DOCSLIB.ORG

Annual Report 2004 an Increasing

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Annual Report 2004 an Increasing annual report 2004 an increasing Night traffi c on CityLink’s gateway fl ow of distributions increasing returns Transurban Group paid a total distribution to investors of 25.5 cents per security in 2003-04, fulfi lling its commitment to deliver increasing returns from the company’s cornerstone asset, CityLink. 6% traffic 10% revenue 27. 5% distributions opportunity 3 developing assets 19 strategy 5 prospects 21 structure 7 partnerships 25 report 9 governance 29 operating assets 15 fi nancials 39 contents annual report 2004 1 Electronic tolling unlocks further opportunity for companies like Transurban. Architectural sound wall on CityLink opportunity The growing number of retail investors on the Transurban Electronic tolling therefore unlocks further opportunity Group’s register refl ects the company’s appeal as an for companies like Transurban. It makes many projects infl ation protected investment, which has produced possible in cities all over the world—projects that could strong distributable cash fl ows as well as growth. not go ahead with manual tolling. Australia has a long history of toll roads. Over many A number of critical factors provide the basis for carefully decades they have maintained traffi c and revenue planned growth of the company: growth through successive economic cycles. g expanding opportunities as governments turn to the The success of CityLink, Transurban’s 22 kilometre toll private sector to help meet community and business road in Melbourne, demonstrates that full electronic toll demands for new roads and infrastructure; roads can deliver better service—such as time savings— g the expertise in full electronic tolling and customer than manual toll roads where drivers have to stop to pay. service that Transurban developed on CityLink; The electronic tolling system and customer service on g Transurban’s ability to maximise returns through CityLink are the keys to its success. The road has continuous improvement and innovation; and multiple on and off ramps in inner suburbs where land g the appeal to governments of Transurban’s is in short supply. There would not have been enough partnership approach to its relationships room for toll plazas and manual tolling would have with communities. slowed the traffi c, making the project very ineffi cient. This last point is increasingly signifi cant as governments recognise the importance of the owner/operator to the success of a full electronic toll road. Continuing economic Transurban takes a ‘whole of life’ approach to projects, growth generates working in partnership with governments and communities to earn the best returns for investors and the need for major the best outcomes for the people who use its roads. infrastructure. This approach recognises that equity investors are responsible for operating the road, tolling system and Governments are customer service for 30 years or more. For that reason, Transurban believes it is important for equity investors to increasingly turning to be involved from the outset. This will ensure they have a role in allocating and managing project risks even before the private sector to the road opens. fi nance, develop and On some projects, the bank and contractor bid for and manage new road develop the project, and the equity investor is only involved much later, when they are exposed to risks that have infrastructure. been negotiated by others. annual report 2004 3 Transurban will pursue the most promising new development projects. A CityLink on-ramp and overpass from below strategy The Transurban Group’s strategy for investors is With a Group market straightforward: Deliver increasing distributions from our capitalisation approaching operating assets and pursue the most promising new development projects with our strong focus on $3.3 billion, Transurban is risk management and a ‘whole of life’ approach. a major investor in The strong performance of our cornerstone asset, Melbourne’s CityLink, has underpinned rising toll roads in Australia. distributions to security holders in recent years. Now, Transurban has a developing asset in Sydney— The company is now Westlink M7—which is on track to deliver even more value. leveraging its considerable Transurban’s policy is to steadily increase distributions expertise to create new half yearly in line with distributable cash fl ow generated growth opportunities by the business. in Australia and overseas. The strategy for growth in Australia will closely follow the CityLink model. The company will look to build, own and operate future toll roads. These projects will be delivered on a value accretive basis. Our approach overseas will differ slightly, as Transurban plans to capitalise on its tolling expertise. If successful in an overseas tolling project, Transurban will charge an upfront licence fee for its central tolling system, plus ongoing licence, consulting and management fees. If equity is required for an overseas project, it is expected to be raised primarily in the