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If You Want A Policy “Crisis,” How About Infrastructure Funding?

If You Want A Policy “Crisis,” How About Infrastructure Funding?. Steve Heminger, Executive Director Metropolitan Transportation Commission IMN California Conference February 18, 2005. Public Transit on the Rise.

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If You Want A Policy “Crisis,” How About Infrastructure Funding?

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  1. If You Want A Policy “Crisis,” How About Infrastructure Funding? Steve Heminger, Executive Director Metropolitan Transportation Commission IMN California Conference February 18, 2005

  2. Public Transit on the Rise • Increase in the share of work trips by transit, though small by percentage terms, represents a significant increase in the number of additional people taking transit • The net increase in 2030 represents an additional 108 million transit riders each year

  3. Traffic Congestion Persists • Bay Area drivers made an estimated 21 million trips in 2000, up 3 million trips from 1990 • The length of the average trip has increased from 25.6 minutes in 1990 to 29.4 minutes in 2000 • Recent dip in traffic congestion is recession-related

  4. Gas Tax is a Goner • Increases in transit ridership and traffic congestion will put significant strains on traditional funding stream • In real terms, revenue from fuel taxes is inadequate even to maintain the existing system

  5. We’re in Maintenance Mode • $118 billion 2030 funding plan is primarily focused on maintaining and operating the existing transportation system

  6. More Potholes Ahead • Road maintenance costs are expected to be $16.7 billion with expected revenue of only $10.6 billion, a funding level of only 64% of projected needs

  7. New Trains and Buses Needed • Capital replacement costs are projected at $16.2 billion with revenue of $13.4 billion leaving an unfunded need of $2.8 billion • BART makes up the largest share of the shortfall at $1.4 billion

  8. Even State Highways are Crumbling • SHOPP funding needs are estimated at $14 billion with about $7 billion in funding • Magnitude of funding shortfall suggests more delays in maintenance programs • Delay in maintenance will increase road repair costs adding to congestion and delays

  9. Budget Bottleneck • General fund raids on transportation accounts delay critical expansion projects • Proposition 42 has been a promise unfulfilled

  10. County Sales Taxes (Excluding Santa Clara Co.) Proposed New Santa Clara High-Occupancy/Toll Regional Gas Fee Vehicle Registration Fee BART Property Tax High-Speed Rail Bond SMART District Tax AC Transit Parcel Tax Is There Gold at the End of the Rainbow? • There are a number of voter initiatives and fee structures that can be applied to the funding shortfall • One of the most promising new revenue sources is the use of high occupancy toll lanes which offer both “congestion insurance” and new financing opportunities for major projects Approved by voters in November 2004 Requires further action

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