Transcript State Route 91 Express Lanes Acquisition Analysis

91 Express Lanes
Kirk Avila
Treasurer/General Manager
Background
 The 91 Express Lanes is a four lane, 10-mile toll
road
 The toll road cost approximately $135 million to
construct and opened in December 1995
 The toll road was constructed by the California
Private Transportation Company, LLC (CPTC)
 The State of California granted CPTC a 35-year
Franchise Agreement to own and operate the toll
road
OCTA’s Purchase
 Acquired the 91 Express Lanes on 1/3/03
 Required tolling legislation
 $207.5 million purchase price
 Removed Non-Compete provisions
 Created an Advisory Committee comprised of
Orange, Riverside and San Bernardino county
representatives
OCTA’s Toll Policy
 Adopted by the OCTA Board of Directors in
July 2003
 Traffic volumes are monitored on an hourly basis
 Policy establishes trigger points to adjust tolls up
or down, depending on traffic volume and
compliance with covenants
 Policy includes COLA annual adjustments and
three ride free
 Board of Directors and customers are notified at
least ten days prior to an adjustment
Current Toll Schedule – October 2011
Time
Sun
Midnight
$1.30
1:00 AM
$1.30
2:00 AM
$1.30
3:00 AM
$1.30
4:00 AM
$1.30
5:00 AM
$1.30
6:00 AM
$1.30
7:00 AM
$1.30
8:00 AM
$1.75
9:00 AM
$1.75
10:00 AM
$2.55
11:00 AM
$2.55
NOON
$2.55
1:00 PM
$2.95
2:00 PM
$2.95
3:00 PM
$2.95
4:00 PM
$3.10
5:00 PM
$3.10
6:00 PM
$3.10
7:00 PM
$2.55
8:00 PM
$2.55
9:00 PM
$2.55
10:00 PM
$1.30
11:00 PM
$1.30
91 EXPRESS LANES TOLL SCHEDULE
Westbound
Oct-11
Mon
Tue
Wed
Thur
Fri
Sat
$1.30
$1.30
$1.30
$1.30
$1.30
$1.30
$1.30
$1.30
$1.30
$1.30
$1.30
$1.30
$1.30
$1.30
$1.30
$1.30
$1.30
$1.30
$1.30
$1.30
$1.30
$1.30
$1.30
$1.30
$2.45
$2.45
$2.45
$2.45
$2.45
$1.30
$4.00
$4.00
$4.00
$4.00
$3.85
$1.30
$4.15
$4.15
$4.15
$4.15
$4.00
$1.30
$4.60
$4.60
$4.60
$4.60
$4.45
$1.75
$4.15
$4.15
$4.15
$4.15
$4.00
$2.10
$3.30
$3.30
$3.30
$3.30
$3.30
$2.55
$2.10
$2.10
$2.10
$2.10
$2.10
$2.55
$2.10
$2.10
$2.10
$2.10
$2.10
$2.95
$2.10
$2.10
$2.10
$2.10
$2.10
$2.95
$2.10
$2.10
$2.10
$2.10
$2.10
$2.95
$2.10
$2.10
$2.10
$2.10
$2.10
$2.95
$2.10
$2.10
$2.10
$2.10
$2.55
$2.95
$2.10
$2.10
$2.10
$2.10
$2.55
$3.10
$2.10
$2.10
$2.10
$2.10
$2.55
$3.10
$2.10
$2.10
$2.10
$2.10
$3.05
$2.55
$1.30
$1.30
$1.30
$1.30
$2.10
$2.10
$1.30
$1.30
$1.30
$1.30
$1.30
$1.30
$1.30
$1.30
$1.30
$1.30
$1.30
$1.30
$1.30
$1.30
$1.30
$1.30
$1.30
$1.30
$1.30
$1.30
$1.30
$1.30
$1.30
$1.30
Time
Sun
Midnight
$1.30
1:00 AM
$1.30
2:00 AM
$1.30
3:00 AM
$1.30
4:00 AM
$1.30
5:00 AM
$1.30
6:00 AM
$1.30
7:00 AM
$1.30
8:00 AM
$1.65
9:00 AM
$1.65
10:00 AM
$2.55
11:00 AM
$2.55
NOON
$3.05
1:00 PM
$3.05
2:00 PM
$3.05
3:00 PM
$2.55
4:00 PM
$2.55
5:00 PM
$2.55
6:00 PM
$2.55
7:00 PM
$2.55
8:00 PM
$2.55
9:00 PM
$2.10
10:00 PM
$1.30
11:00 PM
$1.30
91 EXPRESS LANES TOLL SCHEDULE
Eastbound
Oct-11
Mon
Tue
Wed
Thur
Fri
Sat
$1.30
$1.30
$1.30
$1.30
$1.30
$1.30
$1.30
$1.30
$1.30
$1.30
$1.30
$1.30
$1.30
$1.30
$1.30
$1.30
$1.30
$1.30
$1.30
$1.30
$1.30
$1.30
$1.30
$1.30
$1.30
$1.30
$1.30
$1.30
$1.30
$1.30
$1.30
$1.30
$1.30
$1.30
$1.30
$1.30
$2.10
$2.10
$2.10
$2.10
$2.10
$1.30
$2.10
$2.10
$2.10
$2.10
$2.10
$1.30
$2.10
$2.10
$2.10
$2.10
$2.10
$2.10
$2.10
$2.10
$2.10
$2.10
$2.10
$2.10
$2.10
$2.10
$2.10
$2.10
$2.10
$2.55
$2.10
$2.10
$2.10
$2.10
$2.10
$2.55
$2.10
$2.10
$2.10
$2.10
$3.15
$3.05
$2.90
$2.90
$2.90
$3.15
$4.95
$3.05
$4.15
$4.15
$4.15
$4.25
$3.10
$3.05
$4.45
$3.70
$3.95
$5.45
$9.75
$3.05
$4.55
$6.80
$7.30
$8.95
$8.85
$3.05
$4.85
$6.25
$7.50
$8.80
$7.00
$3.05
$4.45
$3.60
$3.60
$4.40
$5.35
$2.55
$3.15
$3.15
$3.15
$4.55
$5.00
$2.10
$2.10
$2.10
$2.10
$2.90
$4.55
$2.10
$2.10
$2.10
$2.10
$2.10
$2.90
$2.10
$1.30
$1.30
$1.30
$1.30
$2.10
$1.30
$1.30
$1.30
$1.30
$1.30
$1.30
$1.30
Revenue Distribution
Westbound Lanes
7pm-10pm
3%
Eastbound Lanes
10pm-5am
3%
7pm-10pm
10%
3pm-7pm
17%
10pm-5am
1%
5am-10am
54%
5am-10am
4%
3pm-7pm
67%
10am-3pm
18%
10am-3pm
23%
5am-10am
10am-3pm
7pm-10pm
10pm-5am
3pm-7pm
5am-10am
10am-3pm
7pm-10pm
10pm-5am
3pm-7pm
Traffic Volumes Since 2004
Total Revenues Since 2004
Fiscal Year
Conclusions
 Congestion management pricing philosophy has
increased mobility in the SR 91 Corridor
 The precise formulas in OCTA’s toll policy helps
public acceptance
 Successful public private partnership based on
contracts with the private sector
 OCTA is working with the SR 91 Advisory Committee
and Caltrans to increase the capacity in the SR-91
corridor
 OCTA is also working with the Riverside County
Transportation Commission on their plans to extend
the 91 Express Lanes into Riverside County