridge opens
in May.
Extending 70 miles in length, the roadway has
major interchanges and connections that include
SH 225 in Pasadena, and I-45, I-69/US 59, and
I-10 in Houston. The Sam Houston Tollway has
two to four lanes in each direction.
1985: Groundbreaking is held.
1988: First segment opens.
1989: Second segment opens.
1990: Third segment opens, and toll road is
complete.
2000: Airport connector opens.
2005: Expansion to eight main lanes on the west
and north sides is completed.
2011: Last remaining section in the northeast is
completed.
Fiscal
Year
2005
2006
2007
2008
2009
2010
2011
2012
2013
Figure 8. Sam Houston Tollway Map.
Governance
This toll road is owned and operated by
HCTRA.
Project Delivery
44
Total
Transactions
(Million)
252.0
270.0
281.6
288.2
272.0
281.8
286.4
309.8
322.2
Total
Revenue
($ Million)
$256.7
$271.3
$287.5
$321.3
$330.7
$345.9
$356.2
$381.1
$406.7
Westpark Tollway
Financing
Financing the roadway was done through bond
sales and existing toll road funds. There is an
estimated reimbursable value of $36.7 million to
Fort Bend County, which pays the remaining
balance.
Location
The Westpark Tollway (Figure 9) spans from
I-610 to FM 1464 in Harris County and from
FM 1464 to west of SH 99 in Fort Bend County.
An extension of the Westpark Tollway in Fort
Bend County, from SH 99 to FM 723 tapering
off to east of the FM 1463/FH 359 intersection,
is currently in the design-build phase.
Construction is set to begin in 2015.
Project Timeline
2001: Phase 1 groundbreaking is held.
2003: Phase 2 groundbreaking is held.
2004: Phase 1 opens.
2005: Phase 2 opens (remaining 5 miles into
Fort Bend County).
Currently, the four-lane roadway is 19 miles in
length, with major interchanges and connections
at SH 99, SH 6, Beltway 8, and US 59.
2014: Proposed construction start of extension
from SH 99 to FM 1463.
2015–2016: Proposed construction end.
Fiscal
Year
2005
2006
2007
2008
2009
2010
2011
2012
2013
Figure 9. Westpark Tollway Map.
Governance
The Westpark Tollway is owned and operated
jointly by HCTRA and FBCTRA.
Project Delivery
The tollway project was constructed through a
design-bid-build contract at a cost of $240–
260 million.
45
Total
Transactions
(Million)
12.7
30.3
41.6
46.0
42.0
39.3
39.5
41.2
43.6
Total
Revenue
($ Million)
$8.7
$23.0
$33.3
$41.9
$42.2
$39.9
$41.4
$42.8
$46.8
Texas Department of Transportation
In 1953, the Texas Legislature created the original Texas Turnpike Authority as an independent
entity with statewide authority to construct toll roads and bridges. SB 370, enacted into law in
1997, subsequently abolished the old Texas Turnpike Authority and created a turnpike authority
division, the Texas Turnpike Authority Division, within TxDOT to develop toll road facilities in
the state. This bill also established the regional NTTA and transferred to it all Texas Turnpike
Authority assets in certain North Texas counties (32).
In 2011, toll facility duties originally housed within the TxDOT Texas Turnpike Authority
Division were transferred to the Toll Operations Division (TOD). This division now handles the
transaction processing, toll tag registration, customer service, toll equipment management, and
all other back-office services for toll roads owned and operated by TxDOT and GPTC. In
addition to CTTS facilities, TxDOT TOD handles the transaction processing and violation
processing for Loop 49, the portion of SH 99 Segment D within Harris County, SH 99
Segments E and I-2A, and the SH 255 Camino Columbia toll roads. The Strategic Project
Division of TxDOT is now responsible for the procurement, development, and delivery of
TxDOT-owned toll roads and the development of public-private partnership agreements in the
form of CDAs.
TxDOT owns and operates CTTS facilities, which include Loop 1 North (Parmer Lane to
SH 45N), SH 130 Segments 1–4, SH 45 North, and SH 45 Southeast, as shown in Figure 10. In
addition, TxDOT owns and operates SH 255 (Camino Colombia) near Laredo and SH 99
Segment I-2A in the east Houston area.8
8
Information about facility development costs, financing structure, and historical revenue generation for SH 255
(Camino Columbia) and SH 99 Segment I-2A is not included in this report due to data and project scope limitations.
46
Source: TxDOT.
Figure 10. Central Texas Turnpike System Facility Map.
Four toll facilities make up CTTS. Table 22 shows the individual toll roads of CTTS including
the year they opened to traffic, the reported cost of construction, and the original financing
method for the roads. Bonds issued in 2002, as well as others associated with the funding of
CTTS, were refunded by the revenue from sale of newly issued bonds in 2012. In 2013, debt
included $1.6 billion in revenue bond debt and $1.1 billion under the TIFIA program (33). Table
23 summarizes this bond information.
47
Table 22. CTTS Financial Structure.
Toll Road
Date
Open
Cost of Construction
Loop 1 North
2006
$822.8 Million
(Packaged with SH 45
North)
SH 130
Segments 1–4
2006
$1.3 Billion
SH 45 North
2006
$822.8 Million
(Packaged with Loop 1)
SH 45 Southeast
2009
$142 Million
Financing Mechanism
$1.3 billion in toll revenue bonds
issued by TxDOT in August 2002, and
$900 million in bond appreciation
notes (issued in anticipation of a
$900 million TIFIA loan), stateappropriated funds, and right-of-way
contributions (33,34)
SH 45 Southeast was added to the
system effective Sept. 1, 2012; SH 45
Southeast was financed with cash on
deposit in the State Highway Fund;
SH 45 Southeast did not have any
outstanding debt obligations prior to
its inclusion in the system
Table 23. Summary of CTTS Outstanding Obligations.
Series
Central Texas Turnpike System First Tier Revenue Bonds Series 2012-A
Central Texas Turnpike System First Tier Revenue Bonds Series 2012-B
Central Texas Turnpike System First Tier Revenue Bonds Series 2002-A
Subordinate Lien Obligation Issued to the U.S. Department of
Transportation, TIFIA Secured Loans
Par Amount
Issued
($ Million)
$585.3
$225.0
$428.7
$900.0
Note: Par amount is the amount or value of the bond at the time it is issued.
TxDOT reports toll revenues for each facility in CTTS through quarterly and annual financial
statements (35). The revenues for each toll road are presented in Table 24. The revenue
performance of the four major CTTS toll roads indicates the following:



Loop 1 North grew 49 percent in revenue from 2008 to 2013, which represents an
average year-over-year growth rate of 9.8 percent.