market in which the project is located, with Transurban earning a management fee. annual report 2004 5 Transurban’s capital structure is designed to maximise after-tax returns to our security holders. A section of CityLink’s sound tube structure triple stapled securities tax deferred distributions Transurban is capitalised through a triple stapled security, Transurban expects to be able to pay 100 per cent tax which is designed to maximise after-tax returns to deferred distributions until the end of 2005. This would security holders. be extended if Transurban’s argument that Concession Fees payable to the State of Victoria are tax deductible Stapled securities are made up of securities in two is accepted by the Federal Court. (or more) separate entities, and they cannot be traded separately. Tax deferred means that the distribution is not assessable for income tax, but each security holder’s cost base for Transurban’s triple stapled securities comprise shares capital gains tax purposes will be reduced by the amount in Transurban Holdings Limited, units in Transurban of the distribution received. Holding Trust and shares in Transurban Infrastructure Developments Limited. Security holders have an equal This benefi t is derived from Transurban’s Trust structure number of units in each. and relates to the accounting losses the company has recorded. Some of the other benefi ts of the triple staple structure include: From 2006, distributions are expected to be partially tax deferred. g providing fl exibility to raise debt and equity for pursuing future projects and investments; and Triple staple security g allowing the different risk profi les of mature and new Transurban Transurban Transurban assets to be held in different vehicles—which creates Holdings Holding Intrastructure Limited Trust Developments the option of listing those vehicles separately if (‘THL’) (‘THT’) Limited (‘TIDL’) shareholder returns are maximised. profi t, loss and cash fl ow Infrastructure projects require a huge amount of capital Transurban Transurban Infrastructure Transurban CityLink CityLink to develop. This capital is depreciated evenly over time, CARS Trust Management (WSO) Melbourne Trust Pty Ltd (‘TCT’) Limited Limited while revenue is lower at the start and grows over time. (‘TIDL’) For this reason, developers like Transurban expect to Melbourne The responsible entity CityLink Project for Transurban Holding report accounting losses in a project’s early years. Trust & Transurban Transurban CityLink CARS Trust WSO Trust Extension In accounting terms, Transurban expects to record a (‘TWT’) Pty Ltd profi t in 2008-2009. Until then, non cash items such as Exhibition Street depreciation will mean we report a loss each year. Extension Project WSO Co. WestLink Pty Ltd Motorway Investors should remember that it is not the level of Partnership accounting profi t that impacts distributions, but the level of free cash fl ow. The greater the cash fl ow, the greater the distributions. annual report 2004 7 Transurban investors can look forward to steadily increasing distributions and carefully planned growth. CityLink gateway in close up report Operating costs continued to come under scrutiny. chairman and managing Greater effi ciencies in the processing of video images of vehicle licence plates will save about $250,000 director’s overview a year. Programs to move customers to low cost communication channels such as the internet saved about $130,000 in 2003-04. A switch to a new call centre contractor will produce signifi cant savings while increasing service levels. A number of new projects currently under way will further increase revenue and cut costs. One of the most signifi cant will see the installation of additional cameras to capture images of rear number plates as well as the laurence g cox kim edwards front ones we now process. chairman managing director Transurban has made a commitment to investors that it Distributions were will deliver a growing stream of distributions. In 2003-04 we delivered on that commitment with a distribution of underpinned by a strong 25.5 cents per stapled security, an increase of 27.5 per performance from our cent on the previous year. The total distributed to security holders for 2003-04 is $134.7 million, up from cornerstone asset, CityLink. $103 million. The distributions were underpinned by a strong performance by Transurban’s cornerstone asset, Dual numberplate images will allow us to automate CityLink in Melbourne. Traffi c on CityLink increased the bulk of the video imaging currently used to charge 6 per cent over the year and revenue grew by customers who do not have an e-TAG® device installed 10.1 per cent. Under Transurban’s agreement with the in their vehicle. This will substantially cut labour costs. Government of Victoria, tolls on CityLink will increase each year by 4.5 per cent or the infl ation rate, whichever The dual camera program will also allow us to design is higher, until 2015 and by the infl ation rate thereafter. better and cheaper products for occasional users of the road, which we believe will attract more customers.
