State of the Agency

Mike Snyder, P.E., Executive Director

State of the Agency

• System Overview • Construction Update • 5-Year Work Plan • Trends and Forecast • Summary

Facts: • 105 mile system • Over 300,000 Customers • 91% E-PASS Customer Satisfaction Rating

Construction Program Facts

• Work Progressing at a Monthly Rate of Between $14 to $18 Million (down from $22 to $30 Million 1 year ago) • Construction Contract Value of Over $530 Million (down from $770 Million 1 year ago), 80% Completed • All Major Projects are On Budget and On, or Ahead, of Schedule • Environmentally Responsible Manner • Traffic Impacts Minimized, Communication with Customers Maximized

SR 429 Daniel Webster Western Beltway Active Construction Project Locations SR 414 John Land Apopka Expressway SR 408 Widening SR 528 Narcoosee Road Interchange SR 528 BeachLine Main Express Lanes SR 417/Boggy Creek Road /South Access Road Interchange SR 417/Innovation Way Interchange SR 417/Moss Park Interchange

5-Year Work Plan

Project $ Project Description 253A 253B 417-302 SR 408 Widening East of I-4 $63M

SR 408 Widening from Rosalind Ave. to Crystal Lake Dr.

$78M

SR 408 Widening from Crystal Lake Dr. to Conway Rd.

253C 414-210 414-211 414-212 429-200C 528-300 907 $36M

SR 414 West of CR 535 to SR 429

Interchange Projects $27.3M

Design / Build Services for SR 528 / SR 436 Interchange

$23.7M

SR 528/Narcoossee Rd Interchange Improvements

457A $126M

SR 408 Widening from Conway Rd to Oxalis Ave

SR 414 Maitland Blvd Extension $107M

SR 414 West of CR 435 to East of Hiawassee Road

$90.3M

SR 414 East of Hiawassee Road to East of SR 441

$10.9M

SR 414 Mainline Plaza

$17M

SR 417/ Moss Park Rd Interchange

$15M

SR 417/Innovation Way Interchange

528-404 $12M

SR 528/ Innovation Way Interchange

417-301A 528-401 528-403 429 $6.8M

Boggy Creek Road/ South Access Road Interchange

Express Toll Plaza Projects $26.8M

Beachline Mainline Conversion

$34.1M

SR 528 Beachline East Express Lanes

Renewal and Replacement Projects $20.4M

SR 429 Resurfacing

2007 2008 2009 2010 2011

M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J

Revenue Tracking Summary Chart 7/1 – 2/3

$4,500 $4,000 $3,500 $3,000 $2,500 $2,000 $1,500 $1,000 $500 $0 7/8 7/15 7/22 7/29 8/5 8/12 8/19 8/26 9/2 9/9 9/16 9/23 9/30 10/7 10/14 10/21 10/28 11/4 11/11 11/18 11/25 12/2 12/9 12/16 12/23 12/30 1/6 1/13 1/20 1/27 2/3 FY 2009 FY 2008

Revenue Chart 2009

$20,000 $19,000 $18,000 $17,000 $16,000 $15,000 $14,000 Actuals Original Projection Revised Projection as of 2/09

Local Traffic Trends

Roadway

SR 50 (West Colonial Drive) SR 50 (East Colonial Drive) I-4 (Attractions) SR 527 (Orange Ave)

Monthly Growth Compared to Previous Year Change in Average Weekday Traffic July August September October

-7.25% -8.88% -3.51% -7.20% -5.55% -9.61% -0.29% -6.45% -5.14% -10.98% -5.19% -5.65% -5.07% -8.03% -2.87% -6.79%

November December

-4.60% -11.16% -5.84% -9.68% -4.79% -6.60% 0.29% -4.15%

Roadway

SR 408 Pine Hills ML SR 408 Conway ML *Impacts from Tropical Storm Fay

Change in Monthly Transactions July August* September October

-4.45% -3.27% -14.59% -14.78% -3.29% -0.84% -6.07% -1.42%

November December

-9.45% -2.04% -3.22% 2.87%

System Revenue vs. Orlando Unemployment

System Revenue Growth versus Orlando MSA Unemployment

10.00% 5.00% 0.00% -5.00% -10.00% Change in System Revenue -15.00% -20.00% Orlando MSA Unemployment Ja n '0 8 Fe b '0 8 M ar ch '0 8 A pr il '0 8 M ay '0 8 Ju ne '0 8 Ju ly '0 8 A ug '0 8 S ep t ' 08 O ct '0 8 N ov '0 8 D ec '0 8 Ja n '0 9

Month

*change over previous year 9.00% 8.00% 7.00% 6.00% 5.00% 4.00% 3.00% 2.00% 1.00% 0.00% *Source

