Miami-Dade 2040 LRTP - Oct. 23, 2014

MIAMI-DADE LONG RANGE TRANSPORTATION PLAN UPDATE TO THE YEAR 2040 Chapter 5 | Putting Our Infrastructure to Work EYES ON THE FUTURE | 5-11 Figure 5-4 | Long Range Planning/ Tolling Nexus Toll Facilities Highway and bridge tolling has long been an efficient, effective, and equitable means for transportation finance and Florida has made good and appropriate use of this financing tool. It is important to note that tolling will likely become a greater focus for transportation in general due to the vast costs associated with improving transportation and providing needed capacity to keep pace with growth and travel demand. In addition, tolling will have a far greater nexus with transportation planning and long range plans as listed in Figure 5-4 . As we gain further experience with tolling nationally and as a region we will also be in a better position to estimate the associated long-term revenue generation with a degree of reliability that will help sharpen our cost feasible transportation planning and help the region to further diversify the revenue base for meeting needs. Miami-Dade County faces far-reaching decisions in the coming months and years about the funding of its transportation needs. Many potential funding options exist that could supplement existing transportation revenues and prevent the deferral of important investments, but each of these options presents challenges for the County that must be addressed. Multimodal Dimension - Toll revenues may now be used to fund public transportation projects making tolling a bona fide multi-modal financing mechanism. Favorable Federal Policy —MAP-21 relaxed many long-standing prohibitions or restrictions that had significantly limited the use of tolling. Tolling may now be used for a much wider range of highway, bridge and tunnel improvements. Demand Managemen t—Tolling and transportation planning have a very strong connection in terms of developing strategic approaches to demand management; congestion pricing can be an effective demand management tool in addition to generating revenue. Toll Pilot Projects —Continued expansion of toll pilot programs suggest that tolling will steadily increase and expand in various ways over the LRTP planning horizon. Technology —As the public has increasingly embraced technology and the various associated systems such as SunPass, tolling will steadily become more widely accepted, particularly if there is a premium service of value being provided. The public is willing to provide goods and services digitally if there is value. The value of tolled facilities for the public comes in various forms including the value of time savings for premium travel. Source: Federal Highway Administration (FHWA)