Load more

Recommended publications
  • Rivercity Motorway Rivercity Rivercity Motorway Product Disclosure Statement Disclosure Product
    RIVERCITY MOTORWAY RIVERCITY MOTORWAY PRODUCT DISCLOSURE STATEMENT PRODUCT DISCLOSURE STATEMENT FOR THE OFFER OF STAPLED UNITS IN RIVERCITY MOTORWAY INVESTMENT TRUST (ARSN 119 128 326) AND RIVERCITY MOTORWAY HOLDING TRUST (ARSN 119 128 193) THE ISSUER RIVERCITY MOTORWAY MANAGEMENT LIMITED (ABN 33 117 343 361 AFSL 297 867) LEAD MANAGER AND UNDERWRITER ABN AMRO ROTHSCHILD OFFER SUMMARY 2 CHAIRMAN’S LETTER 3 INVESTMENT HIGHLIGHTS 4 1. SUMMARY OF THE OFFER 17 2. DETAILS OF THE OFFER 25 3. IMPORTANCE OF THE TUNNEL 31 4. CONSTRUCTION AND OPERATION OF THE TUNNEL 37 5. CORPORATE STRUCTURE AND TAXATION 45 6. BOARD AND MANAGEMENT 53 7. FINANCIAL ANALYSIS AND INFORMATION (INCLUDING FEES AND COSTS) 59 8. RISK FACTORS 71 9. EXPERTS’ AND CONSULTANTS’ REPORTS 77 10. ADDITIONAL INFORMATION 115 11. GLOSSARY 139 12. APPLICATION FORMS 147 CORPORATE DIRECTORY IBC This period may be extended by ASIC by up to a further NO COOLING OFF RIGHTS If you do not provide the information requested in the seven days. The Exposure Period enables the PDS to be There is no statutory cooling off right for investors in Application Form, the Issuer and the Registry may examined by market participants prior to the raising trusts that are listed or are to be listed within three not be able to process or accept your Application or of funds. Applications received by the Issuer during the months of the date of the disclosure document. The administer your holding of Stapled Units appropriately. Exposure Period will not be processed until after the Issuer will apply no later than seven days after the date Access to your personal information may be provided expiry of that period.
    [Show full text]
  • Glovebox Guide to Tolling
    Useful contacts Using a rental car on a toll road Sydney Motorways website Most major rental car companies can provide www.sydneymotorways.com a tag or arrange a pass when you hire a vehicle. For trafc conditions If you need to arrange a pass yourself, be Trafc information line 13 27 01 Transport for NSW or www.livetrafc.com careful to record the vehicle’s correct state of registration as it could be from interstate. General enquiries 13 22 13 (8:30am-5:00pm Mon-Fri Glove box & 8:30am-noon Sat) What happens if I use a toll road or www.rms.nsw.gov.au without a tag or pass? guide to Tolling Major construction 1800 633 332 If you use a toll road without a tag or projects information line pass you will need to arrange payment by contacting a toll provider within three days Emergency – Police, Fire, Ambulance 000 of your frst trip. Otherwise you will receive Police assistance line 13 14 44 a toll notice requesting toll payment and an administration fee. Tag and pass providers Where can I fnd more information Tag and pass providers in NSW: about tolls and toll roads? • EToll – 13 18 65 or myetoll.com.au The Sydney Motorways website provides • Linkt – 13 33 31 or linkt.com.au a one stop shop to calculate your tolls and • E-Way (tag only) – 1300 555 833 learn more about tolling. or tollpay.com.au If you’re using a toll road in Queensland or For more information Victoria and don’t have a tag, you will need visit www.sydneymotorways.com to arrange a pass from a local provider.
