FINANCIAL PLAN - Pikes Peak Area Council of Governments · State Tax State Buying Power Federal Tax Federal Buying Power The current buying power of the combined $0.40 per gallon

FINANCIAL PLANAchieving the transportation vision identified in this

plan will require new revenues for maintenance, operating, and capital from as-yet-unidentified revenue

sources. This financial plan attempts to prepare an approximate but realistic estimate of both the total

funds available and total program costs.

Table 7-1. Transportation Revenue Comparison

chapter seven. financial plan 7-2

decrease) and that the Millennial generation begins driving at rates more in line with those generations before them (the data shows that they travel no-ticeably less), then funding generated by the gasoline excise tax will decline by approximately one-third. Assuming that the cost of maintenance, operations, and new construction continues to increase at the current rate, then the two-thirds of funds we have available compared to today will purchase 18 percent of what can be purchased today.

Currently, in Colorado, each average vehicle generates approximately 1.7¢ per mile traveled in revenues. The 30-year amortized cost to build, operate and maintain one lane mile of road in the Pikes Peak area is $102,131.33. This means that a two-lane road requires 33,383 trips per day to “pay for itself”;

a four-lane roadway requires 66,767 trips per day, and a six-lane roadway requires 100,150 trips per day. Figure 7-2 shows which roads currently pay for themselves. Given the coming increase in miles per gallon from vehicles, reali-ty dictates that transportation will require new funding sources and strategies.

REQUIREMENTS FOR A FINANCIAL PLAN

The Code of Federal Regulations outlines the elements required to develop a transportation financial plan. MAP-21 requires a financial plan include reve-nues and costs necessary to operate and maintain the roads and associated systems (signals, signage, snow removal, etc.) These costs enable a Metropoli-tan Planning Organization like PPACG to estimate future transportation condi-tions and resources to make the fullest use of existing infrastructure. MAP-21 also requires the financial plan include recommendations on the development of new financing strategies.

The last key requirement is use of “year of expenditure” dollars for planning purposes. This change in methodology accents the reduction in the buying power of transportation revenue that have not previously been accounted for during the planning process.

The CDOT Metropolitan Planning Organization Guidance Manual defines fiscal constraint for regional long-range transportation plans. The guidance states:

Long-range, 20-year regional transportation plans must be “fiscally-con-strained,” and contain only those projects the MPOs can reasonably pay for

finan

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pla

nCHAPTER SEVEN

his chapter describes the anticipated revenues and estimated costs to maintain, operate, and expand the Pikes Peak region’s transportation system from 2015 until 2040. The projects and estimates identified in this T

plan will be reexamined several times prior to implementation to ensure that the financial resources are properly identified and available. The intent of this financial plan is to prepare an approx-imate but realistic estimate of both the total funds available and total program costs.

The financial analysis presented in this chapter meets the federal requirements detailed in Federal Highways’ Moving Ahead for Progress in the 21st Century Act (MAP-21).

Meeting the needs or achieving the transportation vision iden-tified by PPACG’s Moving Forward 2040 Regional Transportation Plan will require new revenues for maintenance, operating, and capital from as-yet-unidentified revenue sources. Projected fund-ing levels are not sufficient to maintain existing functions or serve projected needs resulting from increased regional population and economic growth. Without additional revenues, regional accessi-bility and mobility will deteriorate and infrastructure will decline.

The deterioration of the region’s existing infrastructure will severely constrain the region’s ability to move goods and peo-ple. The gap between requirements and resources is not new, and simply reallocating resources will not close it. After years of under-investment, the region has a backlog of needs, resulting in current investment levels below that needed to sustain, let alone improve, the regional transportation system. The transportation revenue system has not kept pace with inflation, let alone the in-crease in population and economic activity (Table 7-1). Figure 7-1 shows the tax rate per gallon (not price of gas) and the purchas-ing power of that tax indexed using the Colorado Construction Index.

By 2035, the average vehicle on the road will get 54.5 miles per gallon. Optimistically assuming that vehicle miles of travel per driver remain the same as today (the trend shows a continuing

Figure 7-1. Buying Power Indexed to CCI

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The current buying power of the combined $0.40 per gallon of fuel tax in Colorado, using the Colorado Construction Index, and comparing it to the

year each tax was enacted, is $0.14.

Indicator 1992 2014 ChangeCombined State/Federal Taxes per Gallon $0.40 $0.40 0%Avg. Vehicle Miles Travel 8,550 13,476 158%Avg. Cost to Ownperate a Vehicle/Mile $0.37 $0.61 163%Avg. Total Yearly Cost to Ownperate $3,189.15 $8,193.41 257% Avg. Vehicle Miles per Gallon 16.9 24.1 143%Avg. Gallon Used per Year 506 559 110%Avg. Combined Fuel Taxes Paid $204.42 $225.84 110%Percent of Ownperate Paid in Fuel Taxes 6.41% 2.76% -43%Colorado Construction Cost Index 110.89 311.32 281%Statewide Tax Revenues from Gas Taxes 411.8 573.5 139%Purchasing Power from Gas Taxes 1.07 0.706 -0.659%

DRAFT


Figure 7-2. Roads that Pay for Themselves


over the 20-year planning horizon. CDOT and the MPOs cooperatively devel-op resource allocations to be used by the MPOs to prioritize projects in the Regional Transportation Plans. In addition to the fiscally-constrained plan, MPOs may choose to also develop a “preferred” 20-year plan that contains all desirable transportation projects for the region.

