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OCR for page 131
Section 6 - Financial Strategies
BIBLIOGRAPHIC REFERENCES FROM THE NCHRP 8-32 INTERACTIVE DATABASE
CONCERNING INNOVATIVE FINANCING METHODS
6-1. Alternatives to Motor Fuel Taxes for
Financing Surface Transportation Improvements.
Rena, Arlee (Cambridge Systematics, Washington,
DC) and Joseph R. Stowers (Sydec, Inc., Reston, VA).,
In Progress; NCHRP Project 20-24(7~.
Current revenue sources for providing, maintaining,
and operating an effective surface transportation
system are inadequate to meet present and projected
needs. Petro1eum-based motor fuel taxes, the
mainstay of the traditional user~harge approach to
highway funding in the United States, have not kept
pace with either needs or inflation. However, until
recent times, the taxation of motor fuels had been a
reliable, economical, and comparatively popular
method. Furthermore, the federal government and
many state governments deposit these revenues in
dedicated accounts embracing a user-fee approach to
transportation improvements and producing a reliable
flow of funds that facilitated long-range planning and
programming. Now, a number of factors are reducing
the effectiveness of motor fuel taxes as the primary
financing mechanism for highway and other surface
transportation improvements. The objective of this
research is to identify and evaluate alternatives to the
traditional motor fuel tax as a principal method for
financing the surface transportation system.
Alternatives will need to be evaluated within the context
of a range of possible, future scenarios. The research
vail also consider the role of the user-pay principle in
financing the surface transportation system and give
adequate attention to financing mechanisms at all levels
of government.
6-2. Beyond Wish Lists: Financial Planning for
Transportation.
Lockwood, S. C. and G. G. Williams. Transportation
Planning, Programming, and Finance: Proceedings of
a Conference, Jul 19 1992, Seattle, Washington.
Proceedings Published in Transportation Research
Circular 406; Apr 1993: Pp 43~9.
This conference resource paper begins by citing the
specific financial planning requirements of the
Intermodal Surface Transportation Efficiency Act of
1991 (ISTEA). It suggests that the implications of
these requirements must be understood within the
broader context of transportation and environmental
planning and programming as established by both
ISTEA and the Clean Air Act Amendments of 1990
(COCA), including the requirements for management
systems and conformity determination. The need for
concurrent land use and transportation planning to
allow for financial assessments is also considered. The
131
paper then identifies the technical and policy ISSUQS that
must be resolved as well as challenges assoc ated with
implementing a financial planning process. The paper
concludes with an identification of the likely implications
of financial planning for transportation planning and
programming.
6-3. Can the Region Finance the Long-Range
Transportation Plan?
Miller, G. K. Region. Dec 1993, 34~2), Pp 8-10.
During the next eighteen years, the Washington region
will be short about $538 million a year in transportation
funds. This includes money that is needed to maintain
our current system of highways, bridges, bicycle trails,
and Metrorail and bus services, as well as funds for
transportation faalities planned to accommodate future
growth. This is the conclusion of a new study of
transportation finances in the Washington area recently
completed by Price Waterhouse. The study projects
that between 1993 and 201 0 the region vail need to
spend $2.7 billion each year to operate and maintain
today's transportation system and to build the new
faalities that are planned. During the past five years,
state and local governments have spent about $2 billion
per year to operate, maintain, and expand the region's
transportation faalities.
6-4. A Case Study of Financing Year 2010
Transportation Infrastructure Needs.
Grover, Albert L.; N. Murthy, and Chalap K. Sadam.
(Albert Grover & Associates, Fullerton, CA). Submitted
to Transportation Planning Methods Applications
Conference, Apr 17 1995, Seattle, Washington.
6-5. Commuting, Congestion, and Pollution: The
Employer-Paid Parking Connection.
Shoup, Donald C. and Richard W. Wilson. Submitted
to the Congestion Pricing Symposium, Jun 10 1992,
Washington, DC.
6-6. Congestion Pricing: Issues and
Opportunities.