    [Show full text]
  • Toll Roads - National Cover Australian Toll Roads
    Toll Roads - National Cover Australian Toll Roads Roam Express offers a visitor e-pass which is valid for up Please be aware that toll fees apply on some roads in to 30 days on all Australian toll roads. Australia. A visitor E-Pass can be set up before or within 48 hours of You will likely encounter toll roads if you are driving through your first trip to cover travel on all Australian toll roads. Metropolitan New South Wales, Queensland and Victoria. When driving a thl rental vehicle in Australia you are responsible for paying toll fees, so it is important to be aware of these roads before you travel. As most toll roads in Australia Roam Contact Details are electronically tolled, you will not be able to stop and pay Ph: 13 76 26 cash. www.roamexpress.com.au Please refer to this brochure which provides an overview of all International Callers: +61 2 9086 6400 Australian toll roads as well as information on how to pay for toll travel. Bitte beachten Sie, dass einige Strassen Zahlungspflichtig 17 16 15 Castle Hill 14 sind in Australien. 13 Die Mautstrassen befinden sich in New South Wales, Queensland 18 10 12 M2 und Victoria. 11 9 Manly Wenn Sie ein Wohnmobil von thl gemietet haben in Australien 19 sind Sie verantwortlich die Gebuehren zu zahlen, deshalb ist es 44 20 Paramatta 8 wichtig dass Sie sich ueber diese Strassen informieren. Die moisten 21 7 Mautstrassen sind elektronisch und Sie koennen nicht Bar bezahlen 22 Harbour 6 oder anhalten. Eastern Bridge 5 Sydney 4 Bitte beachten Sie die Broschure die Sie in Ihren Unterlagen Creek M7 CBD 2 3 bekommen wo diese Strassen sind und wie Sie bezahlen koennen.
    [Show full text]
  • Download the Documents from the Smart Jobs and Careers Website At
    QueenslandQueensland Government Government Gazette Gazette PP 451207100087 PUBLISHED BY AUTHORITY ISSN 0155-9370 Vol. 348] Friday 13 June 2008 The Queensland Government spends over $100 million per year on office supplies! SDS is the only Queensland Government So, even if your agency has a contract owned supplier of office consumables with another supplier, why not give SDS and furniture and our mission is to “a go” outside the basket of goods? ensure you get value for money! We offer excellent service, quality products, highly competitive pricing and SDS is committed to helping government a long term, sustainable value package agencies spend wisely, and spend less, for Queensland Government buyers. not more. Did you know, you can buy from us without 3 quotes and without Call the friendly SDS Customer Service going through a tender process? team on 1800 801 123 now! SDS Service, solutions and savings! Queensland Government Department of Public Works [811] Queensland Government Gazette Extraordinary PP 451207100087 PUBLISHED BY AUTHORITY ISSN 0155-9370 Vol. 348] Thursday 5 June 2008 [No. 38 NOTICE Premier’s Office Brisbane, 5 June 2008 As Premier, I notify that, acting under the provisions of the Constitution of Queensland 2001, I have appointed the Honourable Frederick Warren Pitt MP, Minister for Main Roads and Local Government to act as, and to perform all of the functions and exercise all of the powers of, Minister for Natural Resources and Water and Minister Assisting the Premier in North Queensland any time during the period from 2 June 2008 until 15 June 2008 when the Honourable Craig Andrew Wallace MP is on leave.
