Meeting Body
PLANNING AND PROGRAMMING COMMITTEE
APRIL 14, 2021
Subject
SUBJECT: EXPRESSLANES 2021 PROGRAM AND NET TOLL REVENUE GRANT PROGRAM UPDATE
Action
ACTION: RECEIVE AND FILE
Heading
RECOMMENDATION
Title
RECEIVE AND FILE report on update regarding significant projects and initiatives underway in the Metro ExpressLanes program.
Discussion
DISCUSSION
* Toll Revenue and Volume
The COVID-19 pandemic has had a significant impact on the ExpressLanes system. Over the past year, vehicle volumes in the ExpressLanes are approximately 60 percent lower than the baseline period from March 2019 to February 2020. Toll revenues are approximately 80 percent lower than the baseline period. Both volumes and revenues are recovering but neither number is expected to return to pre-COVID levels until at least 2022.
Prior to the Pandemic, ExpressLanes revenue has been trending lower year over year. In Fiscal Year (FY) 2016 ExpressLanes revenue was $72.8 million, in FY 2018 that number was $69.88 million, and in FY 2020, which includes approximately 15 weeks of COVID-19 reduced revenues, the annual revenue was $55.34 million.
* Net Toll Revenue Grants
In July 2014, the Metro Board approved 20 projects totaling $19,854,458 as part of the Round 1 Net Toll Revenue Grant program. In August 2016, as part of the Round 2 Net Toll Revenue Grant Program the Metro Board approved 21 projects totaling $27,854,525. As of January 2021, 38 percent of the 2014 funding remain unspent, and 67 percent of the 2016 cycle is waiting for invoices from the applicants. Overall 55 percent of the money remains unspent.
The San Gabriel Valley Council of Governments (SGVCOG) has indicated it would like its near-term priority to be used for constructing the I-10 extension. The Cities along I-110 have not made any formal prioritization beyond the projects awarded funding in 2014 and 2016. As the financial headwinds caused by the Pandemic are better understood additional funding rounds can be evalu...
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