MAP-21 requires a new focus on performance and accountability, establishing national performance standards. The development of performance standards in MAP-21 allows states to develop a risk-based asset management plan for the National Highway System.

Since 1991, the Federal Transportation Act has required a continuous, com-prehensive and cooperative transportation planning process. This process involves:

• Transportation Management Areas’ long-range transportation plans;• The congestion management process;• Metropolitan Planning Organization Transportation Improvement Pro-

gram;• A statewide long-range transportation plan; and• A Statewide Transportation Improvement Program.

In states such as Colorado, where the amount of public and Indian lands exceed 5 percent of the total state area, the federal share for projects is in-creased above those outlined in MAP-21. In Colorado, this means that instead of an 80 percent federal share, it is standard to use an 82.79 percent federal share. Once a project is selected to receive federal aid, the project must be developed in accordance with federal requirements and procedures that apply to federal-aid highway projects. Federal-aid highway funding is administered through CDOT, which is responsible for ensuring that federal and state require-ments and procedures are followed. All Federal Highway Administration-fund-ed programs are reimbursement programs for financing transportation projects, meaning locals and states must front the funds and be reimbursed at a later date.

Federal Highway Administration eligible roadways, as defined by MAP-21, are described below:

• The National Highway System • The Interstate System• Non-National Highway System routes which include all other functional-

ly-classified routes (except rural minor collector and local access).

FHWA eligible roadways in the Pikes Peak region are identi-fied in Figure 7-3.

The National Highway System provides an interconnected system of principal arterials and other highways serving ma-jor population centers, international border crossings, ports, airports, public and intermodal transportation facilities, and other major travel destinations. The system meets national defense needs and serves interstate and interregional travel. Routes that must be included on the National Highway System are principal arterials, interstate highways, highways on the Strategic Highway Network, major Strategic Highway Network connectors, and congressional high-priority routes.

MAP-21 allows up to 15 percent of Surface Transportation Program rural dollars to be used on rural minor collectors. All of the National Highway Performance Program funds are for use on all of the National Highway System, including that under jurisdiction of local governments. These funds make up over half of the federal funds available to the Colorado Department of Transportation.

ASSUMPTIONS AND APPROACH TO FISCAL CONSTRAINT

Moving Forward 2040 identifies regional transportation projects and needs beginning in 2015, and extending through 2040. Revenue and expenditures rely on historical revenues from local, state, and federal sources, and assumptions regard-ing future economic, social, and behavioral conditions. PPACG followed the following basic principles in plan development:

• Incorporation of available local agency financial-plan-ning documents.

• Consistency with state planning documents was en-sured. 2040 Program Distribution Planning Estimates prepared by the Colorado Department of Transporta-tion Office of Financial Management and Budget (Sep-tember 2014) were used for available state and federal funds.

• Published data sources were used to evaluate historical trends and augment local information as needed.

CODE OF FEDERAL REGULATIONS 23 CFR 450.322 (10)

A financial plan that demonstrates how the adopted transportation plan can be implemented.(i) For purposes of transportation system operations and maintenance, the financial plan shall

contain system-level estimates of costs and revenue sources that are reasonably expected to be available to adequately operate and maintain Federal-aid highways (as defined by 23 U.S.C. 101(a)(5)) and public transportation (as defined by title 49 U.S.C. Chapter 53).

(ii) For the purpose of developing the metropolitan transportation plan, the MPO, public transportation operator(s), and State shall cooperatively develop estimates of funds that will be available to support metropolitan transportation plan implementation, as required under § 450.314(a). All necessary financial resources from public and private sources that are reasonably expected to be made available to carry out the transporta-tion plan shall be identified.

(iii) The financial plan shall include recommendations on any additional financing strategies to fund projects and programs included in the metropolitan transportation plan. In the case of new funding sources, strategies for ensuring their availability shall be identified.

(iv) In developing the financial plan, the MPO shall take into account all projects and strate-gies proposed for funding under title 23 U.S.C., title 49 U.S.C. Chapter 53 or with other Federal funds; State assistance; local sources; and private participation. Starting Decem-ber 11, 2007, revenue and cost estimates that support the metropolitan transportation plan must use an inflation rate(s) to reflect ‘‘year of expenditure dollars,’’ based on reasonable financial principles and information, developed cooperatively by the MPO, State(s), and public transportation operator(s).

(v) For the outer years of the metropolitan transportation plan (i.e., beyond the first 10 years), the financial plan may reflect aggregate cost ranges/cost bands, as long as the future funding source(s) is reasonably expected to be available to support the projected cost ranges/cost bands.