    [Show full text]
  • An Investigation of the Causes of Over-Optimistic Patronage Forecasts for Selected Recent Toll Road Projects 8 December 2011
    Revised Final Report Department of Infrastructure and Transport An investigation of the causes of over-optimistic patronage forecasts for selected recent toll road projects 8 December 2011 Executive Summary The Australian Government Department of Infrastructure and Transport is investigating the causes of over-optimistic patronage forecasts with the purpose of identifying potential remedies. This report contributes to that investigation via case studies of selected toll road projects to identify challenges in processes and opportunities for improvements, so that lessons from the past may guide practice in the future. Two major cases CityLink (Melbourne) and Lane Cove Tunnel (Sydney) with two supporting cases Westlink M7 (Sydney) and the Go Between Bridge (Brisbane) were chosen for coverage of geography, timing, physical characteristic and forms of funding. Desktop research supported by interviews with stakeholders covering the spectrum of stakeholders in the road procurement process found: PPP bidding processes for toll roads lead to selection of the most optimistic of optimistic forecasts: Government forecasts, erring on the high side to avoid under-estimating environmental impacts, may set a forecast ‘floor’ Traffic modellers in bid teams produce a ‘low’ forecast above this floor for debt lenders and a ‘high’ estimate of possible returns for those taking equity Equity forecasts are submitted with bids and the highest forecast almost always wins. Four-step models used in most toll road forecasts: Have some intrinsic positive biases when modelling toll road patronage More importantly they provide many opportunities for optimistic selection of parameters Optimism can more easily occur in the absence of data for example about values of time or traffic flow by day of week and month of year; and Estimates of ramp up in traffic after opening may be especially subject to optimism; and/or Deliberate selections to raise forecasts, such has high growth rates for population or the economy, may be applied.
    [Show full text]
  • Glove Box Guide to Tolling
    Glove Box Guide to Tolling Using a rental car on a toll road Most major rental car companies can provide a tag or arrange a pass when you hire a vehicle. If you need to arrange a pass yourself, be careful to record the vehicle’s correct state of registration as it could be from interstate. What happens if I use a toll road without a tag or pass? If you use a toll road without a tag or pass you will need to arrange payment by contacting a toll provider within 3 days of your first trip. Otherwise you will receive a toll notice requesting toll payment and an administration fee. Useful contacts Sydney Motorways Website www.sydneymotorways.com For traffic conditions Traffic Information Line 13 27 01 or www.livetraffic.com © Roads and Maritime Services RMS General Enquiries 13 22 13 The information in this brochure is intended as a guide only and is (8:30am-5:00pm Mon-Fri & 8:30am-noon Sat) subject to change at any time without notice. It does not replace the or www.rms.nsw.gov.au relevant legislation. Major Construction Projects Information Line 1800 633 332 For further enquiries: rms.nsw.gov.au | 13 22 13 Emergency – Police, Fire, Ambulance 000 July 2013 Police Assistance Line 13 14 44 RMS/Pub.13.265 Cat.No. 4507 1693 Paying tolls If you’re travelling on the Sydney Motorway Network, Sydney Motorway Network chances are you’ll need to pay a toll. From 1 July 2013, all Australian toll roads are cashless. This means you’ll need an electronic tag or pass to pay your tolls.
    [Show full text]
  • Submission to Senate Committee Inquiry Into Operations of Existing and Proposed Toll Roads in Australia
    Submission to Senate Committee Inquiry into Operations of existing and proposed toll roads in Australia This document contains the formal submission made by WestConnex Action Group Incorporated (WAG) to the aforementioned Inquiry. We would welcome the opportunity to appear before the Committee. We also urge the Committee to hold at least one hearing in Western Sydney so that its community has an opportunity to present its views. WAG is a community group made up of residents from across western, inner and southwest Sydney. We are not affiliated with any political party. For enquiries relating to this submission, please contact us at: WestConnex Action Group PO Box 3249 Marrickville Metro NSW 2204 [email protected] 1.0 Terms of reference We note that the terms of reference for the Inquiry are as follows: Operations of existing and proposed toll roads in Australia, including: a. financial arrangements of existing and proposed private toll roads, and transparency, accountability and equity aspects of these arrangements; b. interaction of commercial considerations of private toll road operators with federal and state transport and infrastructure policy; and c. any other related matters. 2.0 Overview of issues covered in this submission 1 Due to the overlapping nature of these terms of reference, we have not dealt with the issue under those specific headings but instead dealt with the issues under the following headings. 1. Tolling regimes are designed to deliver private profit rather than ongoing public benefit. 2. Lack of transparency around tolling arrangements 3. New tolls levied on existing motorways to subsidise other toll roads 4.