DeCorla-Souza, P. 4th National Conference on
Transportation Planning Methods Applications, A
Compendium of Papers, Volumes I and 11, Paris, Jerry
M., Editor; May 3 1993, Daytona Beach, Florida
Metropolitan Planning Organizations (MPOs)
considering the adoption of a congestion pricing policy
need to clearly understand several aspects of
congestion pricing: (1) What is the rationale for
congestion pricing? How does it differ from the
traditional fuel tax? (2) How effective is congestion
OCR for page 132
Project Bibliography - NCHRP 8-32 (1 )
pricing with respect to the MPOs' objectives? (3) What
are the critical issues and concerns which must be
addressed before implementation can proceed? (4)
What types of congestion pricing applications are
reasonable in the short term and in the long term? This
paper addresses these questions and offers some
thoughts on how MPOs can proceed towards
implementing this strategy. An MPO may seek to use
congestion pricing as a means to achieve any or all of
the following objectives: (1) manage congestion; (2)
improve air quality; (3) secure adequate funding for
transportation investments and services. The paper
demonstrates a sketch planning procedure to analyze a
congested urban area of about 1.5 million population in
order to estimate effectiveness of congestion pricing
with respect to the above objectives. The major issues
ninth respect to implementation may be categorized as
either technical or political. The paper discusses the
major technical issues -- technological compatibility
among geographic areas and modes, enforcement,
privacy, price determination, and estimation of the
impacts of alternatives. Use of the conventional
four-step travel demand forecasting models to estimate
impacts is demonstrated with a dataset for a small
hypothetical urban area. The paper also discusses the
political issues, i.e., public acceptance and
interjurisdictional cooperation, and a three pronged
strategy to help develop public support based on use of
revenues from tolls. Congestion pnang can be applied
at three successively larger scales: on a facility, within
an area or sub-area of the region, and regionwide. The
paper discusses how urban areas could begin to test
the impacts of differential pricing on existing and new
faclities. Also discussed is area pricing, involving
pricing within a small geographic area such as a
Central Business District or a major suburban activity
center, which may be introduced through licensing
schemes, cordon toils or parking pricing. The
prospects for regional scale application are projected.
6-7. Congestion Pricing: New Life for an Old
Idea7
Small, Kenneth A. Access. Spring 1993, No. 2, Pp 11.
6-8. Current Roadway Pricing Technology Issues.
Rooney, Steven B. (SR Consultants, Inc., Newport
Beach, CA). Submitted to the Congestion Pricing
Symposium, Jun 10 1992, Washington, DC.
6-9. Eight Ways to Finance Transit. A
Policymakers Guide.
National Conference of State Legislatures.
(Washington, DC). Jan 1994.
This guide for state legislators and their staffs outlines
the unique methods that are used to finance
transportation projects, including the use of resources
from venous povate-sector sources. The guide is not
intended to be a comprehensive analysis of all methods
of financing transportation, but focuses instead on
sources of funding that are normally found in annual
reports of transportation authorities under the heading
of 'Other Revenue'. The eight methods outlined are:
Negotiated investments; Spec al benefit assessment
distncts; Cross-border leasing; Advertising and
concessions; Contributions, donations, exchanges;
Air/land nghts; Certificates of participation; and Joint
development and joint ventures.
6-10. Emerging Agency Roles In Financing
Highway Improvements in Broward County,
Florida.
Wilson, B. . Transportation Research Record 1359.
1992, Pp 26-35.
A massive highway construction program has taken
place in Broward County, Flonda, in the 11 fiscal years
spanning the 1 980s. Changing agency responsibility
for this program is described. Excluding expenditures
for preliminary engineering and right-of-way, about $1
billion was spent to construct nearly 1,000 lane-mi of
major highway improvements in the urbanized area of
the county. This improvement program was the
product of many factors, including the accumulated
travel demand of an enormous population boom that
started after World War 11. The hypothesis of a national
reversal of federal and state-local roles in financing
transportation system improvements during the 1980s
is tested in the unique setting of Broward County. A
new set of highway players emerged in Broward during
the 1980s, including municipal government, the
Florida's Turnpike, the Broward County Expressway
Authority, and the Port Everglades Authority. These
groups joined the Florida Department of
Transportation, Broward County, and developers active
throughout the 1 980s to undertake the construction
program described. Revenues from local option gas
taxes and tolls helped fund the emerging agency
projects. Although Broward County remains a
co-leader in lane-mile production with the Interstate
program, factors exist that tend to counteract a
projected role reversal with the federal government.
