Alamo RMA VRF Project Update June 2016

Transcription

1 Alamo RMA VRF Project Update June 2016

2 Vehicle Registration Fee In 2013, the 83 rd Texas Legislature enacted HB 1198 amending Section of the Texas Transportation Code authorizing certain counties to impose an additional vehicle registration fee not to exceed $ Section of the Code requires that, if adopted, the County remit the revenue from the additional fee to a regional mobility authority located in the County to fund long-term transportation projects. On August 29, 2013, Bexar County Commissioners Court adopted an additional vehicle registration fee of $10.00 ( County Mobility Fee ) through a determination that long-term transportation projects will benefit the County and its residents through improved mobility, increased safety, and enhanced economic development.

3 Vehicle Registration Fee As part of the interlocal funding agreement with Bexar County, the Alamo RMA may issue obligations backed by the additional vehicle registration fee revenue to fund long-term transportation projects that have been approved by Commissioners Court. In October and November of 2015 the Alamo RMA Board of Directors and Commissioners Court approved a list of projects spanning 10 years for funding by the Vehicle Registration Fee. The list of projects includes ten Bexar County transportation projects one existing project and three new projects in partnership with TxDOT.

4 Vehicle Registration Fee Projects The Projects were selected based on: Mobility Needs Capacity Needs Connectivity Anticipated Development (Population Growth) Commercial/Industrial Growth The Projects are of regional importance and satisfy the Texas Transportation Code requirement that the funds be used for long term transportation projects. The Projects are all non-toll.

5 ARMA & TxDOT Partnership Projects Existing Project TxDOT825: Loop 1604 from Potranco to US 90: $70,000,000 New Projects Precinct 1 Project ID. No. Project Name Location (Proposed Limits) Notes TXDOT1 Loop 1604 South US 281 to FM 1303 Expand from 2 to 4 lanes Precinct 2 Project ID. No. Project Name Location (Proposed Limits) Notes TXDOT2 FM 471 Old FM 471 East to SH 211 Expand from 2 to 4 lanes Precinct 4 Project ID. No. Project Name Location (Proposed Limits) Notes TXDOT3 FM 1516 FM 78 to I-10 Expand from 2 to 4 lanes $83,850,000 Total Project Cost $32,250,000 ARMA Contribution

6 ARMA & County Transportation Projects Project ID. No. Project Name Location (Proposed Limits) Notes BC1 Fischer Road Phase II IH 35 to Somerset Road Expand from 2 to 4 lanes BC2 Old FM 471/Talley Road Old FM 471 from Culebra (FM 471) to Culbera (FM 471); Talley Road from Culebra (FM 471) to Old Talley Road $93,094,016 Total Project Cost $76,874,541 ARMA Contribution Expand from 2 to 3 lanes BC3 Talley Road Phase I Potranco (FM 1957) to Wiseman Expand from 2 to 4 lanes BC4 Watson Road Phase II SWISD to Bend (N-S segment) BC5 W. Military Drive Precinct 1 Westcreek Oaks Dr. to Military Bridge Precinct 3 Widen existing 2 lanes to 12' lanes and add shoulders Reconstruct street with full width sidewalks Project ID. No. Project Name Location (Proposed Limits) Notes BC6 Blanco Rd Phase II (MPO)(20% Match) W. Oak Estates Dr. to Borgfeld Dr. Expand from 2 to 4 lanes BC7 Evans Rd Phase I Bulverde Rd. to TPC Parkway Expand from 2 to 4 lanes BC8 Evans Rd Phase II TPC Parkway to Hanging Oak Expand from 2 to 4 lanes Precinct 4 Project ID. No. Project Name Location (Proposed Limits) Notes BC9 Candlemeadow Binz-Engleman to Foster Road Reconstruct street with full width sidewalks BC10 Foster Road Phase II IH 10 to Houston St. (FM 1346) Expand from 2 to 4 lanes

7 Vehicle Registration Fee Program

8 Economic Development (MPO)

9 Funding Sources

10 Schedule

11 Debt Issuance The Alamo RMA held its first debt issuance, issuing $135 million in Vehicle Registration Fee Revenue Bonds. The Bonds were priced on May 18th. The Sale of the bonds will close on June 15th.

12 Upcoming Events June transfer of $70 million to TxDOT for non-toll expansion of Loop 1604 from US 90 to Potranco Road. June RMA Board action to release the Blanco Road Phase II Design Services Request for Qualifications. June/July Board action to approve Work Authorizations for Evans Road Phase II and Foster Road Phase III Design Services by its GEC s. January Board Action to release Watson Road Phase II Design Services Request for Qualifications.