    [Show full text]
  • Westconnex Acquisition
    WestConnex Acquisition Transurban equity raising For personal use only For illustrative purposes only and is not indicative of distance, proximity or scale. NOT FOR RELEASE OR DISTRIBUTION IN THE UNITED STATES Disclaimer This investor presentation (“Presentation”) has been prepared by Transurban Holdings Limited (ACN 098 143 429), Transurban International Limited (ACN 121 746 825) and Transurban Infrastructure Management Limited (ACN 098 147 678; AFSL 246585) as the responsible entity of Transurban Holding Trust (ARSN 098 807 419) (together, “Transurban”). This Presentation has been prepared in relation to a pro rata accelerated renounceable entitlement offer of new Transurban stapled securities (“New Securities”) with retail entitlements trading, to be made to: • eligible institutional security holders of Transurban (“Institutional Entitlement Offer”); and • eligible retail security holders of Transurban (“Retail Entitlement Offer”), under sections 708AA and 1012DAA of the Corporations Act as modified by ASIC Corporations (Non-Traditional Rights Issues) Instrument 2016/84 and ASIC Corporations (Disregarding Technical Relief) Instrument 2016/73 (together, the “Entitlement Offer”). Unless the context otherwise requires, capitalised terms and abbreviations have the meaning given in the glossary at the end of this Presentation. SUMMARY INFORMATION This Presentation contains summary information about the current activities of Transurban and its subsidiaries as at the date of this Presentation. The information in this Presentation is of a general nature and does not purport to be complete. This Presentation does not purport to contain all of the information that an investor should consider when making an investment decision nor does it contain all of the information which would be required in a product disclosure statement or prospectus prepared in accordance with the requirements of the Corporations Act.
    [Show full text]
  • PDF Download
    ROADS DRIVING PROGRESS Achieving optimum performance through efficient financing, operational excellence and technological innovation are an increasing focus for the road industry. Improved efficiencies can lead not only to cost savings but also increased usage and extended asset life. With road usage continuing to rise, public and private owners are seeking new sources of capital to keep up with demand. Regulatory change and reform also presents a key business challenge, whilst tackling climate change and the impact of CO2 emissions requires wider consideration of the sustainability impacts of the development and delivery of roads. For each transaction we provide a customised multi-disciplinary team of leading road specialists and regional experts to ensure our clients’ projects are successful. Our team is at the forefront of developing the legal aspects of public private partnership (PPP) projects, establishing and implementing government policy, contributing to legal and industry developments, project evaluation and delivery of infrastructure, road-related technology projects and dispute resolution. This experience gives us a unique insight and understanding to develop innovative solutions, effective delivery models, market-led proposals (unsolicited bids) and M&A transactions, whilst always meeting our clients’ objectives. "They're technically excellent, strategic and practical." – Chambers and Partners 2016 RECENT EXPERIENCE TRANSURBAN GROUP Advising on the implementation of the A$1 billion M1 upgrade in Melbourne and A$550 million M2 widening
    [Show full text]
  • Inquiry Into the Operations of Toll Roads in Queensland Submission No
    Inquiry into the operations of Toll Roads in Queensland Submission No. 159 Page No. 1 Inquiry into the operations of Toll Roads in Queensland Submission No. 159 Page No. 2 Inquiry into the operations of Toll Roads in Queensland Submission No. 159 Who is QTA? Founded in 1907, the Queensland Trucking Association (QTA) is the peak industry body for road freight operators in Queensland. Our purpose is to advocate for a productive, efficient and safe industry with a strong unified voice. We are recognised by the Queensland Government as the pre-eminent state road freight transport industry association and are a founding member of the Australian Trucking Association (ATA). For 110 years, our organisation has supported transport as a lynchpin of the economy. We have supported Queensland’s infrastructure development, fostered innovation in road and transport technology, and helped ensure that regulation keeps pace with and encourages industry improvement. Our priorities are to ensure effective freight networks and infrastructure, encourage innovation and efficiency, foster partnerships between industry and government, and reduce regulatory burden. Why QTA cares about this issue The QTA welcomes the committee’s inquiry. It is important that Queenslanders have confidence in the planning and operation of our roads network, including the toll roads that represent some of our most heavily-used road infrastructure. Toll roads have played a significant role in Queensland transport and the state’s economy. The state has a long history of toll roads that have improved transport for all the community, including heavy vehicles. In the 1920s, the Springbrook-Mudgeeraba Road was built and operated as a toll road until 1945.