These factors include the new Florida growth
management requirements, which demand more
county attention to capacity deficiencies in local road
systems, leaving fewer resources for addressing
problems on higher level systems. Also there is
escalating demand on local transportation revenue to
support transit operating costs because of the
phaseout of federal transit aids. A ray of hope is the
recent emergence of shared-responsibility jointly
funded) projects between the old and new sets of
players in Broward highway construction. This activity
might be viewed as support for more of a team
approach to urban highway improvements compared
with th expected federal downshifting of responsibility.
}32
OCR for page 133
Section 6 - Financiai Strategies
Florida.
6-11. Evaluation of Financing Alternatives for
Texas Transportation.
Isser, Steven; Nicole Ballouz, and William F.
McFarland. (Texas A&M University System, College
Station, TX). Springfield, VA. National Technical
Information SQrVICe, NOV 1992, Research Report
1 277-1 F.
Texas.
6-12. Evolution or Revolution In Federal Toll
Highway Policy? Issues and State Views for the
1 9908.
Rao, K.; G. Gittings, and S. Sriraman. Pumas of the
Transportation Research Forum. 1992,32~2), Pp
379-389.
Federal policy on toll-financed highway improvements
was fundamentally transformed by the Intermodal
Surface Transportation Efficiency Act of 1991. While
historic Federal policy generally prohibited Federal aid
for toll projects, the Act permits states and private
entities to combine Federal highway trust funds and toll
financing for funding highway infrastructure
improvements. This paper describes several policy
issues and options regarding Federal toll road policy
and presents the results of a survey of the chief
administrative officers of the state Departments of
Transportation (DOTS) regarding these options. The
findings suggest that state DOTs strongly favor broad
flexibility in Federal toll road policy. In addition, the
findings suggest that certain clusters of states are more
likely to experiment with alternative forms of financing
innovation under a revised Federal policy than other
state clusters.
6-13. Financial Management and Legislative
Briefing Package.
Minnesota Department of Transportation. Jan 1995.
Minnesota.
6-t4. Financially Constraining Your
Transportation Plan.
Ziegler, Brian. (Washington State Department of
Transportation). Presented to Transportation Planning
Methods Applications Conference, Apr 171995,
Seattle, Washington.
Washington State's Growth Management Act (C3MA3
has significantly changed land use and transportation
planning. Counties and cities planning under the
Growth Management Act are required not only to link
their land use and transportation elements, and to
preserve critical resource areas, but to also develop a
capital facilities element that supports adopted land use
and transportation standards. In addition, this capital
facilities element must identify the financial resources
reasonably available to construct the facilities needed to
achieve the standards. The implications of not
financially balancing this capital facilities plan can be
severe and counter productive to meeting the
objectives of growth management planning. Given the
variety of revenue sources available to local
governments and the numerous competing needs, it is
difficult to predict with certainty how much revenue from
each SOUrCQ will be available for capital facilities in the
future. In particular, a financially balanced 20 year
capital facilities plan requires some predictive revenue
approach. State agencies in Washington are required
to comply with local comprehensive plans. The
Washington State Department of Transportation
(WSDOT), the state's largest transportation developer,
owns and operates 7,000 miles of highways throughout
all 39 counties in the state. Transportation investments
by WS DOT significantly impact local governments'
ability to meet the transportation standards they have
adopted under GMA. Therefore, it is in the state's best
interest to develop a financially constrained 20 year
"capital facilities" plan for transportation. This will
provide some I9VQI of certainty to local governments as
they implement their own transportation investments.
However, WS DOT receives most of its revenues from
the motor fuel tax, a tax on a fuel that may decline in
importance in 20 years. The state needs a revenue
projection based on a more reliable predictive indicator.
The Intermodal Surface Transportation Efficiency Act of
1991 (ISTA) requires states to develop a statewide,
multimodal transportation plan. ISTEA also requires
states to identify the financial resources necessary to
implement the plan. Since the plan will be multimodal,
it will also affect multiple revenue sources. This is
another reason to identify and project a more reliable
revenue indicator - one that reflects the public's ability
and willingness to pay for all transportation services.
The above issues point out the need to define and
project a long term indicator of transportation revenues.
WSDOT has developed an approach to financially
constrain the State Owned Component of the
Statewide Multimodal Transportation Plan. This paper
describes the historical nature of the proposed indicator
as well as the process for using this indicator to predict
available revenues.
Washi ngton.
6-15. Guidance for State Implementation of ISTEA
Toll Provisions in Creating Public-PrIvate
Partnerships.
