Mike Heiligenstein of the CTRMA: The Central Texas Approach
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Transcript of Mike Heiligenstein of the CTRMA: The Central Texas Approach
![Page 1: Mike Heiligenstein of the CTRMA: The Central Texas Approach](https://reader033.fdocuments.in/reader033/viewer/2022051818/54bce2ec4a7959e0218b45be/html5/thumbnails/1.jpg)
The Central Texas ApproachThe Central Texas Approach
Mike HeiligensteinExecutive DirectorMike HeiligensteinExecutive Director
![Page 2: Mike Heiligenstein of the CTRMA: The Central Texas Approach](https://reader033.fdocuments.in/reader033/viewer/2022051818/54bce2ec4a7959e0218b45be/html5/thumbnails/2.jpg)
Texas Regional Mobility AuthoritiesTexas Regional Mobility Authorities
• #1 Central Texas• #2 Alamo• #3 Grayson County• #4 Northeast Texas• #5 Cameron County• #6 Hidalgo County • #7 Camino Real
• #1 Central Texas• #2 Alamo• #3 Grayson County• #4 Northeast Texas• #5 Cameron County• #6 Hidalgo County • #7 Camino Real
![Page 3: Mike Heiligenstein of the CTRMA: The Central Texas Approach](https://reader033.fdocuments.in/reader033/viewer/2022051818/54bce2ec4a7959e0218b45be/html5/thumbnails/3.jpg)
The Texas ModelThe Texas Model
• Board of directors (appointed)– Local control
• A multi-modal approach– Planes, trains, automobiles and more
• Jurisdictional flexibility– Multiple counties– Non contiguous counties
• Innovative contracting methods– Comprehensive development agreement
• Board of directors (appointed)– Local control
• A multi-modal approach– Planes, trains, automobiles and more
• Jurisdictional flexibility– Multiple counties– Non contiguous counties
• Innovative contracting methods– Comprehensive development agreement
![Page 4: Mike Heiligenstein of the CTRMA: The Central Texas Approach](https://reader033.fdocuments.in/reader033/viewer/2022051818/54bce2ec4a7959e0218b45be/html5/thumbnails/4.jpg)
The Texas ModelThe Texas Model
• A blend of funding sources– Revenue bonds– Private equity– Private capital– Federal funds– State funds
• A blend of funding sources– Revenue bonds– Private equity– Private capital– Federal funds– State funds
– Grants and loans• Toll Equity Grant• Texas Mobility Fund• TIFIA• SIB
– Local contributions/taxes– Concession agreement
– Grants and loans• Toll Equity Grant• Texas Mobility Fund• TIFIA• SIB
– Local contributions/taxes– Concession agreement
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Getting StartedGetting Started
• Government loans, grants and donations create financial foundation
• Revenue bonds or private investment provides primary capital
• Tolls or fees generate revenue to meet debt obligations
• As business increases, surplus revenue can be used to fund other regional mobility needs
• Feasibility account in first bond financing issuance
• Government loans, grants and donations create financial foundation
• Revenue bonds or private investment provides primary capital
• Tolls or fees generate revenue to meet debt obligations
• As business increases, surplus revenue can be used to fund other regional mobility needs
• Feasibility account in first bond financing issuance
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The Mobility Authority ProcessThe Mobility Authority Process
• The county or counties file a petition with the Transportation Commission for creation of a Mobility Authority
• Commission reviews the application to insure all requirements have been met
• TxDOT conducts public hearing(s)• Transportation Commission reviews
application and public comment before determining whether to authorize
• The county or counties file a petition with the Transportation Commission for creation of a Mobility Authority
• Commission reviews the application to insure all requirements have been met
• TxDOT conducts public hearing(s)• Transportation Commission reviews
application and public comment before determining whether to authorize
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The Central Texas Regional Mobility AuthorityThe Central Texas Regional Mobility Authority• 1st regional mobility
authority in Texas• Began operation in
January 2003• Bi-county agency with
seven member board• Initial focus regional
toll road plan
• 1st regional mobility authority in Texas
• Began operation in January 2003
• Bi-county agency with seven member board
• Initial focus regional toll road plan
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First ProjectFirst Project
• Originally proposed in 1982• Being built under a Comprehensive
Development Agreement– Design/build process– Contractor assumes risk– Guaranteed maximum price of $166 million– Guaranteed completion March 2007– Public involvement activities included
• Originally proposed in 1982• Being built under a Comprehensive
Development Agreement– Design/build process– Contractor assumes risk– Guaranteed maximum price of $166 million– Guaranteed completion March 2007– Public involvement activities included
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Benefits of CDA ProcessBenefits of CDA Process
• Fosters innovation• Best value approach• Expedited schedule• Reduced risk
• Fosters innovation• Best value approach• Expedited schedule• Reduced risk
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Sources of FundingSources of Funding
Senior Lien BondsSenior Lien Bonds $167,967,611$167,967,611
BANS (Bond Anticipation NotesBANS (Bond Anticipation Notes)) $66,000,000$66,000,000
TxDOT EquityTxDOT Equity $64,700,000$64,700,000
Local Contributions (Right-of-Way)Local Contributions (Right-of-Way) $18,000,000$18,000,000
TIFIA LOAN$66,000,000
TIFIA LOAN$66,000,000
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Next Project – 290ENext Project – 290E
• 5.6 to 9 mile project running from U.S. 183 to SH 130 with possible extension past Manor to FM 973
• First segment replicates CDA arrangement on 183A
• Second segment planned as a concession
• 5.6 to 9 mile project running from U.S. 183 to SH 130 with possible extension past Manor to FM 973
• First segment replicates CDA arrangement on 183A
• Second segment planned as a concession
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Texas’ First Concession Agreement – SH 130Texas’ First Concession Agreement – SH 130
• SH 130 – Part of Trans Texas
Corridor– Cintra-Zachry financing
completion from Austin to Seguin
– $25 million upfront concession payment
– TxDOT to share toll revenue, eventually reaching 50/50 split
– Southern half financed under CDA agreement and managed by TxDOT
• SH 130 – Part of Trans Texas
Corridor– Cintra-Zachry financing
completion from Austin to Seguin
– $25 million upfront concession payment
– TxDOT to share toll revenue, eventually reaching 50/50 split
– Southern half financed under CDA agreement and managed by TxDOT
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The Central Texas ApproachThe Central Texas Approach
Mike HeiligensteinExecutive DirectorMike HeiligensteinExecutive Director