(vi) For non-attainment and maintenance areas, the financial plan shall address the specific financial strategies required to ensure the implementation of TCMs in the applicable SIP.

(vii) For illustrative purposes, the financial plan may (but is not required to) include additional projects that would be included in the adopted transportation plan if additional resourc-es beyond those identified in the financial plan were to become available.

(viii) In cases that the FHWA and the FTA find a metropolitan transportation plan to be fiscal-ly-constrained and a revenue source is subsequently removed or substantially reduced (i.e., by legislative or administrative actions), the FHWA and the FTA will not withdraw the original determination of fiscal constraint; however, in such cases, the FHWA and the FTA will not act on an updated or amended metropolitan transportation plan that does not reflect the changed revenue situation.

DRAFT


Figure 7-3. FHWA Eligible Roadways


Figure 7-4 illustrates how revenues have flattened while costs, expressed both as the Colorado Construction Cost Index and price of gasoline, have risen. This has led to a corresponding reduction in purchasing power from the revenues generated. This level of funding is now 70 percent of the level of funding from when the tax increases was initially approved. Figure 7-5 depicts what the tax rate would be if lawmakers had taken inflation of construction costs or the price of gasoline into account when adopting the increase in tax rate. Absent new state or federal legislation, it is expected that this trend will continue, widening the gap between revenues and costs.

The forecast cost of meeting the goals for the Pikes Peak regional transporta-tion system through 2040, as determined during planning process, is approx-imately $12 billion in 2040 dollar value. This is approximately four times (400 percent) the forecasted revenue expected to be available for the Pikes Peak region’s transportation system during this timeframe.

the existing system have remained flat. Demands on the system have increased from a growing population and aging infrastructure that is approaching the end of its life cycle. The average age of roads and bridges means that there is an upcoming wave of replacement and rehabilitation that must be funded.

Federal- and state-generated fuel taxes are the primary revenue sources for roadway maintenance, construction and operations. The federal gas tax has been 18.4 cents per gallon since 1993. Colorado’s state fuel tax has remained at 22 cents per gallon since 1991. A typical motorist in Colorado pays approx-imately $266.90 per year in combined state and federal fuel taxes: approxi-mately $102.90 annually in federal taxes and $123 annually in state taxes, and $41 in vehicle registration fees.

Approximately 15 percent of the funds generated by federal and state fuel taxes are applied to other federal transportation efforts, like public transporta-tion. Fuel taxes are not indexed to inflation and have not been increased since they were implemented, in 1992. Furthermore, due to the steady increase in fuel-efficiency standards, drivers pay less in gas taxes per vehicle mile traveled than they did 10 or 20 years ago. With the increasing popularity of electric vehicles, additional revenue will be lost.

• An inflation rate of 5 percent per year, which is the average over both the past 10 years and the past 25 years, was used to estimate future project cost inflation. This was based on historic increases in construction cost as reported by the Colorado Construction Index.

• The first 10 years of the plan, short-term implementation, are comprised of two Transportation Improvement Program periods, 2016–2019 and 2020–2025. Inflated project costs and revenues were compared for those years.

• The 15 outer years of the plan are grouped into one time period: 2026–2040. The middle of each time period revenue estimate was used for inflating project costs.

The approach used to determine the adequacy of the financial resources for maintaining, operating, and expanding the regional transportation system involved three primary steps, as follows: 1. Costs of adding new capacity were calculated by inflating project costs

from PPACG’s 2035 Moving Forward Update plan (2012), including signif-icant construction-cost increases experienced from 2010 through 2014. The 2014 base level was then extended into the future by adding a 5 percent annual inflation rate.

2. Cost estimates for routine maintenance and life-cycle replacement were developed using USDOT’s Highway Economic Resource System for States. This methodology developed per-mile costs for routine maintenance and life-cycle replacement per functional lane mile classification (principal arterial, minor arterial, collector, and local streets.). Routine maintenance includes patching, joint and crack filling, slope repair, drainage structure clearing, cutting and clearing vegetation, sweeping and clearing debris, striping, and pavement repairs. Life-cycle treatments include periodic application of bituminous overlays, seal treatments, milling, crack routing and filling, and base repair.

3. Revenue estimates were adjusted to a year-of-expenditure level. CDOT’s Office of Financial Management and Budget provided the Pikes Peak MPO a year-by-year forecast of revenues’ adjusted for inflation. The policies and as-sumptions used to determine the growth rates for anticipated revenues are listed in the Colorado Department of Transportation 2040 Revenue Forecast and Resource Allocation dated March 2014. This is attached as Appendix B.

Projected Funding Gap

The costs of maintaining, operating, and expanding the transportation system have risen dramatically, while the revenues created to maintain and operate

Figure 7-5. Gas Tax Scenarios

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Figure 7-4. Comparison of Indexed Values

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cle license fees, sales taxes, and transit fare box revenues. Although dedicated to use within the Pikes Peak region, state and federal funding for all but the STP Metro, Transportation Alternatives, Congestion Mitigation/Air Quality and Transit funding categories is programmed by CDOT.