SH 130 Segments 1–4 grew 197 percent in revenue from 2008 to 2013, which represents
SH 45 North grew 71 percent in revenue from 2008 to 2013, which represents an average
48

SH 45 Southeast grew 33 percent in revenue from 2010 to 2013, which represents an
average year-over-year growth rate of 11.0 percent.
Table 24. CTTS Toll Revenue Summary (in Millions of Dollars).
Loop 1
SH 130
SH 45
SH 45
Fiscal Year
North
Segments 1–4
North
Southeast
2007
$6.13*
$5.63*
$4.55
N/A
2008
$11.44
$19.46
$17.97
N/A
2009
$11.92
$27.11
$19.88
$0.47*
2010
$11.94
$34.42
$19.80
$3.21
2011
$12.32
$36.24
$20.27
$3.60
2012
$13.02
$40.74
$21.95
$4.25
2013
$16.14
$54.49
$29.08
$4.27
* Not a complete fiscal year.
Source: Data compiled by TTI from TxDOT CTTS Actual Traffic and Revenue Reports (36).
From the audited financial statements published by TxDOT, the researchers summarized the data
to compile a simplified statement of revenues and expenses in order to obtain an annual snapshot
of the yearly financial activities of CTTS. Revenues and expenditures were categorized as either
operating or non-operating based on the associated activities. Table 25 provides examples of the
items included within these categories. The simplified summary of revenues and expenses for
CTTS is presented in Table 26.
Table 25. Example of Operating and Non-operating Revenues and Expenses.
Revenues
Expenses
Operating
Non-operating
Operating
Non-operating
 Toll revenues
 Interest from
 Salaries
 Interest payments
investments
 Fees associated
 Professional
 Debt service
with toll
 Lease revenue
services/fees
 Bad debt expense
transactions
 Increase in fair
 Repairs and
 Loss on disposal of
value of
maintenance
capital assets
investments
 Depreciation
49
Table 26. CTTS Income Statement (in Millions of Dollars).
(Simplified statement of revenues and expenses compiled by TTI from
audited financial statements published by CTTS)
Operating Revenue
Non-operating Revenue
Contributions/Transfers In
Total Revenues
Operating Expenses
Non-operating Expenses
Contributions/Transfers
Out Expenditures
Total
FY 2009
$66.36
$10.39
$27.75
$104.50
$68.03
$152.85
$0.00
$220.88
FY 2010
$73.30
$6.64
$63.29
$143.23
$67.61
$139.47
$0.00
$207.08
FY 2011
$74.86
$6.89
$46.09
$127.84
$69.45
$140.43
$0.00
$209.88
FY 2012
$85.81
$6.87
$55.26
$147.93
$73.14
$142.71
$0.00
$215.85
Source: Data compiled by TTI from TxDOT CTTS Actual Traffic and Revenue Reports (36).
The following pages profile the following TxDOT facilities in further detail:





9
Loop 1 North (Parmer Lane to SH 45 North).
SH 255 (Camino Columbia).
SH 45 North.
SH 130 Segments 1–4.
SH 45 Southeast.
$225.10 million in FY 2013 represents the addition of SH 45 Southeast to the system.
50
FY 2013
$119.14
$6.35
$225.109
$350.58
$67.17
$145.88
$0.00
$213.06
Loop 1 North
Financing
In 2002, the Texas Transportation Commission
issued $2.2 billion in revenue bonds and bond
anticipation notes to help finance a portion of
the project system; this system included Loop 1,
SH 45 North, and SH 130.
Location
Loop 1 North (Figure 11) is the northern portion
of the MoPac Expressway (Loop 1) and
traverses between SH 45 and Parmer Lane, west
of I-35 in Austin.
Project Timeline
1961: Loop 1 is included as part of the 1961
City of Austin Master Plan.
Located to the west of I-35 in Austin, the
corridor runs 3 miles long with six divided lanes,
three lanes traveling northbound and three lanes
southbound.
2002: Loop 1 is included as part of the system
identified by the Texas Transportation
Commission for expansion, enlargement, or
extension.
Fiscal
Year
2007
2008
2009
2010
2011
2012
2013
Figure 11. Loop 1 North Map.
Governance
This toll road is owned and operated by TxDOT
as part of CTTS.
Project Delivery
For this project TxDOT used Post, Buckley,
Schuh & Jernigan, Inc., an engineering
management firm, and a traditional design-bidbuild process.
51
Total
Transactions
(Million)
10.9
17.2
17.4
18.1
18.9
19.9
19.7
Total
Revenue
($ Million)
$6.1
$11.4
$11.9
$11.9
$12.3
$13.0
$16.1
traffic from Mexican shipping and hazmat
transportation.
SH 255
Location
Upon foreclosure auction, TxDOT was originally
outbid by Camino Texas Partnership, LP (CTP) (a
group of original investors), and the road was sold
for $12.1 million. TxDOT was concerned the group
was attempting to raise the price to recoup its losses
and stopped bidding early in the auction. An
agreement was eventually reached with CTP, and
TxDOT purchased the road for $20 million a few
months after the auction.
SH 255 (Figure 12) connects I-35 with FM 1472
about 18 miles northwest of Laredo. The southern
section of the road extends from FM 1472 to the
roadside operations building, and the northern
section connects the operations building to I-35.
The full length of the roadway is 22 miles with
primarily two lanes. The southern section is a
3.5-mile, four-lane divided roadway, and the
northern section is 18.5 miles long with two nondivided lanes.
Financing
The total construction costs of CCTR were nearly
$90 million and financed by a variety of privatesector investors, with John Hancock and New York
Life Insurance as the leading lenders. TxDOT
purchased the roadway for $20 million using funds
from the State Highway Fund.
Project Timeline
1997: The Texas Transportation Commission
approves Camino Columbia, Inc., to finance,
construct, and maintain a private toll road.
2000: Camino Columbia Toll Road opens.
January 2004: The toll road is foreclosed on and
auctioned to Camino Texas Partnership, LP.
June 2004: TxDOT purchases the toll road from
Camino Texas Partnership, LP.
September 2004: TxDOT opens the road as
SH 255.
November 2004: Tolling begins on the road.
Figure 12. SH 255 Map.
2008: Road is converted to all-electronic, open-road
tolling facility.
Governance
The original toll road was owned by Camino
Colombia, Inc. (CCTR), which consisted of
landowners along the road. TxDOT purchased the
road in 2004 following foreclosure by John Hancock
and New York Life Insurance.