System Revenue vs. Orlando Gas Price

System Revenue Growth versus Gas Prices

10.00% 5.00% 0.00% -5.00% -10.00% -15.00% Change in System Revenue Average Gas Price -20.00% Ja n '0 8 Fe b '0 8 M ar ch '0 8 Ap ril '0 8 M ay '0 8 Ju ne '0 8 Ju ly '0 8 Au g '0 8 Se pt '0 8 O ct '0 8 N ov '0 8 D ec '0 8 Ja n '0 9 Fe b '0 9

Month

*change over previous year $4.50

$4.00

$3.50

$3.00

$2.50

$2.00

$1.50

$1.00

$0.50

$0.00

*Source

SR 408 Revenue vs. Orlando Unemployment

*Source

OIA Passengers

OIA Passengers

4.00

3.50

3.00

2.50

2.00

1.50

Month

*Source 2005 2006 2007 2008

SR 528 Airport Plaza Revenue vs. OIA Passengers

SR 528 Airport Plaza Revenue vs. OIA Passengers Monthly Growth over Previous Year

15.0% 10.0% 5.0% 0.0% -5.0% -10.0% -15.0% * -20.0% *Source *change over previous year OIA Passengers SR 528 Airport Plaza Revenue

M onth

SR 417 Southern Connector Revenue vs. OIA Passengers

SR 417 Southern Connector Revenue vs. OIA Passengers Monthly Growth over Previous Year

15.0% 10.0% 5.0% 0.0% -5.0% -10.0% -15.0% OIA Passengers SR 417 Southern Connector Revenue -20.0% Jan-06 Feb-06 M ar-06 Apr-06M ay -06 Jun-06 J ul-06 Aug-06 Sep-06 Oc t-06 N ov -06 D ec -06 Jan-07Feb-07 M ar-07 Apr-07M ay -07 Jun-07 J ul-07 Aug-07 Sep-07 Oc t-07 N ov -07 D ec -07 Jan-08 Feb-08 M ar-08 Apr-08M ay -08 Jun-08 J ul-08 Aug-08 Sep-08 Oc t-08 N ov -08 D ec -08

Month

*Source

Budget Revisions

FY 2009 - Operations, Maintenance and Administration (OM&A) budgets cut by more than 10%

Budget Cuts

• Delayed certain capital projects • Reduced toll collection staff • Postponed hiring of administrative staff • Fewer maintenance cycles for roadways – i.e.: mowing, trash pick-up, etc.

• Preventative maintenance cycles for equipment • Eliminated implementing budget for traffic management center

Commitment to Quality & Safety

• Road Rangers • Florida Highway Patrol • Renewal and Replacement Program

Summary

• Existing Construction Projects On Schedule and On Budget • Traffic Universally Down on All Transportation Facilities • Operation, Maintenance and Administration (OM&A) Budgets Cut By More Than 10% • OOCEA Continues Its Commitment to Safety and Quality Transportation in Central Florida

Florida’s Toll Rates

Florida's Turnpike (FL) Alligator Alley Florida's Turnpike (FL) Northern Coin System Florida's Turnpike (FL) Southern Coin System Suncoast Parkway (FL) Florida's Turnpike (FL) Ticket System OOCEA S.R. 528 (Beachline Expressway) (FL) Florida's Turnpike (FL) Homestead Extension Sawgrass Expressway (FL) OOCEA S.R. 417 (Central Florida GreeneWay) (FL) Beachline West, Florida's Turnpike (FL) OOCEA S.R. 429 (Western Expressway) (FL) Miami Dade Expressway, Dolphin, S.R. 836 (FL) OOCEA S.R. 408 (East-West Expressway) (FL) Veterans Expressway (FL) Polk Parkway (FL) Miami Dade Expressway, Don Shula, S.R. 874 (FL) Tampa Crosstown Expressway (FL) Miami Dade Expressway, Gratigny, S.R. 924 (FL) Miami Dade Expressway, Airport, S.R. 112 (FL) 0.0

3.2

5.0

5.6

6.4

7.1

7.5

7.6

8.5

8.7

9.1

9.4

9.5

10.6

11.4

11.7

12.0

17.4

21.4

23.1

30.5

10.0

15.0

20.0

25.0

30.0

35.0

Toll Rate Per Mile (cents per mile, non-discounted)

40.0

45.0

50.0

OOCEA Toll Increases

• May 1980 – SR 408 (increased $0.05 from $0.20 to $0.25) – SR 528 East Mainline (increased $0.15 from $0.35 to $0.50) • January 1987 – SR 408 (increased $0.25 from $0.25 to $0.50) – SR 528 East Mainline (increased $0.25 from $0.50 to $0.75) – SR 528 Airport Mainline (increased $0.25 from $0.25 to $0.50) • July 1990 – SR 408 all Mainline plazas (increased $0.25 from $0.50 to $0.75) – SR 417 Curry Ford and University Mainline (increased $0.25 from $0.50 to $0.75) – SR 528 East Mainline (increased $0.25 from $0.75 to $1.00) – SR 528 Airport Mainline (increased $0.25 from $0.50 to $0.75) Decreased Tolls • July 1992 – SR 408 Hiawassee and Dean Mainline (decreased $0.25 from $0.75 to $0.50) – SR 417 Curry Ford and University Mainline (decreased $0.25 from $0.75 to $0.50)

Florida Turnpike Enterprise Toll Increases

• April 1989 • July 1991 • July 1993 • March 2004 • 2011/2012* 40% 30% 30% 25% (cash only) Statutory CPI increase *State Law requires the Florida Turnpike to index tolls to the CPI or a similar index a minimum of every 5 years, which would indicate the index would be initiated no later than 2012.