Federal Sources of Funding

Federal funding is derived primarily from the federal gas tax, which is currently 18.4¢ per gallon for gas and 24.4¢ for diesel. Federal Highway Administra-tion funds may be used to reimburse project costs for general transportation planning, preliminary engineering, right-of-way acquisition, construction, and audit. Federal Highway Administration funds may only be spent after authori-zation by CDOT through Federal Highway Administration.

Federal Highway Administration Funding Programs – FHWA reimburse eligible transportation projects. The following are funding categories:

• National Highway Performance Program • Surface Transportation Program• Congestion Mitigation and Air Quality• Highway Safety Improvement Program• Railway Highway Crossing• Transportation Alternatives Program• Ferry Boat Program• Emergency Relief Program

National Highway Performance Program

The National Highway Performance Program was created by the Moving Ahead for Progress in the 21st Century Act (MAP-21) of 2012. The program funds construction and preservation projects located on the newly-expanded National Highway System, which includes the entire Interstate system and all other highways and roadways classified as principal arterials. See Chapter 6, Figure 6-3.

Eligible projects/activities include: • Construction, reconstruction, resurfacing, restoration, rehabilitation, and

preservation of highways and bridges• Bridge and tunnel inspection and evaluation• Training bridge and tunnel inspectors• Transit capital

• The region’s backlog, which includes repairs to local streets, exceeds $1.35 billion.

• Needed routine maintenance costs for the region are estimated to be $300 million/year.

• In addition to routine maintenance, the costs for 24 years of periodic reconstruction and resurfacing on the regional roadways are estimated to be $1.85 billion.

These estimates were prepared using HERS-ST software using current pave-ment conditions. It is assumed that the road segments will be resurfaced every 10 years. These costs will consume a larger proportion of transportation funding as the transportation system ages and grows.

System Management and Operations

Operational and management activities enable more efficient travel and im-prove the reliability of the transportation system. They are intended to make the best use of the existing transportation facilities by managing and operating systems and improving traffic operations and safety.

Examples of operational strategies include: • Intersection improvements• Signal timing• ITS deployment• Ramp metering• Incident management• Access management

Transit operating costs are expected to exceed available transit operating rev-enues between 2020 and 2025. Approximately one-quarter to one-third of the current system may need to be eliminated by year 2040 without additional sources of operating revenue.

System Expansion

In a rapidly-growing region such as Pikes Peak, there is large demand for system expansion. Necessary regional transportation system expansion costs have been estimated at $7.5 billion over the 24-year planning period.

REVENUE SOURCES

Transportation has traditionally been funded by user fees. Today, the major tax sources to fund transportation are state and federal fuel excise taxes, vehi-

SYSTEM COST PROJECTIONS

This plan considers the cost to expand, maintain, and operate the transpor-tation system envisioned by the Pikes Peak region, as required by law . Public comments received during the development of this plan indicated a pref-erence for maintaining existing infrastructure and improving operations of existing infrastructure.

System Maintenance and Preservation

Preservation of our existing investments is vital to infrastructure integrity and important in promoting highway safety.

Maintenance protects existing infrastructure from deterioration through:• Resurfacing• Reconstruction• Roadway patching and sealing• Blading unpaved surfaces, shoulders, and ditches • Cleaning drainage structures• Repairing slopes due to washout or erosion• Maintaining stream beds• Sweeping• Picking up litter and trash• Controlling vegetation• Maintaining Intelligent Transportation Services devices, roadway signs,

and lighting • Guardrail repair• Bridge repair• Painting bridges• Tunnel maintenance• Rest-area maintenance• Snowplowing and ice control

Estimated costs to maintain the region’s existing lanes in good condition from 2015 through year 2040 exceed the available revenues by approximately $4 billion:

• The current backlog of needed roadway maintenance for collector roads and above exceeds $600 million for this planning period.

• The backlog of bridge and major sign structure maintenance is at $300 million.


ects (road widening) unless it is part of the Congestion Management Process. MPOs and DOTs must consider the relative importance of the route, roadway condition, and traffic impact on National Highway System routes as they pre-pare the investment program. Some portions of these funds are sub-allocated on an annual basis to PPACG. This is the funding program known as “Metro.”

The following outlines the Surface Transportation Program components that PPACG programs:

STP-Urban (Metro)

The STP-Urban program is a formula allocation to the PPACG Transportation Management Area based on the population of the Colorado Springs Urban Area. Eligible projects include:

• Planning studies• Enhancement activities• Road projects on a route functionally classified as an urban collector,

rural arterial, or higher• Transit projects, other than operations. • Bicycle transportation and pedestrian walkways.

Projects in this subcategory of funding are selected by the PPACG Board of Directors.

Highway Safety Improvement Program

The purpose of the program is to achieve a significant reduction in traffic fatalities and serious injuries on public roads, including non-state-owned and roads on tribal lands. The program requires a performance-focused, data-driv-en, strategic approach to improving highway safety. Each state is required to develop and implement a strategic highway safety plan that is approved by the governor.