Fiscal
Year
2009
2010
2011
2012
2013
Project Delivery
The roadway was constructed for around $90 million
between 1997 and 2000 by CCTR. In January 2004,
CCTR was foreclosed on as a result of low revenue.
This was attributed to unfulfilled expectations of
52
Total
Transactions
(Million)
0.07
0.20
0.30
0.30
0.30
Total
Revenue
($ Million)
$0.2
$0.6
$1.3
$1.4
$1.1
SH 45 North
Financing
Funding for SH 45 North was a combination of
toll revenue bonds issued by TxDOT, a federal
TIFIA loan, traditional state-appropriated funds,
and local government contributions in the form
of right of way.
Location
SH 45 North (Figure 13) is an east-west corridor
that runs north of Austin from US 183 to
SH 130.
Project Timeline
The roadway is 13 miles in length with four to
six lanes. There are major interchanges and
connections with US 183, Loop 1, I-35, and
SH 130.
2006: First segment from Loop 1 to SH 130
opens one year ahead of schedule.
February 2007: Second segment opens.
April 2007: Third segment from US 183 to
FM 620 opens six months ahead of schedule.
Governance
SH 45 North is owned and operated by TxDOT
as a part of CTTS.
Fiscal
Year
Project Delivery
This toll road was constructed through a designbid-build contract at a cost of $822.8 million for
SH 45 North and Loop 1 combined.
2007
2008
2009
2010
2011
2012
2013
Figure 13. SH 45 North Map.
53
Total
Transactions
(Million)
9.0
29.5
31.3
32.2
33.5
35.8
37.1
Total
Revenue
($ Million)
$4.6
$17.9
$19.8
$19.8
$20.3
$21.9
$29.1
Location
SH 130 (Figure 14) runs parallel to I-35 in
Central Texas. The relief route for the heavily
congested I-35 runs north-south on the east side
of Austin from I-35/SH 195 at Georgetown to
US 183 in southern Travis County. The toll road
then stretches from US 183 to SH 45 Southeast
to connect to I-35.
This roadway is 49 miles in length with four
main lanes, two traveling northbound and two
southbound. There are major interchanges with
I-35, US 79, SH 45 North, US 290, SH 71, and
SH 45 Southeast. Future plans include
expanding the road to six lanes should there be a
demand and funding available. In 2011, TxDOT
agreed to extend SH 130 an additional 53 miles,
from Seguin and moving west to end at I-35
outside of San Antonio. Segments 5 and 6 were
not included in this research effort because they
are not operated or maintained directly by
TxDOT, but rather by a concessionaire through
a public-private partnership CDA.
Figure 14. SH 130 Segments 1–4 Map.
Project Timeline
2002: Notice to proceed is issued to design-build
contractor.
November 2006: Segment 2 from US 79 near
Hutto to US 290 near Manor opens to traffic.
December 2006: Segment 1 from I-35 near
Georgetown to US 79 opens to traffic.
Governance
2007: Segment 3 from US 290 to SH 71 opens
to traffic.
SH 130 is owned and operated by TxDOT as
part of CTTS.
2008: Segment 4 from SH 71 to SH 45 opens to
traffic.
Project Delivery
Construction for the tollway came through a
design-build contract at a cost of $1.3 billon.
Fiscal
Year
Financing
Funding for SH 130 was a combination of toll
revenue bonds issued by TxDOT, a federal
TIFIA loan, traditional state-appropriated funds,
and local government contributions in the form
of right of way.
2007
2008
2009
2010
2011
2012
2013
54
Total
Transactions
(Million)
6.9
19.3
24.5
28.3
30.6
34.4
41.4
Total
Revenue
($ Million)
$5.6
$19.5
$27.1
$34.4
$36.2
$40.7
$54.5
Governance
SH 45 Southeast
The toll road has been owned and operated by
TxDOT as a part of CTTS since September
2012.
Location
SH 45 Southeast (Figure 15) runs east-west
through the southern part of Austin near
Creedmoor. This roadway connects I-35 at
FM 1327, north of Buda, to the SH 130 and
US 183 junction near Mustang Ridge.
Project Delivery
Construction of SH 45 Southeast took place
through a design-build contract at a cost of
$142 million.
Financing
SH 45 Southeast is a 7.4-mile, four-lane
highway with no frontage roads. It has major
interchanges and connections with I-35, North
Turnersville Road, RM 1625, and
SH 130/US 183.
The Texas Transportation Commission financed
the road project with cash on deposit in the State
Highway Fund.
Project Timeline
2007: SH 45 Southeast is approved for
construction.
March 2009: SH 45 Southeast is planned to
open.
May 2009: SH 45 Southeast opens with no toll
charged.
June 2009: Toll is collected for pay-by-mail
users and 50 percent reduced for TxTag users.
July 2009: SH 45 Southeast opens with full
tolling.
Fiscal
Year
2007
2008
2009
2010
2011
2012
2013
Figure 15. SH 45 Southeast Map.
55
Total
Transactions
(Million)
Total
Revenue
($ Million)
N/A
2.9
3.3
3.8
4.3
$0.5
$3.2
$3.6
$4.3
$4.3
Northeast Texas Regional Mobility Authority
NET RMA, the fifth RMA to be established in the state since HB 3588, was enacted into law in
2003 and was approved as an RMA by the Texas Transportation Commission on October 28,
2004. NET RMA was founded by Smith and Gregg Counties; in June 2006, Cherokee, Rusk,
Harrison, and Upshur Counties joined NET RMA (37). Finally, in July 2007, concluding that an
“expanded RMA will benefit local governments by increasing local control over transportation
planning and through additional transportation projects that may be funded through the RMA,”
the commission approved the addition of six new counties to NET RMA: Bowie, Cass, Panola,
Titus, Van Zandt, and Wood (38). Figure 16 illustrates NET RMA member counties.
Source: NET RMA 2013 Annual Report.
Figure 16. NET RMA Facility Map.
56
Initially, TxDOT owned and operated Loop 49. NET RMA was created on October 28, 2004, to
accelerate the development of transportation projects in the region and is governed by a
19-member board of directors. In March 2013, the Texas Transportation Commission transferred
the ownership of Loop 49 to NET RMA. Through a tolling agreement, TxDOT still processes the
toll transactions for NET RMA. Table 27 shows the historical toll revenue generated from
Loop 49. These revenue figures only account for the time that Loop 49 was owned by TxDOT.
Table 27. NETRMA Historical Revenue Generation (in Millions of Dollars).
Fiscal Year
Loop 49
10
2007
$0.12
2008
$0.36
2009
$0.61
2010
$0.64
2011
$0.67
2012
$0.71
201311
$0.76
One NET RMA toll facility is profiled in this report—Loop 49.