Other Agencies

Toll Rate Increases Since January 2008

– Chicago Skyway – Dallas North Tollway – Delaware Turnpike (I-95) – Dulles Greenway (VA) – E-470 (CO) – Garden State Parkway (NJ) – Indiana Toll Road – Massachusetts Turnpike, Boston Ext.

– New Jersey Turnpike – New York State Thruway – Pennsylvania Turnpike – Pocahontas 895 (VA) – San Joaquin Hills Corridor (CA) – SR 241-Foothill/Eastern Toll Road (CA) – SR 91 (CA) – Toronto 407

Other Agencies

Currently Planning Toll Rate Increases

– JFK Memorial Highway (MD) – Maine Turnpike – Massachusetts Turnpike – Ohio Turnpike

CUTR* Findings: Value of Expressway System to the Central Florida Region

Travel Time Savings

• Oviedo to Downtown 23.7 min.

• Ocoee to Downtown 10.8 min. • Waterford Lakes to Orlando Int’l Airport 13.6 min.

*Source: Center for Urban Transportation Research, 2006

Decision Drivers

• Credit rating • Traffic and revenue projections • Construction program (including shovel ready projects) • Wekiva Parkway

CURRENT 2009

• No Increase • Revenue Impacts

– Projections down 8% since adoption of fiscal year budget in June 08

• Coverage Ratio

– 2010 Projection 1.23x

– 2013 Projection 1.36x

– 2018 Projection 1.61x

Base Forecast FY 2009

• 2009 – Raise toll by $.25 at mainline and ramps • Revenue Impacts – 2010: 19% increase over current projections – 2013: 25% increase over current projections – 2018: 30% increase over current projections • Coverage Ratio – Minimal coverage ratios from 2009-2012 – May raise credit concerns

Base 2009 + Option 1

• 2009 – Raise toll by $.25 at mainline and ramps • 2012 – Introduce index to CPI consistent with FL Turnpike (and every 5 years after) – Index all tolls to the higher of CPI or 3% – 15% minimum increase every five years – Toll for Electronic Customers will be actual increase – Toll for Cash Customers will be rounded in $.25 increments

Base 2009 + Option 1

• Revenue Impacts – 2010: 19% increase over current projections – 2013: 47% increase over current projections – 2018: 71% increase over current projections • Coverage Ratio – Coverage in the first 10 years will average 1.60x (assuming $4.9B of Capital Projects in first 12 years)

Base 2009 + Option 2

• 2009 Raise toll by $.25 at mainline and ramps • 2012 Raise toll by $.25 at mainline and ramps • 2017 Introduce index to CPI (and every 5 years after) – Index all tolls to CPI – 12% increase (2.4% annual estimate over 5 years) – Toll for Electronic Customers will be actual increase – Toll for Cash Customers will be rounded in $.25 increments

Base 2009 + Option 2

• Revenue Impacts – 2010 19% increase over current projections – 2013 56% increase over current projections – 2018 83% increase over current projections • Coverage Ratio – Coverage in the first 10 years will average 1.60x (assuming $4.9B of Capital Projects in first 12 years)

Base 2009 + Option 1 or Option 2 Impact to Capital Projects

4 Projects Accelerated for Construction

SR 408 Widening 1. SR 417 Interchange 2. Goldenrod to Chickasaw SR 429 3. Boy Scout Road to US 441 4. SR 429 at SR 414 Interchange Phase II

$648 Million = 18,029 Jobs*

*Job multiplier source: Federal Highway Administration (FHWA)

Wekiva Parkway

OOCEA Funded Project $1.8 B (2008 dollars)

• Open in its entirety (including NW spur to US 441) in FY 2019 • Timeline (under Option 1 or 2) – From the time of approval by Federal Highway Administration, the conventional schedule of Design, Right of Way Acquisition, and Construction will take approximately 8 years to complete. Construction is the last 4 years of that timeline.

– There may be opportunities to accelerate the schedule.

Economic Impact

• Capital Projects Total $3.54 Billion = *65,432 Jobs • Base 2009 + Option 1 or Option 2 – Priority List $648 Million = *18,029 Jobs – Accelerates 4 projects *job multiplier source: Federal Highway Administration (FHWA)

Accelerated Projects

Summary

• Credit ratings are a very real concern • Willingness to take decisive board action is key to credibility with rating services • Options 1 and 2 provide some economic opportunities to the community