01023086

Component

The new highway infrastructure-financing concept presented in this paper attempts to maximize social benefits by introducing rush hour tolls before infrastructure investment in order to manage demand, with all surplus revenue dedicated for infrastructure expansion. Not only would the existing highway system operate more efficiently; but so would the improved system. After infrastructure expansion, there would be less pressure to have off-peak tolls – something that may cause needless off-peak traffic diversions and consequent social disbenefits. The model provides up-front toll revenue to help pay for expensive urban freeway expansion projects, making them more financially feasible; and risk associated with uncertainty of toll traffic and revenue forecasts is reduced, reducing financial costs associated with that risk. The approach can facilitate private involvement in the delivery of integrated roadway pricing and transit/HOV systems in metropolitan areas. New public-private partnership approaches are suggested that employ outcome-based contracting systems and financial incentives to maximize public mobility goals. The paper illustrates the new approach through a discussion of its application at the region-wide level.

01020180

06-1300

English

25p

2006

Transportation Research Board 85th Annual Meeting

CD-ROM

Appendices (2) ; Figures (2) ; References; Tables (4)

High occupancy vehicle lanes; Infrastructure; Peak hour traffic; Public private partnerships; Revenues; Toll collection; Toll roads; Transportation planning

Expansion projects; Financial sources

Design; Finance; Highways; Operations and Traffic Management; Planning and Forecasting; Public Transportation; I21: Planning of Transport Infrastructure

Transportation Research Board Annual Meeting 2006 Paper #06-1300

TRIS, TRB

Mar 3 2006 10:38AM