10
11
Tolling began in November 2006.
Revenue numbers are through March 28, 2013.
57
Governance
Loop 49
Loop 49 is owned and operated by NET RMA. It was
passed from TxDOT in 2012.
Location
Loop 49 (Figure 17) in Smith County is a partially
completed project that encompasses three existing
project plans: Loop 49, the Longview Outer Loop, and
the Lindale Relief Route. The loop is divided into seven
major segments: Segment 1, Segment 2, Segment 3A,
Segment 3B, Segment 5, the Lindale Relief Route, and
the East Texas Hourglass. The loop is currently planned
to extend 33 miles; however, that plan does not include
the East Texas Hourglass, which does not have a
determined length at this time. Loop 49 currently has five
out of seven segments complete.
Project Delivery
The first segment was completed and opened in August
2006 at a cost of $22.3 million. Tolling began on the
roadway in November 2006. The second segment was
completed in late 2007 for a total construction cost of
$15 million.
TxDOT contracted the construction of Segment 3A to
Longview Bridge and Road, Ltd., for nearly $38 million.
Segment 3B was delivered by CH2M Hill using a
design-build contract. Segment 5 was contracted by
TxDOT for $22 million.
The first segment completed in the Loop 49 project is
about 5 miles long and extends from SH 155 to US 69.
The road currently has two lanes, but all sections will be
expanded to four lanes when the project is ultimately
completed. The second segment consists of nearly
2 miles of road as it extends from US 69 to FM 756
(Paluxy Road).
Financing
Information regarding the financing for Segment 1 and
Segment 2 was not available.
A portion of the funding for Segment 3A came from the
American Recovery and Reinvestment Act (ARRA) after
approval in early 2009 by the Texas Transportation
Commission. Segment 3B received funding from a State
Infrastructure Bank Loan of $39.2 million and a Toll
Equity Loan of $50 million secured by NET RMA from
TxDOT.
Segment 3A, the two-lane, 6.6-mile portion of Loop 49,
intersects with SH 155 and SH 31. Segment 3B is the
fourth section and connects SH 31 to I-20. Currently, this
road only has two lanes, but four lanes are expected in
the future. Segment 5 runs 2.5 miles from FM 756 to
SH 110 and was designed by Atkins, NET RMA’s
general engineering consultant, and constructed by
Longview Bridge and Road, Ltd.
Project Timeline
2006: Segment 1 (5 miles) is completed.
2008: Segment 2 (2 miles) is completed.
2012: Segment 3A (6.6 miles) is completed.
2012: Segment 5 (2.5 miles) is completed.
2013: Segment 3B (10.2 miles) is completed.
Fiscal
Year
2007
2008
2009
2010
2011
2012
Figure 17. Loop 49 Map.
58
Total
Transactions
(Million)
0.4
1.2
1.6
1.8
1.9
2.0
Total
Revenue
($ Million)
$0.1
$0.4
$0.6
$0.6
$0.7
$0.7
Central Texas Regional Mobility Authority
CTRMA was created in 2002 under the provisions outlined in Chapter 370 of the Texas
Transportation Code. CTRMA serves Williamson and Travis Counties with a mission to
“implement innovative, multi-modal transportation solutions that reduce congestion and create
transportation choices that enhance quality of life and economic vitality” (39). CTRMA is
governed by a seven-member board; the governor appoints the chairman, and the remaining six
members are chosen evenly by the counties. CTRMA is pursuing several projects throughout
Central Texas, as illustrated in Figure 18 (40).
Source: CTRMA 2013 Annual Report.
Figure 18. CTRMA System Map.
In order to serve the growing transportation needs of Travis and Williamson Counties, CTRMA
was created in 2002. The authority continues to expand the transportation infrastructure under its
control.
The 183A toll road and Manor Expressway are highlighted in this report. Phase 1 of the 183A
toll road was financed using Series 2005 obligation bonds. The second phase of the project used
a more complex financing system that leveraged Series 2010 Senior Lien Bonds, Series 2010
Subordinate Lien Bonds, and revenue from the existing system. Manor Expressway Phases 1 and
2 were financed through federal stimulus funding and revenue bonds. These are shown in Table
28.
59
Toll Road
183A
Manor
Expressway
Table 28. CTRMA Toll Facility Financial Structure.
Cost of
Date
Construction
Financing Mechanism
Open
($ Million)
Revenue bonds, TIFIA loan, state-appropriated
2007
$304.7
funds, right-of-way government contribution
Federal stimulus funding, state-appropriated
2014
$426.0
funds, State Infrastructure Bank loan, revenue
bonds
CTRMA reports revenue on an annual basis, which is summarized in Table 29. Toll revenues
from 183A grew 109 percent from 2008 to 2013, which represents an average year-over-year
growth rate of 21.8 percent. Some of this revenue growth is attributed to the opening of an
expanded 183A in 2012.
Table 29. CTRMA Historical Revenue Generation (in Millions of Dollars).12
Fiscal Year
2008
2009
2010
2011
2012
2013
183A
$15.34
$17.33
$20.22
$21.46
$23.61
$32.05
Source: Data compiled by TTI from historical
CTRMA financial statements.
From the audited financial statements published by CTRMA, the researchers summarized the
data to compile a simplified statement of revenues and expenses in order to obtain an annual
snapshot of the yearly financial activities of CTRMA. Revenues and expenditures were
categorized as either operating or non-operating based on the activities the items were associated
with. The simplified summary of revenues and expenses for CTRMA is presented in Table 30.
12
Tables 29 and 30 show revenues and expenses up to FY 2013 only; therefore, these tables do not include the
Manor Expressway, which opened in 2014.
60
Table 30. CTRMA Income Statement (in Millions of Dollars).
(Simplified statement of revenues and expenses by TTI)
Operating Revenue
Non-operating Revenue
Total Revenue
Operating Expenses
Total Expenses
FY
2011
$21.5
$32.0
$53.5
$17.7
$11.6
$29.3
FY
2012
$23.6
$28.6
$52.2
$17.1
$21.4
$38.5
FY
2013
$32.2
$92.6
$124.8
$24.8
$22.3
$47.1
Source: Data provided by CTRMA.
The following pages profile the following CTRMA facilities in further detail:


Highway 183A.
Manor Expressway.
61
FY
2014
$40.0
$116.0
$156.0
$27.4
$17.6
$45.0
Highway 183A Toll Road
Project Delivery
The roadway was constructed through a designbuild contract at a cost of $304.7 million, which
excludes the cost of the 5-mile extension
constructed in 2012.
