May 2021 mm-Ѵ$u-L1-m7 Revenue Report Fiscal Year 2020 ;;om|$oѴѴ -1bѴbঞ;v Prepared for: CAPE CORAL BRIDGE MIDPOINT MEMORIAL BRIDGE SANIBEL CAUSEWAY Lee County Toll Facilities FY 2020 Annual Traffic and Revenue Report TABLE OF CONTENTS CHAPTER 1 INTRODUCTION TO THE LEE COUNTY TOLL FACILITIES .................. 1 REPORT PURPOSE AND STRUCTURE ............................................................. 1 SYSTEM HISTORY ..................................................................................................... 2 Facility Milestones .............................................................................................. 2 TOLL RATE SCHEDULES ....................................................................................... 5 TOTAL SYSTEMWIDE TRANSACTIONS AND GROSS TOLL REVENUES ................................................................................................................... 7 Fiscal Year 2020 Toll Transactions and Revenues .......................................... 8 Historical Toll Transactions and Revenues ...................................................... 9 ETC PARTICIPATION ............................................................................................. 13 TOLL TRANSACTIONS BY PAYMENT TYPE ................................................. 15 TOLL TRANSACTIONS BY VEHICLE CLASS ........................................ 18 COMPARATIVE PERFORMANCE ............................................................ 19 Other Florida Toll Facilities .............................................................................. 19 AVERAGE TOLL ....................................................................................... 20 PROGRAM SALES .................................................................................... 21 TRANSPONDER SALES ........................................................................... 23 VIOLATION ENFORCEMENT SYSTEM ................................................... 24 CHAPTER 2 REGIONAL ECONOMIC GROWTH TRENDS ................................................. 27 COVID-19 SOCIOECONOMIC IMPACTS ................................................ 28 National Real GDP .............................................................................................. 28 Florida Real GDP ................................................................................................ 28 Unemployment Rates ........................................................................................ 28 Economic Outlook ............................................................................................. 29 HISTORICAL SOCIOECONOMIC TRENDS ..................................................... 30 Population .......................................................................................................... 30 Employment ....................................................................................................... 33 Household Income ............................................................................................ 34 Gross Regional Product ................................................................................... 35 Building Permits ................................................................................................ 36 Table of Contents Lee County Toll Facilities FY 2020 Annual Traffic and Revenue Report TOC 1 Lee County Toll Facilities FY 2020 Annual Traffic and Revenue Report Tourism .............................................................................................................. 38 Short-Term Recent Socioeconomic Statistics ............................................. 40 Employment ....................................................................................................... 40 Gross Retail Sales ............................................................................................. 41 Building Permits ................................................................................................ 42 Cape Coral Development .................................................................................. 42 PROJECTED SOCIOECONOMIC GROWTH ................................................... 44 CHAPTER 3 MIDPOINT MEMORIAL BRIDGE .............................................................. 47 FACILITY PROFILE.................................................................................................. 47 Facility Capacity ................................................................................................ 48 HISTORICAL TOLL TRANSACTIONS AND REVENUES ............................ 48 SEASONAL TRANSACTION VARIATIONS ............................................. 54 DAY-OF-WEEK TRANSACTION VARIATIONS ....................................... 56 HOURLY TRANSACTION VARIATIONS .................................................. 57 FUTURE IMPROVEMENTS AND PLANS ................................................ 58 ANNUAL EVENTS ..................................................................................... 59 CHAPTER 4 CAPE CORAL BRIDGE ..................................................................................... 61 FACILITY PROFILE.................................................................................................. 61 Facility Capacity ................................................................................................ 62 HISTORICAL TOLL TRANSACTIONS AND REVENUES ............................ 62 SEASONAL TRANSACTION VARIATIONS ............................................. 68 DAY-OF-WEEK TRANSACTION VARIATIONS ....................................... 71 HOURLY TRANSACTION VARIATIONS .................................................. 71 FUTURE IMPROVEMENTS AND PLANS ................................................ 73 CHAPTER 5 SANIBEL CAUSEWAY ....................................................................................... 75 FACILITY PROFILE.................................................................................................. 75 Facility Capacity ................................................................................................ 76 Table of Contents Lee County Toll Facilities FY 2020 Annual Traffic and Revenue Report TOC 2 Lee County Toll Facilities FY 2020 Annual Traffic and Revenue Report HISTORICAL TOLL TRANSACTIONS AND REVENUES ............................ 76 SEASONAL TRANSACTION VARIATIONS ............................................. 82 DAY-OF-WEEK TRANSACTION VARIATIONS ....................................... 84 HOURLY TRANSACTION VARIATIONS .................................................. 86 FUTURE IMPROVEMENTS AND PLANS ................................................ 87 CHAPTER 6 NET AND EXCESS TOLL REVENUE ................................................................. 89 NET TOLL REVENUE .............................................................................................. 89 EXPENDITURES AND EXCESS REVENUE ..................................................... 90 Senior Lien Debt Obligation ............................................................................. 90 Renewal and Replacement Fund ..................................................................... 92 Other Debt and Expenses ................................................................................. 93 Interlocal Agreements ....................................................................................... 93 Sanibel Interlocal Agreement ................................................................... 93 Cape Coral Interlocal Agreement ............................................................ 94 Capital Improvement Program ......................................................................... 94 APPENDIX A INTERLOCAL AGREEMENT – CITY OF CAPE CORAL APPENDIX B SETTLEMENT AGREEMENT – CITY OF SANIBEL Table of Contents Lee County Toll Facilities FY 2020 Annual Traffic and Revenue Report TOC 3 Lee County Toll Facilities FY 2020 Annual Traffic and Revenue Report FIGURES 1-1 Location Map ................................................................................................................... 3 1-2 Percent Share of FY 2020 Toll Transactions and Revenues by Facility .................... 9 1-3 Systemwide Annual Toll Transactions and Revenues, FY 1988 - 2020 ................... 11 1-4 Percent Change in Toll Transactions between FY 2019 and FY 2020, by Month – Cape Coral Bridge, Midpoint Memorial Bridge, and Sanibel Causeway .................. 13 1-5 Percent of Toll Transactions by Payment Type by Facility ....................................... 16 1-6 Comparison of FY 2019 and FY 2020, Systemwide Monthly Revenues from Transponder Sales ........................................................................................................ 23 1-7 Comparison of FY 2019 and FY 2020, Systemwide Monthly Transponder Sales ............................................................................................................................... 24 2-1 Monthly Unemployment Rates, 2007 – 2021 ............................................................... 29 2-2 Top Ten Counties, Absolute Population Growth, 2010 – 2020 ................................. 32 2-3 Top Ten Counties, Percent Population Growth, 2010 – 2020 .................................... 32 2-4 Total Units Permitted, 1995 – 2020 .............................................................................. 38 2-5 Lee County Annual Visitors, 2010 – 2020 ................................................................... 39 2-6 Percent Change in