TOP CAPITAL PROGRAMS - Arizona .TOP CAPITAL PROGRAMS ... McCormick Ranch Fire Station ... $19M...

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Transcript of TOP CAPITAL PROGRAMS - Arizona .TOP CAPITAL PROGRAMS ... McCormick Ranch Fire Station ... $19M...

  • 5/17/2017

    1

    TOP CAPITAL PROGRAMSTOP CAPITAL PROGRAMS

    By Rebekah MorrisArizona Builders Exchange, LLC

    rmorris@azbex.com

    Grateful to not be in California My hometown faces a $70M state-

    dictated pension contribution

    Drastically reducing Capital

    Improvement Plan, cutting funding to

    all outside agencies

    Raising sales tax, hotel tax, and utility

    users tax at the same time.

    $70M/44K people = $159/person

    LOMPOC, CA

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    Thankfully, were in Arizona

    Tax revenue is climbing HURF, sales tax, property tax, etc.

    Tax increases (sales tax mostly) are gaining in popularity while bonding capacity

    hinders that once-prominent public finance mechanism

    Stable budgets and good calm economies are creating a great environment for

    Capital Spending

    Projects tied to enterprise funds and maintenance continue to have positive outlook

    CONCLUSION:

    Collectively, the Top Programs are showing a 10.14%

    increase in the 5-yr total, which will go higher as programs are

    approved and adopted

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    TOP CAPITAL PROGRAMS

    1. ADOT $4.957B2. City of Phoenix $4.582B3. Valley Metro $1.542B4. City of Mesa $1.153B5. Town of Gilbert $957.5M

    6. Scottsdale $584.2M7. Chandler $522.0M8. Peoria $499.4M9. Glendale $476.1M

    Notably Absent: Maricopa County ($1.3B), Tucson ($850M), Tempe ($475M) (last years totals)

    TRENDS OVER TIME

    0

    1000

    2000

    3000

    4000

    5000

    6000

    7000

    ADOT Phoenix Valley Metro Mesa Maricopa County Gilbert Tucson Scottsdale Glendale Chandler Tempe Peoria

    Historical View of 5-yr CIP Totals

    FY13 FY14 FY15 FY16 FY17-21 ($M) FY18-22 ($M)

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    ADOTADOT 8.98% year over year increase

    Last year the FAST Act passed at the

    Federal level, providing stability to

    long-term transportation planning

    HURF revenue is growing modestly,

    sweeps by the State are winding

    down

    Airport Projects still shown outside

    the STIP state funded airport

    projects declined this year by $84M STATE ROUTE 30 MAP

    LOOP 202 SOUTH MOUNTAIN FREEWAY

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    dit:

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    ADOTPROJECTS OF NOTE

    Widen I-10 to 6-lanes at SR87 to Picacho

    Widen I-17 from Anthem to Sunset Point - $143M

    SR 30 - $112.6M

    SR303/L202 So. Mtn. - $112.6M

    SR143/L202 Santan - $161.3M

    MC 85 at Van Buren - $120M

    $138M - SR 24 from Ellsworth to Ironwood Dr.

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    ADOTPROJECTS OF NOTE (CONTD)

    Pima County I10 at

    Ruthrauff widening & TI

    I-10 & Ina Road

    I-19 & Ajo Way TI

    CITY OF PHOENIXCITY OF PHOENIX 30.34% YOY increase (WOW!)

    T2050, HURF Revenue, Sales Tax

    revenue all are increasing

    Project counts have declined, GO

    bond projects moved to separate

    schedule.

    My opinion: Projects need to move

    forward into the programming, study,

    and planning stages.

    Credit: City of Phoenix

    Credit: Phoenix Sky Harbor International Airport

    TERMINAL 3 REDEVELOPMENT

    PHX SKY TRAIN

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    CITY OF PHOENIXPROJECTS OF NOTE

    Sky Train Stage 2 - $690M

    Terminal 4 S1 Concourse - $250M

    Northwest Light Rail Extension Water

    Relocations- $19M

    South Central Light Rail Extension Ancillary

    Services (Traffic Engineering, Roadway

    relocation, and railway mods) - $48.2M

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    dit:

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    ZBEX

    VALLEY METROVALLEY METRO

    32.58% YOY increase (Top % increase)

    Poster child for speeding things up, accelerating projects instead of delaying them

    This is the peak of activity

    Credit: Valley Metro

    Credit: Valley Metro

    TEMPE STREET CAR

    SOUTH CENTRAL LIGHT RAIL EXTENSION

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    VALLEY METROPROJECTS OF NOTE