Location
The 183A toll road (Figure 19) extends from
northwest Austin through Cedar Park and
Leander in Williamson County. The roadway
runs parallel and to the west of I-35.
Financing
Funding for 183A was through a combination of
revenue bonds, a federal TIFIA loan, traditional
state-appropriated funds, and a local government
contribution in the form of right of way.
Highway 183A is 11.6 miles in length and is a
four-lane roadway with the ability to expand to
six lanes.
Project Timeline
2007: 183A Phase I opens.
2010: Construction begins on Phase II.
2011: Shared-use path opens.
2011: San Gabriel Parkway, 183A East, opens.
2012: Phase II Extension opens.
Fiscal
Year
2008
2009
2010
2011
2012
2013
Figure 19. Highway 183A Toll Road Map.
Governance
Highway 183A is owned and operated by
CTRMA.
62
Total
Transactions
(Million)
19.4
21.4
22.3
22.7
24.9
36.1
Total
Revenue
($ Million)
$15.5
$17.4
$20.2
$21.5
$23.6
$32.1
Governance
Manor Expressway
Manor Expressway is owned and operated by
CTRMA.
Location
When all phases are completed, Manor
Expressway (Figure 20) will extend from
US 183 to east of Parmer Lane.
Project Delivery
Phase 1 used a design-bid-build contract. Phase
2 used a CDA.
Financing
Once completed, the Manor Expressway will be
a 6.2-mile, limited-access toll road with three
lanes in each direction. The existing US 290 will
be improved and will remain non-tolled. The
Manor Expressway will link important roadways
in the region, including US 183 and the SH 130
toll road.
This first phase of the Manor Expressway was
initially funded using a combination of the
federal stimulus funding and a State
Infrastructure Bank loan. Senior lien revenue
bonds ($306 million) and subordinate lien
revenue bonds ($70 million) were sold to
finance the remainder of Phase 1 and Phase 2 of
the Manor Expressway from Chimney Hill
Boulevard to east of Parmer Lane. The total
project cost was approximately $426 million.
Project Timeline
April 2013: Phase 1 is completed.
May 2014: Phase 2 opens to traffic.
The full length of the Manor Expressway opened
to traffic in May 2014; transactions and revenue
data are not available at this time.
Figure 20. Manor Expressway Map.
63
Cameron County Regional Mobility Authority
On September 30, 2004, the Texas Transportation Commission approved the creation of the
Cameron County Regional Mobility Authority. The commission determined that this approval
was granted in order “to promote and improve regional mobility within Cameron County, South
Texas, and internationally with the Northern Tamaulipas region of Mexico” (41). According to
the CCRMA 2012–2016 Strategic Plan, 22 projects are in various stages of development, as
illustrated in Figure 21.
Source: CCRMA 2012–2016 Strategic Plan.
Figure 21. CCRMA System Map.
One CCRMA toll facility was profiled for this report—SH 550 Segments 1–3.
64
Governance
SH 550 (Phases I, II, and III)
SH 255 is owned and operated by CCRMA.
Location
Project Delivery
SH 550 (Figure 22) is a limited-access tollway
that extends from the northern to the eastern
edge of Brownsville in South Texas. Phase I of
this project will be the construction of a tollway
that extends from Paredes Line Road to
FM 1847, a length of 1.9 miles. Phase II extends
from FM 3248 to SH 48. Phase III extends from
US 77/US 83 to SH 48, a length of 10.0 miles.
Construction on this toll road took place through
the design-bid-build process.
Financing
This project has been financed through revenue
bonds and a grant from the ARRA. Project costs
were approximately $10 million for Phase I and
$34 million for Phase II. Costs for Phase III
were not available.
Phase I consists of new 2×2 lanes of
expressway. Design plans call for a wide median
between frontage roads built by TxDOT with tax
monies. Access, egress, and turns are done via
slip lanes between the tolled main lanes and the
frontage roads.
Project Timeline
2011: Phase I opens to traffic.
2013: Phase II opens to traffic.
2014: Phase III opens to traffic.
Figure 22. SH 550 Map.
65
Grand Parkway Transportation Corporation
GPTC is a non-profit Texas corporation created by the Texas Transportation Commission to
finance certain segments of SH 99, the Grand Parkway (Figure 23). In 2013, GPTC financed
Segments D (the portion within Harris County), E, F-1, F-2, and G of SH 99, which comprise the
Grand Parkway System. Segment E and the portion of Segment D within Harris County opened
to traffic in December 2013. Segments F-1, F-2, and G are under construction and are expected
to open to traffic in late 2015.
Segment I-2A, already open to traffic, is currently not part of the system and is owned and
operated by TxDOT. Additionally, the portion of Segment D within Fort Bend County is open to
traffic and is owned and operated by the Fort Bend County Toll Road Authority.
Figure 23. Grand Parkway Facility Map.
One portion of the Grand Parkway System is profiled in this report—SH 99 Segment E.
66
Governance
SH 99 Segment E
The tollway is developed and operated by the
Grand Parkway Transportation Corporation. Toll
transaction back-office services are provided by
TxDOT.
Location
SH 99 (Figure 24), also known as the Grand
Parkway, is an 11-segment highway that runs
through seven counties surrounding the Houston
metropolitan area. Segment E is on the west side
of the project, extending from north of I-10 to
US 290.
Project Delivery
Segment E is being constructed pursuant to four
different design-bid-build contracts.
Financing
Development of the Grand Parkway began in the
1980s, and the first leg of the highway was
opened to traffic in mid-1994. Segment E of the
highway was opened on December 21, 2013,
and is a designated toll road. It provides a fourlane direct link between Katy and Cypress. The
segment extends 14.4 miles.
Segment E was developed as a part of a larger
$2.9 billion financing by GPTC, which also
encompassed the portion of Segment D within
Harris County and Segments F-1, F-2, and G.
Financing elements included TIFIA, toll revenue
bonds, and a toll equity loan agreement with
TxDOT.
Project Timeline
Segment E opened December 2013.
Information is not available due to limited
operating history.
Figure 24. SH 99 Segment E Map.
67
Fort Bend County Toll Road Authority
In 1996, the Fort Bend County Commissioners Court and TxDOT created the Fort Bend County
Toll Road Authority to provide Fort Bend County with needed transportation development. In
2004, FBCTRA opened its first toll road, the Fort Bend Parkway. The authority is governed by a
five-member board that is appointed by the Fort Bend County Commissioners Court from
members of the local community (42). A system map of FBCTRA is provided in Figure 25.
Source: FBCTRA.
Figure 25. Fort Bend County Toll Road Authority System Map.
One FBCTRA toll facility was profiled for this report—Fort Bend Parkway.13 This facility, like
the Westpark Tollway, has a segment in Harris County, which is owned and operated by
HCTRA.