    [Show full text]
  • RACQ Review of Toll Road Signage in South East Queensland
    Toll Road Review The primary objective of this review of South East Queensland (SEQ) toll roads was to assess the adequacy and effectiveness of toll road price, payment and contact information signage from a motorist‟s perspective. To do this, RACQ travelled on every toll road in Australia and evaluated the quality of signage, as summarised below: Signage frequency Signage Contact Price 3 days to pay signage Toll road & location clarity details signage (2 days Sydney) Clem7 adequate good poor very poor very good Go Between good adequate good very poor very poor Gateway good poor good very poor adequate Logan good good good very poor adequate AirportlinkM7 adequate good poor very poor very poor Sydney good good good very good adequate Melbourne good very good good very poor adequate These findings are based on personal observations. While every effort was made to observe all signage on the roadside, in some cases specific signs may have been missed. This could be the case in instances where the landscape was „busy‟ and there were a number of different signs clustered together. Toll roads are big business. Around 330,000 toll trips are made daily in SEQ, generating toll revenue in excess of $1 million each day. The quality of toll road signage is important because it impacts on a specific issue of concern for motorists: choice. In order for motorists to make an informed choice, at the point of purchase, about whether to use a toll road there needs to be clear signage outlining the conditions and cost of using the road.
    [Show full text]
  • September 1, 2011
    clrY couNqL Laura Olhasso, Mayor Donald R. Voss, Mayor Pro Tem ii Gregory C. Brown Slephen A. Del Guercio David A. Spence Funrruocn Mr. Mike Jones Regional Planner Southem California Association of Governments 818 W, 7h Street, 12ù Floor I-os Angeles, CA 90017-3435 SUBJECT: ul-710 Missing Link Truck Study" Comments Dear Mr. Jones: Backeround: The City of La Cañada Flintridge has reviewed the Draft Final Report for the I-7I0 Missing I ink Truck Study prepared by Iteris dated lNlay 2009. In addition, City staff has participated in several meetings hosted by the Arroyo-Verdugo Subregion regarding this Study. This Study was commissioned by the Southern Califomia Association of Governments (SCAG) to further exnmine the poûential vehicle and tn¡ck impacts on the surrounding freeway and roadway network if a tunnel was constn¡cted between the existing northerþterminus of the SR-710 FreewayinAlhambra andthe I-210ISR- 1 34 frceway interchange in Pasadena. SCAG has emphasized that this study is technical and comparative in nature and is not meant as a recommendation either for or against a freeway tunnel. Citv Comments: The City's primary objections are the assumptions made in the preparation of the Study and unilateral recommendations of its conclusion. We question the usefulness and inænt of the Study's findings, and are concemed about the myopic analysis made without consideration of the larger context of the alternatives and effects on regional traff,rc. But most importantly, the City also questions the usefulness of constructing the tunnel, since, based on the study's findings, if the In response to SCAG's request for comments on the draft Final Report, the following detailed comments have been prepared after a review of the Study and listening to the technical consultant presentations.
    [Show full text]