The Colorado DOT plan is called “Moving Colorado Toward Zero Deaths” and was completed in summer 2014. It identifies safety issues and various strat-egies to improve them. As part of the plan, CDOT is required to develop an evaluation process to assess results of safety improvements and to use the information in the assessment and implementation of future improvements. This program provides federal funds (90 percent federal, 10 percent state/local) for projects that improve the safety of high-accident locations. PPACG based its safety analysis on the 2014 plan. See Chapter 10 for more informa-tion.

• Environmental restoration and mitigation• Safety• Construction, rehabilitation, or replacement of ferry boats and facilities• Intelligent Transportation Systems• Bicycle and pedestrian infrastructure

MAP-21 eliminated dedicated funding for bridge repair. Therefore, a share of the National Highway Performance Program for local entities is dedicated to fund a portion of a competitive bridge program.

The National Highway System program funds improvements to rural and ur-ban roads that are part of the National Highway System, including the Inter-state System and designated connections to major intermodal terminals.

The 1991 ISTEA established the National Highway System, and MAP-21 has refined the National Highway System to consist of major roads in the U.S., including:

• The federal interstate system; • Routes identified for their strategic defense characteristics• Routes that provide access to major ports, airports, public transporta-

tion, and intermodal transportation facilities• Principal arterials that provide regional service

Funding in this category may be used for a wide variety of projects. In addition to roadway construction and operational and maintenance improvements, other eligible projects include:

• Start-up for traffic management and control• Infrastructure-based intelligent transportation system capital improve-

ments• Fringe and corridor parking• Carpool and vanpool projects• Bicycle and pedestrian projects• Wetlands and natural habitat mitigation

In certain circumstances, transit projects in the corridor are also allowed if they benefit the National Highway System. Publicly-owned intracity and inter-city bus terminals are also eligible. State DOTs also have the option to shift 50 percent of the money to the Surface Transportation Program category, which provides greater project flexibility.

Surface Transportation Program

The Surface Transportation Program provides flexible funding that may be used by CDOT and local agencies for projects to preserve and improve condi-tions and performance on any federal-aid highway.

Projects eligible for Surface Transportation Program funding include:• Construction, reconstruction, rehabilitation, resurfacing, restoration,

preservation, or operational improvements for highways.• Replacement, rehabilitation, preservation, protection, and anti-icing/de-

icing for bridges and tunnels on any public road, including construction or reconstruction necessary to accommodate other modes.

• Construction of new bridges and tunnels on a Federal-aid highway.• Inspection and evaluation of bridges, tunnels and other highway assets

as well as training for bridge and tunnel inspectors.• Capital costs for transit projects.• Carpool projects, fringe and corridor parking facilities and programs,

including electric and natural gas vehicle charging infrastructure, bicycle transportation and pedestrian walkways, and Americans With Disabilities Act sidewalk modification.

• Highway and transit safety infrastructure improvements.• Capital and operating costs for traffic monitoring, management and con-

trol facilities and programs, including advanced truck-stop electrification.• Surface transportation planning.• Transportation alternatives (including bicycle, pedestrian and transit

projects).• Development and establishment of management systems.• Environmental mitigation efforts (as under the National Highway Perfor-

mance Program).• Infrastructure-based Intelligent Transportation Systems capital improve-

ments.• Environmental restoration and pollution abatement.• Control of noxious weeds and establishment of native species.• Recreational trails projects.• Workforce development, training, and education activities.

Regions designated as Transportation Management Areas are not permitted to use Surface Transportation Program funding for capacity-increasing proj-


lish and implement a schedule of projects for this purpose. At a minimum, this schedule is to provide signs for all railway-highway crossings.

• CDOT may use its railway-highway crossings funds to make an incentive payment to local government for a public at-grade crossing closure, as long as the railroad owning the track also makes an incentive payment.

• CDOT is required to annually update information in the crossing invento-ry database, including information about warning devices and signage, for each public crossing located within its borders.

Emergency Relief Funds

The program funds emergency repairs and permanent repairs on federal-aid highways and roads on federal lands that the secretary finds have suffered serious damage as a result of natural disasters or catastrophic failure from an external cause. This program is funded by a permanent authorization of $100 million per year in contract authority from the Highway Account of the Trans-portation Trust Fund. These funds are available until expended, and exempt from the federal-aid highway obligation limitation.

State of Colorado Sources

Colorado Highway Users Tax Fund

The primary source of revenue in Colorado is the Highway Users Tax Fund: $0.22 per gallon for gasoline and $0.205 per gallon for diesel. This dedicated revenue source is supplemented by car registration fees and other miscella-neous revenue.

Half of the funding is allocated into three areas, based on 2010 census popula-tion, as follows:

• Urbanized areas greater than 200,000• Areas greater than 5,000 but no more than 200,000• Areas with population of 5,000 or less

The remaining 50 percent is available for use in any area of the state and distribution is left to the discretion of CDOT. At this time, a proportion of these funds are dedicated to nonmotorized projects within the engineering regions. The federal share is 82.79 percent.