13
For more information on the Westpark Tollway, a facility co-owned and operated by FBCTRA and HCTRA, see
the Westpark Tollway facility profile presented earlier in this report.
68
Governance
Fort Bend Parkway
The Fort Bend Parkway is operated by
FBCTRA.
Location
The Fort Bend County Toll Road Authority
operates the approximately 8.2 miles of the Fort
Bend Parkway (Figure 26) beginning at the Fort
Bend/Harris County line just south of Beltway 8
to Sienna Parkway.
Project Delivery
Construction on the Fort Bend County Toll
Road was through the design-bid-build process.
Financing
This project was financed through revenue
bonds issued in 2012.
The Fort Bend Parkway is a four-lane facility,
with two lanes in each direction. Currently there
are two main lane plazas. The first is between
FM 2234/McHard Road and Fondren; the
second is between Sienna Parkway and SH 6.
There are also entrance and exit ramp plazas at
McHard Road and at Lake Olympia Boulevard.
Project Timeline
2004: FBCTRA opens its first toll road to the
traveling public. On August 31, 2004, the Fort
Bend Parkway from SH 6 to Beltway 8 opens.
2013: FBCTRA begins construction of
Segment B-1 of the Fort Bend Parkway
connecting Sienna Parkway and SH 6.
2014: Fort Bend Parkway Segment B-1 opens to
traffic extension.
Fiscal
Year
2009
2010
2011
2012
2013
Figure 26. Fort Bend Parkway Map.
69
Total
Transactions
(Million)
3.3
3.3
3.1
3.2
3.5
Total
Revenue
($ Million)
$1.6
$1.4
$1.5
$1.6
$1.7
Revenues and Expenses by Toll Agency
Forecasted revenues and expenses were obtained for the following toll authorities: TxDOT,
NTTA, HCTRA, and CTRMA.
TxDOT-Owned Toll Facilities
TxDOT toll facilities consist of CTTS, Camino Colombia (SH 255), and SH 99 Segment I-2A.
CTTS consists of Loop 1 North, SH 130 Segments 1–4, SH 45 North, and SH 45 Southeast.
Millions
Figure 27 charts estimated CTTS revenues and expenses obtained from the official statement
dated November 15, 2012 (43). Estimated revenues range from $145 million in 2015 to
$490 million in 2035, while toll operation and maintenance costs range from $47 million to
nearly $94 million.
$600
Reserve Maintenance
Operations & Maintenance
$500
Debt
TxDOT Revenue Forecast
$400
$300
$200
$100
2035
2034
2033
2032
2031
2030
2029
2028
2027
2026
2025
2024
2023
2022
2021
2020
2019
2018
2017
2016
2015
$0
Figure 27. Estimated CTTS Revenues and Expenses.
Camino Colombia (SH 255) was purchased by TxDOT in 2004 after the facility was foreclosed
upon and auctioned off earlier the same year. TxDOT’s Toll Operation Division provided
revenue and operational expense projections for Camino Colombia (SH 255) for the years 2015
through 2017. An average revenue per transaction of $3.27 was used for revenue projections, and
historic transactions were projected using an annual 5 percent growth rate. Figure 28 forecasts
the revenues and operational expenses out to 2035. No maintenance expenses are included
70
Millions
because maintenance is covered through TxDOT’s routine maintenance budget. Estimated
revenues range from $1.3 million in 2015 to $3.5 million in 2035, while operating expenses
range from $264,000 to $550,000.
$4.0
Operating Cost
Toll Revenue Forecast
$3.5
$3.0
$2.5
$2.0
$1.5
$1.0
$0.5
2035
2034
2033
2032
2031
2030
2029
2028
2027
2026
2025
2024
2023
2022
2021
2020
2019
2018
2017
2016
2015
$0.0
Figure 28. Estimated Camino Colombia Revenues and Expenses.
NTTA-Owned Toll Facilities
NTTA is one of the two largest toll systems in the state in terms of revenues and expenses. The
NTTA System consists of the DNT, PGBT including the Eastern Extension, SRT, Mountain
Creek Lake Bridge, Addison Airport Toll Tunnel, and Lewisville Lake Toll Bridge. Projected
revenues and obligations were provided by NTTA and are shown in Figure 29. Principal and
interest include First and Second Tier Bonds, CIF Subordinate Bonds, and an ISTEA loan.
Estimated revenues range from $585 million in 2015 to $1.5 billion in 2035, while expenses
range from $557 million to nearly $1.1 billion.
71
Millions
$1,800
Reserve Maintenance
$1,600
Debt
NTTA Revenue Forecast
$1,400
$1,200
$1,000
$800
$600
$400
$200
2035
2034
2033
2032
2031
2030
2029
2028
2027
2026
2025
2024
2023
2022
2021
2020
2019
2018
2017
2016
2015
$0
Figure 29. Estimated NTTA Revenues and Expenses.
HCTRA-Owned Toll Facilities
HCTRA is also one of the largest toll systems in the state in terms of revenues and expenses.
HCTRA consists of the Hardy Toll Road, Sam Houston Tollway, Sam Houston Ship Channel
Bridge, Westpark Tollway, Spur 90A Tollway (Fort Bend Parkway Extension), and Katy
Managed Lanes. Projected revenues and expenses were provided by HCTRA and are shown in
Figure 30. The projections assume an average annual growth rate of 4 percent for revenues and
6 percent for operations and maintenance. Estimated revenues range from $668 million in 2015
to about $1.4 billion in 2035, while expenses range from $590 million to nearly $950 million.
72
Millions
$1,600
$1,400
Debt
HCTRA Revenue Forecast
$1,200
$1,000
$800
$600
$400
$200
2035
2034
2033
2032
2031
2030
2029
2028
2027
2026
2025
2024
2023
2022
2021
2020
2019
2018
2017
2016
2015
$0
Figure 30. Estimated HCTRA Revenues and Expenses.
CTRMA-Owned Toll Facilities
CTRMA encompasses two toll facilities: 183A and Manor Expressway. Revenues and expenses
were obtained from the official statement dated April 23, 2013 (44). Figure 31 forecasts the
revenues and expenses out to 2035. Estimated revenues range from $57 million in 2015 to
$228 million in 2035, while expenses range from nearly $50 million to $91 million.
73
Anticipated Renewal & Replacement Expense
Non-system Administrative
$200
Debt
CTRMA Revenue Forecast
$150
$100
$50
Figure 31. Estimated CTRMA Revenues and Expenses.