Price Waterhouse and Company and Federal Highway
Administration. (Washington, DC). Nov 3 1993.
This document is intended to serve as a guide for
States seeking to make legislative changes to create a
more hospitable environment for public-pnvate toll
partnerships. Section 1, Executive Summary, provides
an overview of the entire document. Section 11,
Public-Private Partnerships in Transportation,
133
OCR for page 134
Project Bibliography - NCHRP 8-32 (1 )
discusses the advantages of direct user fees and
private sector participation, the partnership and toll
provisions of the 1991 Intermodal Surface
Transportation Efficiency Act (ISTEA), and several
specific models for structuring the public-private
relationship. Section 111, Preliminary State Action Plan,
discusses specific actions that can be taken while
working on developing legislation. Section IV,
Components of a Model Ordinance, discusses specific
areas to be addressed in enabling legislation and
provides examples that may be helpful to writers of new
legislation. Section V, Implementation of Public-Private
Partnership Agreements, discusses the steps involved
in implementation. Section Vl is a Glossary of Terms
for the new concepts introduced in this document.
finally, Section Vll, Summary of Sate Public-Private
Highway Legislation, is a compilation of existing State
public-private highway legislation.
6-16. Introducing Congestion Pricing on a New
Toll Road.
Poole, Robert W., Jr. Los Angeles, CA. Reason
Foundation, Feb 1992.
Califomia.
6-17. Investigating Toll Roads in California.
Fielding, Gordon J. Access. Spring 1993, No. 2, Pp
22-24.
In 1987 the California legislature permitted a
joint-powers authority to construct toll roads in Orange
County and connect them to the state highway system.
Three years later, the legislature passed the AB680 bill,
authorizing California State Department of
Transportation (Caltrans) to test the feasibility of
building four privately funded transportation faalities.
More recent encouragement has come from the 1991
Intermodal Surface Transportation Efficiency Act
(ISTEA3, which abolished restraints against tolls on
interstate facilities and allowed federal agencies to
support toll roads and to participate in their financing.
Orange County, just south of Los Angeles, was ready
for these changes. The two roads proposed by private
firms are: Route 57 Extension, an 11-mile road that will
be constructed as an elevated (viaduct) highway down
the middle of the seasonal Santa Ana River, and State
Route 91, a 1 0-mile road using the median of an
existing freeway along the Santa Ana Canyon. The two
private proposals will apply congestion pricing both to
reduce Deak-Deriod demand and to increase revenue.
California
6-18. Joint Development of Transit Facilities:
Creative Financing for Tough Economic Times.
Texas Transportat/on Researcher. Winter 1993,
28~4), Pp 4-5.
A Texas Transportation Institute study of joint
development strategies for transit facilities is reported.
The study explored and identified the various joint
development strategies employed by transit agencies
throughout the country, and assessed in detail the
financial benefits of selected joint development projects
on both a national and state basis. The study also
developed a Set of general planning guidelines to assist
transit agendas, service providers, Texas Department
of Transportation, local communities, private sector
businesses and others interested in considering joint
development strategies. Examples of representative
transit-related joint development projects are noted in
locations such as Washington, D.C.; San Diego,
California, Denver, Colorado, etc.
Texas.
6-19. Long Range Transportation and Financial
Planning Process for the Pittsburgh Metropol tan
Region.
Johnson, Keith A. 4th National Conference on
Transportation Planning Methods Applications, A
Compendium of Papers, Volumes I and 11, Fans, Jerry
M., Editor; May 3 1993, Daytona Beach, Flonda.
Because of the long range planning mandates for
Metropolitan Planning Organizations contained in the
Intermodal Surface Transportation Efficiency Act of
1991, the Southwestern Pennsylvania Regional
Planning Commission (SPRPC) has embarked on a
major public/private planning effort for the Pittsburgh
metropolitan region. For this process, SPRPC has
formed an influential advisory board to develop the
comprehensive transportation investment strategy for
the six~ounty Greater Pittsburgh area. The
70-member panel, known as the Regional
Transportation Partnership, includes government,
business, and community leaders from the area.
Operating through a series of committees and task
forces, the Partnership is addressing the key policy and
technical issues which are arising from this strategy.
