Paseo del Volcan Funding and Financing Workshop

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1 STRATEGIC CONSULTING SERVICES Funding and Financing Workshop April 4,

2 Agenda : Parsons Brinckerhoff Dave Pennington: Albuquerque Area Manager Nick Amrhein: Strategic Consulting Group (DEN) Background: Important Other C-470 Managed Lanes, Denver, Colorado Southern Parkway, St. George, Utah Goals / Challenges Potential Strategies Recommended next steps for project development and acceleration 2

3 Corridor 3

4 History 30.6 miles from I-40 to US 550 Location study/preliminary engineering (1990s) developed: freeway facility with interchanges frontage roads adequate r/w for other modal facilities 4

5 History Draft EIS published Final EIS ROD signed ROD Approved 2-lane roadway with specific access locations 400 ft. right-of-way ROD prescribed commitments for design and construction 5

6 : Parsons Brinckerhoff s Strategic Consulting Group Finance, Policy, Economics, Management, Operations, Transaction Due Diligence Funding Money to Spend New Taxes, Value Capture, Grants, Bond Proceeds, etc. Financing Tools to accelerate funding GO, TIFIA, Revenue Bonds Public-Private Private Partnerships 6

7 Example: C-470 Managed Lanes (Denver, Colorado) 7

8 Example: C-470 Managed Lanes (Denver, Colorado) Local stakeholder-led project development process - Policy Committee (PC) - Technical Working Group (TWC) 8

9 Example: C-470 Managed Lanes (Denver, Colorado) 9

10 Example: Southern Parkway, (St. George, Utah) Map Interstate 15 Process Funding Sources Considered St. George, Utah Auto Registration Fee Value Capture Hurricane, Utah (PB / SC) Paseo Del Payment Structures Tolling 10

11 Challenge: Lack of Funding Need to Accelerate the Strategy: Use Local to Develop the Funding Plan and Scope Initial Thoughts for : Tolling is a Poor Fit. Value Capture Appears Viable. Who can Issue Local Revenue Bonds? Phasing Plan is Needed to Right Size the. 11

12 Suggested Form Technical Working Group (hire support as needed) that can Develop Options Perform economic benefits analysis to show value of the project to stakeholders Develop preliminary cost estimates / phasing strategy Develop funding / financing options Options are Vetted through the Steering Committee Stakeholder Support through Steering Committee Develop business plan for moving the project forward 12

13 Discussion Thank You! Dave Pennington (ABQ) Nick Amrhein (DEN) 13

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