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Pre-Development Agreement Development
Environmental Review
P3 Procurement
Non-Tolled SR 156 Opens for Service
Tolled SR 156 Opens for Service
Environmental Impact Report/FONSI Signed Jan 31, 2013
Caltrans and TAMC nominates project and submits the Project Proposal Report to the California Transportation Commission for approval
Commercial Close on PDA
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Assuming Traditional State-Federal Funding
TAMC Board of Directors
votes on tolling
Funding Options
- No federal earmarks or stimulus
- Limited state monies
- Slow development = low fees
- Local sales tax
- Tolls – worth studying
Caltrans conducted the private industry workshop December 2013
Issue Request for Qualifications (RFQ)
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2018
2016
2020
2021
2034?
2012
2014
P3 Design-Build
Supplemental EIR
Utilizes Traffic and Revenue Study and other data developed in the PDA
"Sketch-level" Tolling Traffic & Revenue Study
June 2013
- Update current design to incorporate tolling
- Develop Operation and Maintenance Plan
- Investment Grade Traffic and Revenue Study
- Complete Socioeconomic Analysis
- Final Design
- Permits
- Right-of-Way
- Construction
Electronic Toll Collection: No Stops
Key Success Drivers
Advantages of Public-Private Partnerships
California P3 Authority
P3 Procurement Process under Streets and Highways Code section 143
Key Features of a Public-Private Partnership
What is a Public-Private Partnership?
Acceptability:
- Consensus on public policy objectives and need for the project
- Public’s desire for accountability is addressed and the public is kept informed
- Benefits of alternative delivery and financing structures vs. traditional approaches have been demonstrated
- Caltrans screens a project and conducts an industry outreach
- Caltrans issues a Request for Qualifications (RFQ)
- Caltrans and TAMC nominates project and submits the Project Proposal Report to the California Transportation Commission for approval
“Public-Private Partnerships are contractual agreements formed between a public agency and a private sector entity that allow for greater private sector participation in the delivery and financing of transportation projects.”
- Federal Highway Administration (FHWA)
- Senate Bill 4 (SBX2 4) amended Streets and Highways Code section 143
- Authorizes Caltrans and regional transportation planning agencies (RTPAs) to implement transportation projects through a P3 delivery method
- Statute sunsets on January 1, 2017
“A Public-Private Partnership is a contractual agreement between a public agency and a private sector entity…(through which) the skills and assets of each sector are shared in delivering a service or facility... In addition to the sharing of resources, each party shares in the risks and rewards potential…”
- National Council for Public-Private Partnerships
- Optimize Risk Transfer
- Attain Schedule and Cost Certainty
- Reduces initial public capital investment
- Lifecycle Cost Efficiency/Performance
- Competitive Tension to Drive Value
- Leveraging state capital and resources
- Affordability
- Value for money (cost and time saving)
- Whole-life costing approach
- Output/outcome driven solution
- Risk allocation
- Innovation
- Competition
Governance and procurement:
- Statutory authority for project and anticipated public private partnership agreements
- Transparent, responsive procurement process to ensure level playing field
- Public sector negotiators supported by knowledgeable and effective staff or advisors
Financial Feasibility:
- The project draws the private-sector’s appetite while achieving the objectives of the public sponsor
- The economics of the project have been considered from the private sector’s perspective
- Available federal TIFIA funding
California Transportation Commission approves nominated project based on the following statutory performance objectives:
- Improved mobility
- Improved operation or safety
- Air quality benefits
- Address known forecast demand