Under the guidance of this advisory board, SPRPC
staff is developing a series of alternative land use and
transportation scenarios. These scenarios w11 be
evaluated on the basis of mobility, clean air, financial
feasibility and other factors. While none of these
options are considered to be the final plan, it is felt that
by looking at various, distinct options, certain
advantages of each vail appear. These advantages will
then be used to develop a final plan. Each option is
vastly different than others in terms of types of
transportation projects, geographic location and land
usage. The four options being evaluated are: 1) The
Concentrated Growth Option - transportation
investment and land usage is limited to the three major
growth centers of the region; 2) The Valley and
Suburban Renaissance Option - investments are
geared to rebuilding the industrial valley communities
and connecting them to employment centers in the
region; 3) The New Growth Option - this option
134
OCR for page 135
Section 6 - Financial Strategies
emphasizes a continuing development into the rural
areas and stresses new highways; and 4) The
Congestion Management Option - this is a ~no-build"
option where the transportation investment is spent on
reducing and preventing congestion, and where IVHS,
transt, and demand management techniques are
featured. Also part of this process is the development
of a transportation financial plan for the region. The
objectives of this process is to develop a fiscal envelope
that vail give a reasonable picture of how much funding
can be expected for the region, develop innovative
financial techniques to pay for future projects, and
develop a financial plan to implement the long range
plan. A Financial Task Force was created to deal with
these objectives. Members of this task force include
officials from the Pennsylvania Department of
Transportation, the Pennsylvania Turnpike
Commission, the City of Pittsburgh, and local
economists and financial representatives from the
region's banking community.
Pennsylvania.
6-20. Multimodal Transportation Financing at
State Level.
Baske, Lee. (L.B.J. School of Public Affairs ).
Presented to the Annual Meeting of the Transportation
Research Board, Jan 1995.
6-21. ANewinfrastructureParadigm: A Better
Way to Leverage ISTEA.
Giglio, J. M., Jr. and R. J. Marina. Public Works
Financing. Jan 1993, 59, Pp 19-20.
The Intermodal Surface Transportation Efficiency Act
(ISTEA) created many new opportunities for financing
highway and mass transit infrastructure improvements.
The new law provides a new compact among federal,
state and local governments and the private sector to
leverage federal transportation assistance with public
and private sources of capital. The article discusses
ways to accelerate the outlay of ISTEA monies beyond
the traditional use of federal funds as unleveraged
grants, to create mechanisms that reflect the
philosophical basis of ISTEA, and to use financing tools
that are familiar to the capital markets. The use of
leveraged State Revolving Loan Funds are discussed.
A leveraged fund could be capitalized with federal
ISTEA funds and state sources to facilitate a
permanent, self-renewing sorce of capital dedicated to
transportation infrastructure. Studies indicate the
dynamic financing structure can provide project funds
of between 2.5 to 4 times its initial assets.
6-22. An Overview of Highway Privatization.
Interim Report.
Euritt, M. A.; R. Machemehl; R. Harrison, and J. E.
Jarrett. (Texas University, Texas Department of
Transportation, Federal Highway Administration). Feb
135
1994.
The Texas Department of Transportation (TxDOT), like
many state transportation agencies, is faced with limited
resources to address growing transportation problems.
A variety of non-traditional public and private financing
methods are available. Greater private-sector
involvement in the financing, constructing, and
operating of highway infrastructure may be necessary
to assist public agencies in resolving transportation
problems. The California AB680 program and
Virginia's Dulles Toll Road are good examples of
private-sector participation. These experiences are
similar to those used throughout Europe and Japan.
Texas' experience with toll roads has been primarily
through the Texas Turnpike Authority, although nine
private toll road corporations have been authorized.
The future effectiveness of a privatization program in
Texas is contingent on policy directions from the Texas
Transportation Commission and the ability of the private
sector to work with TxDOT in addressing transportation
problems.
Texas.
6-23 Private Toll Roads in America ~ The First
Time Around.
Klein, Daniel B. Access. Spring 1993, No. 2, Pp 17.
6-24. Privatization Program Poises Arizona on
Cutting Edge of U.S. Infrastructure Development.
MSHTO Quarterly Magazine. Jul 19921 71(3), Pp
8-9.
Arizona is hoping to meet its travel needs through
privatization, a public/pnvate partnership. Overseeing
the effort will be the Privatization and Alternative
Financing Office, a new section of the Arizona
Department of Transportation. The projects vail be
proposed by the private sector, and can include
anything from construction of toll freeways to rest
areas. The projects will be selected through 25-page
proposals. ADOT vv 11 contribute assets such as
engineering and design plans, existing structures, and
right-of-way. The state of Arizona will own whatever
facilities are built and will lease them to the private
builder to operate.
