Texas Toll Road Primer Final Report PRC 14-3 F Texas Toll Road Primer Texas A&M Transportation Institute PRC 14-3 F November 2014 Authors David Ellis Brianne Glover Curtis Beaty Nick Norboge Allison Weldon Jeff Borowiec Tim Lomax David Schrank Table of Contents List of Figures ................................................................................................................................. 6 List of Tables .................................................................................................................................. 7 Introduction ..................................................................................................................................... 8 Purpose of the Study ................................................................................................................... 8 Study Scope ................................................................................................................................. 8 Preview of Report Organization/Content .................................................................................... 9 Data Used .................................................................................................................................. 11 Review of Financial Documents ............................................................................................... 11 Texas Legislation and Tolling ...................................................................................................... 12 77th Legislative Session ............................................................................................................ 12 78th Legislative Session ............................................................................................................ 13 79th Legislative Session ............................................................................................................ 14 80th Legislative Session ............................................................................................................ 15 81st Legislative Session ............................................................................................................ 16 82nd Legislative Session ........................................................................................................... 17 83rd Legislative Session ............................................................................................................ 18 Comparative Summary of Toll Revenue by Toll Facility ............................................................ 20 Limitations of the Comparisons ................................................................................................ 20 Toll Revenue Data by Facility .................................................................................................. 20 Comparing Changes in Toll Revenues over Time .................................................................... 21 Toll Rates and Toll Revenues ................................................................................................... 23 Vehicle Mix and Toll Revenues ................................................................................................ 24 Comparative Summary of Average Toll Rate per Mile ............................................................ 25 Comparing Texas Toll Facilities to the Nation ......................................................................... 27 Texas Toll Road Profiles .............................................................................................................. 30 North Texas Tollway Authority ................................................................................................ 30 Facility Development Cost and Financing Structure ............................................................. 32 Historical Revenue Generation .............................................................................................. 33 Dallas North Tollway ............................................................................................................ 36 President George Bush Turnpike ........................................................................................... 37 3 Sam Rayburn Tollway ........................................................................................................... 38 Harris County Toll Road Authority .......................................................................................... 39 Facility Development Cost and Financing Structure ............................................................. 40 Historical Revenue Generation .............................................................................................. 40 Expenses and Obligations ...................................................................................................... 41 Hardy Toll Road .................................................................................................................... 43 Sam Houston Tollway ........................................................................................................... 44 Westpark Tollway .................................................................................................................. 45 Texas Department of Transportation ......................................................................................... 46 Facility Development Cost and Financing Structure ............................................................. 47 Historical Revenue Generation .............................................................................................. 48 Expenses and Obligations ...................................................................................................... 49 Loop 1 North ......................................................................................................................... 51 SH 255 ................................................................................................................................... 52 SH 45 North ........................................................................................................................... 53 SH 130 Segments 1–4 ........................................................................................................... 54 SH 45 Southeast..................................................................................................................... 55 Northeast Texas Regional Mobility Authority .......................................................................... 56 Loop 49 .................................................................................................................................. 58 Central Texas Regional Mobility Authority .............................................................................. 59 Facility Development Cost and Financing Structure ............................................................. 59 Historical Revenue Generation .............................................................................................. 60 Expenses and Obligations ...................................................................................................... 60 Highway 183A Toll Road...................................................................................................... 62 Manor Expressway ................................................................................................................ 63 Cameron County Regional Mobility Authority ........................................................................ 64 SH 550 (Phases I, II, and III) ................................................................................................. 65 Grand Parkway Transportation Corporation ............................................................................. 66 SH 99 Segment E ................................................................................................................... 67 Fort Bend County Toll Road Authority .................................................................................... 68 Fort Bend Parkway ................................................................................................................ 69 4 Revenues and Expenses by Toll Agency .................................................................................. 70 TxDOT-Owned Toll Facilities .............................................................................................. 70 NTTA-Owned Toll Facilities ................................................................................................ 71 HCTRA-Owned Toll Facilities ............................................................................................. 72 CTRMA-Owned Toll Facilities ............................................................................................. 73 Toll Road Impacts on Urban Mobility .......................................................................................... 75 Methodology ............................................................................................................................. 75 Results ....................................................................................................................................... 76 Austin..................................................................................................................................... 76 Dallas-Fort Worth .................................................................................................................. 76 Houston .................................................................................................................................