Transportation Funding and Infrastructure Improvements Overview
Explore the detailed overview of transportation funding and infrastructure improvements presented by Secretary Greg Thomas from the KYTC. The presentation covers the 2018-2024 highway plan, cash flow monitoring during the 2018 construction season, additional funding needs, and future projections for federal and state funds for infrastructure projects.
Download Presentation
Please find below an Image/Link to download the presentation.
The content on the website is provided AS IS for your information and personal use only. It may not be sold, licensed, or shared on other websites without obtaining consent from the author. If you encounter any issues during the download, it is possible that the publisher has removed the file from their server.
You are allowed to download the files provided on this website for personal or commercial use, subject to the condition that they are used lawfully. All files are the property of their respective owners.
The content on the website is provided AS IS for your information and personal use only. It may not be sold, licensed, or shared on other websites without obtaining consent from the author.
E N D
Presentation Transcript
Interim Joint Committee on Interim Joint Committee on Transportation Transportation Presenter: Secretary Greg Thomas, KYTC June 5, 2018
2018 2018- -2024 Highway Plan 2024 Highway Plan 2018-2020 Biennium 2018-2024 Full Plan $ Millions SHIFT Over-programming reduced from 200% to 28% Focus on Assets/Addressing Backlog Prioritizes 583 SHIFT Projects, 1,000 bridges and 5,000 miles of pavement 230 SHIFT projects, 400 bridges, and 1,275 miles of pavement authorized in the biennium Bridge Improvements $548 $1,160 Pavement Improvements $356 $1,150 GARVEE Debt Payments $275 $600 SHIFT Projects $1,000 $4,600 Dedicated Federal $495 $1,000 Funds Total $2,674 $8,510 $206 $1,800 28% Over-programming 8%
2018 Construction Season 2018 Construction Season - - Cash Flow Monitoring Cash Flow Monitoring Priorities: Safety, Bridges & Paving Needs, Direct Job Growth Great deal of activity during construction season, KYTC closely monitoring cash flow Projected Debt Service Payments and Revenue Sharing during June, July, August 2018 $359,600,000 Debt Service $128,000,000 $82,600,000 $92,000,000 $57,000,000 Garvee Debt Service Revenue Sharing Three Contractor Payments in August
Additional Needs Additional Needs $ Millions $1,800 $5,880 $7,680 General Assembly Added Hwy Plan Appendix A Projects Total - Additional Revenue Needed $1,100 $400 $700 $455 I-69 Total Construction Cost Estimated Toll Revenue Bonds Remaining Cost KY's Share (65%) - KY Federal/State Required $2,610 $1,160 $1,065 $290 $385 Brent Spence Bridge I-71/I-75 Total Cost Kentucky's Share Financing Mechanism (KY Share) I-75/I-275 Interchange Reconstruction KY Federal/State Required $8,520 Total
Even If Balance Sheet Even If Balance Sheet 2019 2020 2021 $ Millions 2022 2023 2024 $433 $132 $342 $172 $465 $255 $465 $255 $474 $275 $474 $370 Federal Funds Available for Projects State Funds Available for Projects ($267) ($106) ($267) ($106) ($267) ($106) ($267) ($106) ($267) ($106) ($267) ($206) Federal Funds Needed for Bridges and Pavements State Funds Needed for Bridges and Pavements ($0.5) $0 $0 $0 ($19) $0 ($160) $22 ($152) $22 ($152) $22 I-69 Bridge Project (Remaining Cost After Toll Revenue Bonds) I-69 INFRA Grant (65% of $100M Grant) Brent Spence Bridge (Design and R/W) $0 ($14) ($20) ($20) ($20) ($20) I-75/I-275 Reconstruction needed with Brent Spence Bridge $0 ($2) ($10) ($20) ($18) ($77) (includes Construction) Combined Mega-Project Total Cost Federal Share (80%) State Share (20%) ($0.5) ($0.5) $0 ($16) ($16) $0 ($49) ($39) ($10) ($178) ($143) ($36) ($168) ($135) ($34) ($227) ($182) ($45) $166 $26 $59 $66 $159 $60 $55 $40 $72 $63 $25 $49 Federal Funds Remaining for SHIFT Projects State Funds Remaining for SHIFT Projects Federal + State Funds Available for SHIFT Projects Assumes tolling for I-69 Henderson Bridge Project, self-supporting financing mechanism for Brent Spence Bridge Project, and generous $100 Million Federal INFRA Grant for both projects. $191 $125 $219 $95 $136 $74
State Funds Critical to Leveraging Federal Grants State Funds Critical to Leveraging Federal Grants INFRA (formerly FASTLANE) $4.5 billion available FY 2016-2020 FY 2017 and FY 2018 INFRA grants have not yet been awarded $900 million available in FY 2019 for projects nationwide $1 billion available in FY 2020 for projects nationwide INFRA can provide no more than 60% State and/or Local must provide 20% Example of a strong application for $150M Total Project Cost: $60M INFRA, $45M Traditional Federal, $42M State, $3M Local/Private BUILD (formerly TIGER) $1.5 billion available nationwide in FY 2018 BUILD program Grants up to $25 Million per project with no state receiving more than $150 Million 20% match required for urban projects
States with a sustainable revenue plan will be the States with a sustainable revenue plan will be the winners going forward. winners going forward. Leverage Leverage is the is the key. - -USDOT USDOT key.