Arizona.
6-25. Public and Private Financing Mechanisms.
Bailey, P. S. (International Bridge, Tunnel & Turnpike
Association, Washington, DC). Proceedings of the
60th Annual Meeting of the International Bndge, Tunnel
& Turnpike Association, Oct 24 1992, New Orleans,
Louisiana. Pp 109-114.
The E470 project is neither a "privates toll-road nor is it
run by a state department of transportation. The E470
Public Highway Authority is a political subdivision of the
state of Colorado responsible for the design,
acquisition, construction and operation of the E470 toll
OCR for page 136
Project Bibliography - NCHRP 8-32 (1 )
road. The Authority was originally formed by
intergovernmental agreement in 1985 by the counties
of Arapahoe, Adams and Douglas and the City of
Aurora. In 1987 the Public Highway Authority law was
passed with those entities as the original members.
Since that time, the Town of Parker, City of Thornton,
and City of Brighton have joined the Authority. In 1988,
the voters in the three county area approved a $10
vehicle registration fee by collected to support the
construction of E~70. The current staff includes four
professionals and four support staff with additional
assistance on an as-needed basis from consultants.
Colorado.
6-26. Redefining the Urban Partnership:
Public-Private Toll Financing Provisions of ISTEA
Steckler, S. A. Transportation Research Board Special
Report237. 1993, Pp 128-133.
The Intermodal Surface Transportation Efficiency Act of
1991 (ISTEA) and automatic vehicle identification
technology will share responsibility for the growth of toll
facilities during the next decade. Discussed in this
paper are some of the toll-related provisions of ISTEA
that could greatly influence the way state and local
governments build and finance those facilities and how
they repair and expand roads, bridges, and tunnels.
6-27. Region-Wide Toll Pricing: Impacts on Urban
Mobility, Environmental and Transportation
Financing.
Kane, Anthony R. and Patrick DeCorla-Souza.
Submitted to the Congestion Pricing Symposium, Jun
10 1992, Washington, DC.
Improvements in electronic toll collection technology
along with worsening urban traffic congestion, scarce
resources for transportation financing, and new federal
legislation (ISTEA and the Clean Air Act Amendments)
are beginning to influence the context in which
transportation decisions are made. In the 1 990s, policy
makers in metropolitan areas in the U.S. will be more
Hilling to consider toll pricing polices if planners can
clearly show them the potential of toll pricing to solve
congestion and transportation financing problems while
at the same time providing environmental benefits. In
this paper, we demonstrate, through a hypothetical
case study, the general magnitude of the benefits of a
regionwide toll pricing strategy with respect to urban
mobility, air quality, and transportation funding
availability. This is the type of information planners will
need to develop to "sell" this strategy to
decision-makers. The estimates are based on
macro-level sketch planning analysis using
transportation supply and demand parameters which
are typical of large urban areas in the U.S.
6-28. A Report on the Highway Program Capacity
of State Highway and Transportation Departments.
FFY 199~1996.
American Association of State Highway &
Transportation Officials. (Washington, DC). Dec 7
1992.
This report summarizes the findings of a survey
conducted by the American Association of State
Highway and Transportation Officials (MS HTO) on the
status of the highway programs of the 50 states, the
District of Columbia and Puerto Rico on October 23,
1992. The primary purposes of the survey were to
develop information on: (1) The expectations of the
states on their use of the $18 billion federal-aid highway
funding approved by Congress for FFY 1993, under
the Department of Transportation Appropriations Act,
PL 102-388; (2) The capability of the states to utilize
highway funding at the full funding levels authorized
under the Intermodal Surface Transportation Efficiency
Act for FFY 1994, if such should be approved by
Congress; and (3) The capability of the states to use
additional highway funding in FFY 1993, 1994, 1995
and 1996, if it should become available. The survey
also examined the types of projects for which additional
highway funding might be utilized. Cumulative totals,
not state-by-state data, are provided. The survey did
not attempt to collect data on transit projects, since
such projects in most cases are not administered by
the states. It did request information as to transfers of
highway funds for transit use now being anticipated by
states and vice versa. Such transfers are allowed
under the ISTEA, if certain conditions are satisfied.
6-29. Road Pricing: International Experinece.