Federal Lands Highways

The Federal Lands Transportation Program provides funding for projects that improve access to the federal estate, such as national forests, military bases, and national recreation areas. Specifically, this program will provide funding for projects that improve access to the federal estate on infrastructure owned by states and local governments.

Funds are distributed by formula based on recreational visitation, federal land area, federal public road mileage, and the number of federal public bridges. Programming decisions are made at the state level by representatives from Federal Highway Administration, state Department of Transportation, and local government, in consultation with applicable federal land management agencies. A new federal match is required for these funds. Colorado partici-pates in the 80 percent pool of funds divvied up among 12 states with greater than 1.5 percent public lands. In Colorado, 13.97 percent of all land is federal.

Rail Highway Crossing

This program funds safety improvements to reduce the number of fatalities, injuries, and crashes at public grade crossings. Funds are derived from a set-aside of amounts calculated for apportionment to the Highway Safety Im-provement Program. CDOT’s funding level is determined based on the follow-ing factors:

• 50 percent based on the formula factors for the Surface Transportation Program

• 50 percent based on the number of public railway-highway crossings

Other requirements are:• CDOT is required to survey all highways to identify those railroad crossings

that may require separation, relocation, or protective devices, and estab-

States are required to submit annual reports describing at least 5 percent of the state’s most hazardous locations, detailing their progress in implementing safety projects, and measuring effectiveness in reducing fatalities and injuries. Certain safety projects qualify for 100 percent federal funding and are select-ed by CDOT. Only projects of $50,000 or more are funded, as cost-effective-ness diminishes below this amount. Projects can be combined to meet this $50,000 threshold.

Annually, applications for safety projects are requested by CDOT from city and county transportation officials. Projects selected must be included in, or added to, the statewide transportation improvement program, and, if located within an urban area, in the region’s Transportation Improvement Program.

Congestion Mitigation and Air Quality Improvement Program

Projects in this funding category are selected by PPACG’s Board of Directors. CMAQ provides funding for projects and programs that will reduce transpor-tation-related emissions of carbon monoxide. CMAQ provides funding for projects and programs in air-quality nonattainment and maintenance areas for ozone, carbon monoxide, and particulate matter.

The primary intent is for tangible reductions in ozone precursor and CO emis-sions within a timeframe. The Clean Air Act requires highest priority be given to the implementation of the transportation portions of State Implementation Plans and Transportation Control Measures. An evaluation and assessment of CMAQ projects and programs to determine the direct and indirect impact of the projects on air quality and congestion is required. Air-quality benefits must be determined and documented to qualify.

Transportation Alternatives Program

The program funds programs and projects defined as transportation alterna-tives:

• On and off-road trails and paths• Pedestrian and bicycle facilities• Infrastructure projects for improving non-driver access to public trans-

portation and enhanced mobility• Community improvement activities• Environmental mitigation• Recreational trails• Safe Routes to School projects

Entity HUTF Payments CY 2013Colorado Springs $16,948,530Fountain $645,463Green Mountain Falls $27,500Manitou Springs $150,932Monument $197,699Palmer Lake $90,761Woodland Park $283,875Teller County $2,221,792El Paso County $11,538,933Total $32,105,485

Table 7-2. 2013 Yearly Distribution of HUTF to Local Entities


thority. The city has since increased its contribution to transit to $4.3 million in 2015. This plan assumes an annual increase of $220,000 until the city meets its maintenance of effort of $5.7 million in 2022, and grows at 1.5 percent annually beyond 2022.

Federal Transit Revenues

Federal Transit Authority – 5310: Enhanced Mobility of Seniors and Individu-als with Disabilities

The FASTER Bridge Fund is used to repair or replace a specific list of poor-rated bridges on the state highway system. FASTER funds 80 percent of each project, with the local entity supplying the remaining 20 percent. FASTER transit funds are granted to local governments and transit agencies for projects such as new bus stops, maintenance facilities, or multimodal transportation centers. These funds cannot be used for operations.

Local Sources Local revenue comes from a variety of sources such as property and sales taxes for highway and transit projects. Other revenues include money from street-use permits, utility permits, and impact fees. There is also an allocation of state Highway Users Tax Funds directly to each entity, as shown below. In 2004, citizens of El Paso County, Colorado Springs, Manitou Springs, and Green Mountain Falls voted to approve a Rural Transportation Authority sales tax of 1 percent on goods sold within their respective jurisdictions.

In 2012, the capital portion of this tax was renewed for 10 years with 80 percent approval. Residents in the City of Fountain also approved a ¾ cent sales tax for transportation improvements. The PPRTA tax is currently generating more than $80 million per year in revenues. Over half (55 percent) of this tax is for spe-cific capital projects. The remaining 45 percent does not expire and is split 10 percent for transit and 35 percent for roadway maintenance. For purposes of this financial plan, it was assumed that voters will renew the 55 percent capital portion of the PPRTA tax for the period between 2025 and 2040.