74
2035
2034
2033
2032
2031
2030
2029
2028
2027
2026
2025
2024
2023
2022
2021
2020
2019
2018
2017
2016
$0
2015
Millions
$250
Toll Road Impacts on Urban Mobility
As has already been well established in previous sections of this analysis, toll roads in Texas
have played an important role in funding transportation capacity improvements in the large urban
areas of Texas.
Using information highlighted in the previous section of this report, researchers developed
scenarios where future toll revenues could be leveraged to finance other transportation
improvements in Texas. This work included analyzing toll revenue leveraging strategies in Texas
and other states.
This analysis focuses on the impact of toll roads on urban mobility. For the urban areas in Texas
where toll roads are located, researchers assessed the overall impacts the tolled facilities have
had on the region’s mobility. Much of this effort was on modeling these impacts, and it focused
on capturing how travel has changed due to the existence of a toll road. Researchers used
mobility measures including traffic volumes, VMT, and indices of congestion and delay. No
effort was made to identify or assess any economic impacts, so none are included. Only
congestion impacts were calculated.
Methodology
The general methodology used to calculate the toll roads’ impacts on mobility is the same
methodology used to estimate delay for TxDOT’s Texas 100 Congested Roadways (45). Toll
road volumes were allocated to roads that are logical, parallel routes for the toll roads. In only
the most obvious of cases, such as a diagonal toll road with no parallel roads, was volume
assigned to non-parallel roads.
Volumes were allocated to roads based on proximity to the toll road alignment and according to
2012 volumes on the road. Close, heavily traveled roads received more traffic than distant,
lightly traveled roads. VMT was maintained relatively constant, although some changes are
likely in an actual “no toll road” scenario. Once the toll road traffic was moved to other
roadways, the traffic densities on these roadways were recalculated to determine how much
speeds would deteriorate throughout the day due to higher traffic volumes and higher traffic
densities based on an equation that links traffic density to travel speed.
This is an estimate of a scenario that is not likely to occur. The volumes on some toll road
segments are very high because they serve large employment centers and developments that
would not likely have been developed in those locations given the existence of only surface
street capacity in those areas. The existence of the toll roads has contributed to the mobility of
the region and allowed growth to occur. If that roadway capacity was not there, the demand
would not have occurred. It is possible that not only would the traffic have spread to the
surrounding roadway network, which is what is seen here, but also moved to other parts of the
urban area. The results shown are the best estimate of an unlikely situation given the
complexities involved.
75
Results
This methodology was employed for the Austin region, the Dallas-Fort Worth region, and the
Houston region. The traffic volumes on toll facilities were diverted to non-tolled facilities to
ascertain the impact of not having the toll road capacity. The VMT numbers reported in this
section include all counties for which a toll road exists in that region and are 2012 data. The
results of this analysis are described by urban area and are reported in terms of VMT, hours of
delay, and cost of delay.
Austin
The toll road facilities in the Austin area included in this analysis are Loop 1 North, SH 130,
SH 45, and US 183A. The daily VMT in the region for 2012 was 38.3 million. Diverting traffic
volume off the toll roads resulted in moving 800,000 vehicle miles onto existing facilities, or
2.1 percent of the daily VMT. This resulted in 3.2 million additional person hours of delay per
year, an 8.2 percent increase. The additional annual delay cost was about $70 million.
Dallas-Fort Worth
The toll road facilities in the Dallas-Fort Worth region included in this analysis are the Dallas
North Tollway, the President George Bush Turnpike/SH 161, the Sam Rayburn Tollway, and the
International Parkway (not part of the NTTA System). The daily VMT in the region for 2012
was 137.2 million. Diverting traffic volume off the toll roads resulted in moving 3.4 million
vehicle miles onto existing facilities, or 2.5 percent of the daily VMT. This resulted in
10.5 million additional person hours of delay per year, a 5.3 percent increase. The additional
annual delay cost was approximately $231 million.
Houston
The toll road facilities in the Houston region included in this analysis are the Hardy Toll Road,
the Westpark Tollway, the Sam Houston Tollway/Beltway 8, and the Fort Bend Parkway. The
daily VMT in the region for 2012 was 124.4 million. Diverting traffic volume off the toll roads
resulted in moving 5.9 million vehicle miles onto existing facilities, or 4.7 percent of the daily
VMT. This resulted in 24.9 million additional person hours of delay per year, a 17.2 percent
increase. The additional annual delay cost was about $549 million.
Summary of Analysis
Table 31 shows the daily VMT in each of the three regions as well as the diverted VMT that was
moved from the toll facilities to the non-tolled roadway network. The percent diverted is also
shown. The number of toll road miles included in the analysis is shown to illustrate the
magnitude of the toll road network in each urban area. This is an approximate number of toll
road centerline miles from which traffic was diverted for this analysis.
76
Table 31. Daily VMT and Diverted VMT by Urban Area.
Diverted
Toll Road
Daily VMT
Percent
Urban Area
VMT
Centerline
(Millions)
Diverted
(Millions)
Miles*
Austin
38.3
0.8
2.1
75
Dallas-Fort Worth
137.2
3.4
2.5
120
Houston
124.4
5.9
4.7
130
* The centerline miles are the approximate mileages of the toll roads used in this analysis.
Source: TTI.
Table 32 shows the regional mobility impacts in terms of the increase in annual delay (person
hours) and the increase in annual congestion cost in 2012 dollars. The percent change in delay is
also shown. The percent change in annual congestion cost is the same as the change in delay
because the two are linked.
The greatest impact is in the Houston region where the diverted VMT is the largest and the cost
of delay in both time and money is the most significant. This is not unexpected but rather
indicative of the size of the Houston region’s toll road network and the availability of suitable
roadway options to divert the traffic compared to the other two regions.
Table 32. Regional Mobility Impacts of Diverted Toll Road Traffic.
Increase in Annual
Increase in
Percent Change
Urban Area
Delay (Million
Annual Cost
in Annual Delay
Person Hours)
(Millions)
Austin
3.2
8.2
$70.0
Dallas-Fort Worth
10.5
5.3
$230.9
Houston
24.9
17.2
$548.5
Source: TTI.
Table 33 shows these impacts by functional class. For each of the three regions, the percent
increase in VMT and the percent increase in delay are shown. This illustrates the impacts of the
toll traffic diversions on the roadway network as a whole. The decreases shown for other
freeways represent the traffic diverted from the tollways. There is not necessarily a
corresponding decrease in delay for the same classification because the diverted traffic was, in
some cases, diverted onto other highly congested freeways, thus increasing the delay on those
facilities.
77
Table 33.Toll Road Diversion Impacts by Functional Class.