    South Central Light Rail

    Extension

    Northwest Light Rail Extension

    Tempe Streetcar

    Capitol/I-10 Phases 1 & 2

    West Phoenix/Central Glendale

    Northwest Phoenix

    CITY OF MESACITY OF MESA 18.85% Decline in the CIP

    Sales tax measure did NOT pass the ballot in 2016, all the unfunded projects have come out

    Future Bond projects for Streets, Water, Wastewater & Parks

    Credit: City of Mesa

    FALCON TECH CENTER

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    CITY OF MESAPROJECTS OF NOTE Fire Stations:

    205: Rebuild 221: Eastmark 222: Battalion HQ 224: NE Mesa 209: Expansion

    Public Safety Training Facility

    Northeast Substation

    Communications Buildout

    PD Headquarters Renovation

    Dont hold your breath theyre all planned for FY 23-25

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    dit:

    City

    of M

    esa

    TOWN OF GILBERTTOWN OF GILBERT 11.69% YOY Increase

    Funds the entire project before starting

    Future Bond issues

    GO Bond 2018 Parks (poss. Streets)

    2020+

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    TOWN OF GILBERTPROJECTS OF NOTE

    $18.4M Heritage Square Parking

    Garage

    $59M Public Safety Training Facility

    $62M Bridge & Roadway on Ocotillo

    Elliot Road Intersection Improvements

    Val Vista

    Cooper

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    dit:

    Mar

    acay

    Hom

    es

    CITY OF SCOTTSDALECITY OF SCOTTSDALE Voters decline to support

    infrastructure spending by the City voting down 4 bond questions in 2013, passing only a $28M question in 2015

    Enterprise funds reign supreme

    Projects Funded out of General Fund

    Most projects are in year 1

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    CITY OF SCOTTSDALEPROJECTS OF NOTE

    $23M Val Vista Community Lake Reconstruction

    $45M Granite Reef Watershed

    McCormick Ranch Fire Station

    Desert Hills Fire Station

    Fire Station 616 110th & Cave Creek Road

    $26.6M to Redevelop Airport Terminal

    $25M Reverse osmosis water treatment Center

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    dit:

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    CITY OF CHANDLERCITY OF CHANDLER 11.84% Decline in 5-yr

    program

    Bond sales from 2007 voter approval to fund Streets, Parks, Museums, and Public Safety

    Philosophy of maintain what we have, dont add to operating expenses C

    redi

    t: Je

    rem

    y Po

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    Rea

    ltor

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    CITY OF CHANDLERPROJECTS OF NOTE

    $6M McCullough-Price Museum

    $4M Southeast Fire Station

    $15.4M Queen Creek Rd McQueen to

    Lindsay

    $11M Chandler Heights Rd Arizona

    Ave to McQueen

    $7.3M Mesquite Groves Park Phase I

    $135M Expansion of Ocotillo WRF

    CHANDLER MUSEUM

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    of C

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    NEW MUSEUM RENDERING

    CITY OF PEORIACITY OF PEORIA

    19.62% Increase YOY

    Northern part of the City is

    pouring in new residents.

    Without impact fees the entire

    City is footing the bill for that

    growth

    Credit:: KPFF

    CITY OF PEORIA COURTHOUSE

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    CITY OF PEORIAPROJECTS OF NOTE $25M Parking Structure at P83 Innovation

    Center

    Renovate Main Library $4.5M

    $42M Northern Community Park

    $9M Fire Station #8 5+ years out

    $19M Widening of Happy Valley Parkway

    LPP to Aqua

    $24M Jomax WRF Expansion FY 21/22

    $55M Pyramid Peak WTP FY18-21Credit:: Peoria Eighty Three

    CITY OF GLENDALECITY OF GLENDALEMany Projects are pushed out

    past 5-yr horizon

    High debt load from sports facilities, once that moves off the books, I expect things to speed up

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    GLENDALE COURT HOUSE RENDERING

    UNIVERISTY OF PHOENIX STADIUM

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    .com

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    CITY OF GLENDALEPROJECTS OF NOTE

    $7M Parking Lot BHR & 95th Ave

    Arrowhead Water Reclamation Facility Improvements

    West Area WRF Improvements

    Cholla Water Process Improvements

    Pyramid Peak Water Treatment Plan

    Light Rail Design

    Beyond 5-yr Outlook Libraries Fire Stations Police Stations Court Building Parks Trails Pools & Aquatic Center Upgrades Flood Control Loop 101 Water Treatment Plant 59th Ave Improvements Light Rail Construction ($99M)

    Current 5-yr Outlook

    CONCLUSIONSCONCLUSIONSLet the Good Times Roll!

    Bonds arent the only game in town anymore

    Programs with high levels of revenue will likely move projects into

    planning/design

    Macroeconomic trends of population growth and employment growth

    are helping.

    Federal Infrastructure Investment is Wildcard