Local Transit Funding

Fare and Advertising Revenues

Fare and advertising revenues are important funding sources for transit opera-tions. In 2015, these revenues are projected to provide $3.8 million or ap-proximately 20 percent of Mountain Metro Transit’s operating funds. Fare and advertising revenues are projected to grow at 3 percent per year, generating $143 million over the life of the plan. This revenue growth is based on histori-cal information and with a moderate growth in ridership on the transit system. No fare increase is included in this assumption.

General Fund Revenue

The City of Colorado Springs appropriates its budget on an annual basis and Mountain Metro Transit receives money from the General Fund. The City of Colorado Springs reduced its funding to transit after a recent economic down-turn and fell below the “maintenance of effort” level that was defined in the Intergovernmental Agreement with the Pikes Peak Rural Transportation Au-

There are two levels of funding to the Highway Users Tax Fund: a basic and an additional funding level. All fuel taxes up to 7¢ per gallon are considered basic funding. A portion of the basic funding is allocated off the top to the Depart-ment of Public Safety for the State Patrol and Department of Revenue for the Ports of Entry. The State Treasury distributes the remaining basic funding in the following manner:

• 65 percent to CDOT• 26 percent to Colorado counties• 9 percent to Colorado cities

The amount over 7¢ per gallon is considered additional funding. Additional funding is distributed:

• 60 percent to CDOT• 22 percent to Colorado counties • 18 percent to Colorado cities

The 2013 funds distributed to municipalities and counties in the Pikes Peak region are shown in Table 7-2. Motor fuel tax is the largest revenue source in the Highway Users Tax Fund. Funds can be used for acquisition of right–of–way and the construction, engineering, safety and reconstruction, repair, im-provement, maintenance, and administration of the state highway system and public roads system and transit-related projects, including designated bicycle or pedestrian lanes.

FASTER (Senate Bill 09-108)

In 2009, the enactment of Senate Bill 09-108 created the Funding Advance-ments for Surface Transportation and Economic Recovery program. FASTER provides CDOT and local governments with a new funding source separate from the General Fund that is stable and predictable. The funds derive from modest increases to vehicle registration fees and other funding mechanisms and are dedicated to specific programs. FASTER is projected to generate ap-proximately $252 million annually for transportation improvements.

These funds are split into several categories for distribution: • Statewide Bridge Enterprise • High-Performance Transportation Enterprise to encourage innovative

financing strategies• A safety program• Dedicated funds for transit

TRANSPORTATION FUNDING FORECAST UNCERTAINTY

This financial plan or any financing forecast that is predicated on achieving results in the future contains a number of risks. Risk considerations fre-quently have both positive and negative elements. The major risk elements that have an influence on this financial plan are described below. • Gasoline tax, fuel tax, and registration fee revenues are related to

employment, population, and income growth. Historical data indicate that the Pikes Peak region has performed above the national average across these demographic/economic measures. The future direction of measures will largely determine whether there are in increases or decreases in revenues.

• Federal funding was assumed to reset to TEA-21 levels during years 2010 through 2015, it was then assumed to return to rates found in SAFETEA-LU. At the current level of revenue growth and expenditure, this will be difficult to achieve. Conversely, the federal government may choose to add tax capacity to the transportation program or cre-ate demonstration programs using non-transportation-related funds that are not accounted for in this forecast.

• Traditionally, SUVs and light-duty trucks have been the fastest growing segment of the vehicle fleet. These vehicle types have below-average fuel economy, thus increasing gasoline tax revenues. Currently, hybrid vehicles are attaining a market presence, and automobile manufac-turers are developing models across categories (including SUVs) that will lead to fuel displacement and long-term decreases in gasoline tax revenues that are not included in these forecasts.

• Inflation forecasting has inherent risk. The costs of the needs identi-fied in the plan are assumed to increase at an annual inflation rate of 4% annually until 2035. Should inflation vary from this rate, there will be corresponding changes to funding needs.


STRATEGIES TO INCREASE FUNDING

The Pikes Peak region participated in the governor’s efforts to identify long-term sustainable programs and funding sources for transportation in Colora-do. In 2007, then-Governor Ritter established the Transportation Finance and Implementation Panel. This panel recommended an investment focus and funding thresholds with potential revenue sources. The preferred funding threshold was $2.5 billion in annual transportation funding for the Colorado Department of Transportation. This represents an increase of $1.5 billion per year over current funding. Table 7-3 is a summary of the Panel’s Funding Sources Recommendation.

By changing the current structure of taxes and fees, policy makers are not restricted to just one source. In other words, the entire increase needed to generate sufficient revenue to close funding gaps does not have to be loaded onto a single source, as doing so could lead to an onerous increase. Rather, policy makers may find it more equitable and politically palatable to distribute tax or fee increases across several sources. Moreover, the increase need not be uniform across sources; a 4¢ gas tax increase can be combined with a 2¢ sales tax increase, for example. Additionally, taxes and fees can be increased in any increment preferred by policy makers. There should be a logical connec-tion between the source and the use of the funding.

Excerpts from the 2007 report are provided in Tables 7-4 through 7-6 below indicating a 1¢ fuel tax increase, indexing fuel taxes to inflation, and increasing motor vehicle registration fees by $1.00. This reflects changes to state reve-nues only.