Richards, Martin G. (The MVA Consultancy, Surrey,
England). Prepared for U. S. Department of
Transportation Congestion Pricing Symposium, Jun 10
1992, Washington, DC.
6-30. Roundtable Discussion on Federal-Aid Toll
Financing of ESTER
Federal Highway Administration. (Washington, DC).
Jun 2 1 992.
There is a broad recognition of a shortfall in highway
funding--especially in growing areas of the U.S. In
response, the Intermodal Surface Transportation
Efficiency Act (ISTEA) of 1991 introduced new flexibility
into highway finance with provisions which widen the
applicabil ty of tolls on the Federal Aid Highway System
and offer options for States to develop new forms of
public/pnvate partnerships to finance and develop or
reconstruct highways, budges and tunnels. The 29
States with existing toll entities exhibit a wide range of
variation in institutional settings and financial
arrangements. States vary with regard to the types and
number of toll entities and their relationships--legal,
administrative and financial-- with State highway
agencies. While conventional fuel and vehicle
136
OCR for page 137
Section 6 - Financial Strategies
tax-based finance will remain dominant, toll-based
supplementary approaches and tapping private
investment capital are made more attractive by
provisions of IST EA. In addition to the toll and private
loan features, soft match credit provides an additional
incentive to States for consideration of toll options. The
discussion at the roundtable covered a broad range of
topics focussing on the range of institutional
relationships that are evolving around the U.S. and the
potential that ISTEA offers to support mutual
objectives.
6-31. State Highway Funding Methods.
The Road Information Program. (Washington, DC).
Sep 1994.
This report details the conditions of the nation's 3.9
million miles of roads and budges, funding and use of
the system, and travel by the nation's 190 million cars,
trucks and buses and the impact of this travel on air
quality. The report is based on surveys of state
Departments of Transportation and data collected from
the Federal Highway Administration (FHWA), the tJ.S.
Department of Transportation (DOT), and the U.S.
Environmental Protection Agency (EPA). Highlights
from the report are as follows: The total 1992 capital
improvement expenditure for our nation's road and
bridge system was $38.7 billion -- $12.9 billion below
the $51.6 billion per year needed to mainain current
conditions and performance. This underinvestment in
our nation's roads and bridges is further hampered by
the diversion of $14.4 billion in highway user fees (such
as motor fuel and registration taxes) siphoned away
from road and bridge improvements to non-highway
projects. The current backlog of existing road and
bridge needs on major routes (arterials and collectors)
is estimated to be $290 billion. More than half -- 55.7°/O
-- of the nation's major roadways are in poor or fair
condition and are in need of immediate repair. Nearly
200,000 bridges -- or 34.6% -- are in substandard
condition either because they are obsolete or are
structurally deficient. Capital investment per 1,000
vehicle miles of travel on the nation's highways in
inflation adjusted dollars decreased 14.2% from 1986
to 1992. The proposed National Highway System
(NHS) will be the foundation and backbone of the
nation's transportation system in the 21 st century.
Consisting of 159,000 miles of mostly existing roadway,
the NHS would comprise only 4% of the nation's roads
but carry 40°/O of total vehicle traffic and 75% of heavy
truck travel. If Congress does not adopt the NHS by
September 30, 1995, the states will lose $6.5 billion in
annual funding for NHS and Interstate routes,
jeopardizing 230,000 jobs nationwide.
6-32. Transportation Financing from Local
Perspective.
Dahms, Lawrence D. (Metropolitan Transportation
Commission, Oakland). Presented to the Annual
Meeting of the Transportation Research Board, Jan
1 995.
Califomia.
6-33. Travel Market Research and Demand
Modeling in Support of Toll and Fare Policy
Analysis.
Donnelly, Robert M. (Port Authority of New York and
New Jersey, New York, NY). Presented to
Transportation Planning Methods Applications
Conference, Apr 17 1995, Seattle, Washington.
The Port Authority of NewYork and New Jersey is the
custodian of the six vehicular crossings, the PATH
rapid rail transit system, and two bus terminals in
Manhattan that provide the transportation linkage
between New Jersey and New York. Lacking its own
tax authority, state or federal assistance, this interstate
transportation network gets its financial support
primarily from toll revenues, transit fares, and bus fees.