Austin
Dallas-Fort Worth
Houston
Percent
Percent
Percent
Percent
Percent
Percent
Functional Class
Change in
Change
Change
Change
Change
Change
VMT
in Delay
in VMT
in Delay
in VMT
in Delay
Interstates
7.6
22.7
1.1
1.1
6.8
30.4
Other Freeways
−12.7
0.5
−11.6
−7.6
−21.7
4.7
Major Arterials
5.7
5.7
9.5
11.6
7.6
17.8
Minor Arterials
5.0
1.6
13.1
13.8
13.4
16.7
Source: TTI.
Speed (mph)
While this analysis focused on daily and annual impacts, it did reveal both an increase and
widening of peak-period impacts. The peak periods not only worsened in terms of these mobility
impact measures, but they also widened or spread, meaning the peak periods were lengthened
because the existing VMT was placed on fewer roadways. This is shown generically in Figure 32
in terms of speed and time of day. The speeds are directly related to congestion.
Midnight
2
4
6
8
10
Noon
2
4
6
8
10
Hour of Day
Existing
No-Toll
Source: TTI.
Figure 32. Mobility Impacts of Removing Toll Road Capacity.
This analysis represents an attempt to measure the mobility impacts of not having the existing
toll road network in Texas’ large urban areas. While it is not a likely occurrence, this represents a
best estimate of such a scenario. Doing so creates many challenges and assumptions on where
the traffic would go and whether any of the demand in the vicinity of the toll roads would be
where it is today to begin with if the toll road capacity did not exist. It is clear, however, that the
absence of the toll road capacity would create an adverse impact on the mobility in each of these
regions by increasing both hours of delay and costs associated with congestion.
78
References
1 Legislative Reference Library of Texas.
http://www.lrl.state.tx.us/legis/BillSearch/billdetails.cfm?legSession=750&billTypeDetail=SB&billNumberDetail=370
2
http://www.capitol.state.tx.us/Search/DocViewer.aspx?ID=77RSB003424A&QueryText=%22S
B+342%22&DocType=A
3 http://www.capitol.state.tx.us/BillLookup/history.aspx?LegSess=78R&Bill=SB903
4 http://www.capitol.state.tx.us/BillLookup/BillSummary.aspx?LegSess=78R&Bill=HB3184
5 “Summary: HB 3588.” Texas Legislature Online. State of Texas. 26 Dec. 2013
<http://www.capitol.state.tx.us/BillLookup/BillSummary.aspx?LegSess=78R>.
6 http://www.capitol.state.tx.us/tlodocs/78R/analysis/pdf/SB00716F.pdf#navpanes=0
7 http://www.capitol.state.tx.us/tlodocs/78R/analysis/pdf/SB01464F.pdf#navpanes=0
8 http://www.capitol.state.tx.us/BillLookup/Text.aspx?LegSess=79R&Bill=SB129#
9 http://www.capitol.state.tx.us/BillLookup/Text.aspx?LegSess=79R&Bill=HB2139#
14 http://www.capitol.state.tx.us/BillLookup/BillSummary.aspx?LegSess=82R&Bill=HB1201
17 http://www.capitol.state.tx.us/BillLookup/BillSummary.aspx?LegSess=82R&Bill=SB246
20 http://www.capitol.state.tx.us/BillLookup/Text.aspx?LegSess=83R&Bill=HB341
79
24 Beaty, C., M. Burris, T. Geiselbrecht, R. Baker, and N. Norboge. “Examining TxDOTOperated Toll Roads and Understanding the Impact of Specific Tolling Events.” FHWA/TX14/0-6737-2, Texas A&M Transportation Institute, The Texas A&M University System, College
Station, Texas. 2014.
25 http://kxan.com/2014/05/16/new-expressways-opens-for-traffic-on-saturday/
26 USDOT Federal Highway Administration:
http://www.fhwa.dot.gov/policyinformation/tollpage/t1part4.cfm
27
https://www.ntta.org/whatwedo/fin_invest_info/financial_Info/Documents/2013_FINAL_BUDG
ET_BOOK_11262012_v10.pdf
28 NTTA. 2012 Comprehensive Annual Financial Report.
https://www.ntta.org/whatwedo/fin_invest_info/financial_Info/Documents/NTTA_System_2
012_Comprehensive_Annual_Financial_Report.pdf
29 North Texas Tollway Authority. NTTA System Comprehensive Annual Financial Reports for
FY 2005-2013. NTTA Special Projects Financials for FY 2011-2013.
http://www.txdot.gov/business/investors/ctts-reports.html
30https://www.hctra.org/about_reports/?CSRT=17014504008545264670
31 Harris County Toll Road Authority. Basic Financial Statements for FY 2004-2013.
https://www.hctra.org/about_reports/
32 Texas S.B. 370, 75th Leg. Reg. Sess., Chapter 361, Subchapter H on transfers and Section
7.26 creating North Texas Tollway Authority, (1997).
33 TxDOT. CTTS Reports. https://www.txdot.gov/business/investors/ctts-reports.html
34 FHWA. Project Profiles: Central Texas Turnpike System.
http://www.fhwa.dot.gov/ipd/project_profiles/tx_central_turnpike.htm
35 Rider 44 Report.
36 Texas Department of Transportation, Central Texas Turnpike System Actual Traffic and
Revenue Reports for FY 2009-2013. http://www.txdot.gov/business/investors/ctts-reports.html
37
http://www.netrma.org/sites/default/files/files/FY%202013%20NET%20RMA%20Strategic%20
Plan%2011-2013.pdf
80
38 Texas Transportation Commission, July 26 Commission Meeting Minutes. Item No. 110996
TTA. http://ftp.dot.state.tx.us/pub/txdot-info/adm/2007/minutes/jul26.pdf
39 http://www.mobilityauthority.com/about/
40
http://www.mobilityauthority.com/monkeewrench/files/resources/Mobility_Authority_2013_An
nual_Report_-_.pdf
41 Texas Transportation Commission Minute Proceedings, September 30, 2004.
42 http://www.fbctra.com/about-fbctra-general-business.html
43 Texas Department of Transportation, Official Statement Dated November 15, 2012. Retrieved
from Electronic Municipal Market Access (EMMA) on July 15, 2014.
http://emma.msrb.org/EP714402-EP555014-EP956159.pdf.
44 Central Texas Regional Mobility Authority, Official Statement Dated April 23, 2013.
Retrieved from Electronic Municipal Market Access (EMMA) on July 15, 2014.
http://emma.msrb.org/EA518673-EA404490-EA801462.pdf.
45 http://www.fbctra.com/about-fbctra-general-business.html
81

Texas Toll Road Primer Final Report

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