In the new era of ISTEA, and in a region of severe air
quality noncompliance for ozone, and with the advent
of electronic toll collection, establishing toll and fare
policy pricing policy has become a more complicated
matter than simply identifying incremental revenue
enhancements to meet projected financial needs of the
network. Instead, there is now a clear need to consider
and understand market-based pricing options, despite
the lack of historical toll or fare experience in these
areas. This paper examines the market research
studies that have been undertaken at the Port Authority
in the past several years in order to gauge the potential
effectiveness of such transportation pricing strategies
which might be expected to contribute to travel demand
management, reduction in travel delays, and fulfillment
of regional air quality program objectives. Described
are the survey design, data collection, analysis and
modeling that has been done in support of this
research goal, inching three inter-related
components: 1 ) a comprehensive set of
origin-destination intercept surveys of auto and transit
interstate travelers; 2) a regional household survey
yielding population-based estimates of interstate
trip-making rates, along with measures of public
awareness and attitudes regarding transportation policy
funding issues; and 3) a stated-preference survey of
interstate motorists, from which a behavioral choice
model of travel by facility and time of day was
developed. This model was used then to estimate shifts
in travel, changes in congestion levels and delay, and
revenue impacts for a range of toll ad fare scenanos.
The results of the overall study have proven to been
useful in building an empirical foundation on which
objective analysis of toll and fare policy options could
be conducted within the broad context of regional
transportation mobility planning and environmental
concerns.
137
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Project Bibliography- NCHRP 8-32 (1)
New York New Jersey.
6-34. Using the Revenues from Congestion
PricIng.
Small, Kenneth A. Submitted to the Congestion Pricing
Symposium, Jun 1 01 992, Washington, DC.
Congestion pricing has many goals and benefits, but
one thing is clear: its success depends on wise use of
the revenues. The economic theory behind the
concept relies on these revenues to help compensate
for the payments required of highway users. Practical
and ethical considerations similarly dictate that those
who would otherwise be harmed by the fees receive
tangible benefits from the revenues. This paper
investigates the possibilities for designing a package of
congestion prices and revenue uses that can attract
wide support. The suggested approach returns
two-thirds of the revenues to travelers through travel
allowances and tax reductions, and uses the rest to
improve transportation throughout the area and provide
targeted services to affected business centers. By
replacing regressive sales and fuel taxes, this approach
offsets the tendency of the prices alone to have a
regressive distributional impact. By lowering taxes,
funding new highways, improving transit, and providing
business SQrViCeS, the package provides inducements
for support from several key interest groups. The
potential amounts of money involved are discussed
using nationwide data, and in more detail using a case
study of ubiquitous facility pricing throughout the Los
Angeles region. With peak-period prices averaging 15
cents per vehicle-mile in congested regions, revenues
in the Los Angeles scenario would be about $3 billion
annually after collection costs. The suggested
allocation includes $700 million, funneled through
employers, to provide a travel allowance of $10 per
month for even employee in the region, regardle of
mode of travel to work. It also funds a reduction of 5
cents per gallon in the fuel tax, replaces half the
dedicated sales-tax surcharge now in place in four
counties in the region, and rebates $460 million in local
property-tax revenues now going to subsidize
highways. About $1 billion annually is left over to fund
new highways, transit improvements, and services to
employment centers. Illustrative calculations o the
effects on various individuals suggest that the
combination of travel-time savings, travel allowance,
and tax reductions alone nearly compensate low and
avorage-income auto commuters, and more than
compensate high-income auto commuters, many
carpoolers, and transit users. Therefore, the entire
package can be viewed as a very low-cost way of
providing $1 billion annually in new highway, transit,
and business services.
6-35. When Finance Leads Planning: The
Influence of Public Finance on Transportation
Planning and Policy in California.
Taylor, B. D. (University of California Transportation
Center, Berkeley, CA). 1992.
This dissertation examines the role of finance in
shaping transportation planning and policy making.
This research argues that the key to understanding the
development of metropolitan transportation systems is
found in the political negotiation and compromises
made to secure public investment in those systems.
The particular Circumstances leading to or preventing a
tax increase or appropriation for a particular program or
project explains most of the success or failure of that
program or project. Three case studies are examined:
planning and finance of urban freeways prior to 1960;
the shift from 'freeway first' to 'multimodal' urban
transportation polices after 1960; and the development
of state subsidies of public transit after 1970.
Califomia.
138
Representative terms from entire chapter:
congestion pricing