Governor Hickenlooper named the City of Colorado Springs the designated recipient for Federal Transit Authority 5310 funds apportioned to the Colorado Springs Urbanized Area, and PPACG as the planning agency for these funds. 5310 funds are statutorily required to have a completed, coordinated public transit-human services transportation plan before they can be programmed. This program is intended to enhance mobility for seniors and persons with disabilities by providing funds to serve the special needs of transit-dependent populations, beyond traditional public transportation and Americans with Disabilities Act paratransit.

Federal Transit Authority – 5307: Urbanized Area Formula Program

Funds can be used for public-transportation-related capital and planning, spe-cialized commute projects, as well as certain operating expenses. These funds constitute a core investment in the enhancement and revitalization of public transportation systems in the nation’s urbanized areas, which depend on pub-lic transportation to improve mobility and reduce congestion. Section 5307 may be used for federal capital, operating, and planning assistance in Urban-ized Areas, although operating assistance is not an eligible expense for urban areas with populations of 200,000 or more. The City of Colorado Springs is the designated recipient of funds apportioned to the Colorado Springs Urban Area. The funds are apportioned based on legislative formulas, with different formulas applying to Transportation Management Area Metropolitan Planning Organizations versus non-Transportation Management Area Metropolitan Planning Organizations. One percent of funds appropriated nationally for Sec-tion 5307 are set aside for Small Transit Intensive Cities.

Federal Transit Authority – 5309: Capital Investment Program

This program provides grants for new and expanded rail, bus rapid transit,

Revenue Source Incremental Fee or Tax

Revenue Generated (millions)

Increased Vehicle Registration

$100 Average $500

Increased Motor Fuel Tax $0.13/gallon $361 New Daily Visitor Fee $6 daily fee $240 Increased Sales and Use Tax .35% increase $312 Increased Severance Tax 1.7% effective

increase$96

Table 7-3. Funding Sources Recommendation

and ferry systems that reflect local priorities to improve transportation options in key corridors. This program defines a new category of eligible projects, known as core capacity projects, which expand capacity by at least 10 percent in existing fixed-guideway transit corridors that are already at or above capacity today, or are expected to be at or above capacity within five years.

Federal Transit Authority – 5339: Capital Investment Program

This program provides capital funding to replace, rehabilitate and purchase buses and related equipment and to construct bus facilities.

Federal Transit Authority– 5314: Capital Investment Program

This program provides capital funding to replace, rehabilitate and purchase buses and related equipment and to construct bus facilities.

REVENUE PROJECTIONS

PPACG, Mountain Metro Transit, and CDOT prepared a joint estimation of the anticipated revenues that can reasonably be expected to be available from all sources for transportation projects in this plan.

Changes since 2035 Moving Forward Update

Several significant changes have occurred since adoption of the 2035 Moving Forward Update Regional Transportation Plan.

MAP-21 was enacted in 2012, replacing SAFETEA-LU. The enactment of MAP-21 introduced a change to regional planning with a move to perfor-mance-based planning.

At the state level, transportation revenues associated with gaming were eliminated. Senate Bill 1 funds, originally the primary revenue source for the voter-approved Strategic Corridors projects, including both I-25 and Powers Boulevard (SH-21) in the Pikes Peak region, was also repealed, and alternative funding was put in place with two state legislative changes: Senate Bill 09-228 and Senate Bill 09-108. The first replaces SB 97-01 and HB 02-1310 with a low-er, but more predictable, funding mechanism supported by modest increases in vehicles registration and use taxes.

At the local level, the renewal of the PPRTA was approved with 80 percent approval. This extended the capital portion of the tax through 2024.

Table 7-7 illustrates the complete estimate of the revenue anticipated to be available through 2040 to implement the fiscally-constrained portion of the plan.


PeriodBaseline Scenario Minimum Growth Scenario Maximum Growth Scenario

Revenues During Period

Cumulative Revenues


Cumulative Revenues


Cumulative Revenues

FY 2010–11 to 2014–15 $148 $190 $147 $189 $152 $194FY 2015–16 to 2019–20 $163 $353 $159 $348 $179 $373FY 2020–21 to 2024–25 $178 $531 $172 $520 $213 $586FY 2025–26 to 2029–30 $193 $724 $185 $705 $254 $840FY 2030–31 to 2034–35 $209 $933 $199 $903 $305 $1,145FY 2035–36 to 2039–40 $224 $1,103 $211 $1,069 $335 $1,338

Table 7-4. Estimated Revenue from an Increase of One Cent in Fuel Tax Rates (in Millions)

Table 7-5. Estimated Revenue from Indexing the Fuel Tax to Inflation (in Millions)



Cumulative Revenues


Cumulative Revenues


Cumulative Revenues

FY 2010–11 to 2014–15 $497 $523 $466 $492 $546 $574FY 2015–16 to 2019–20 $1,188 $1,711 $1,059 $1,551 $1,433 $2,007FY 2020–21 to 2024–25 $2,117 $3,829 $1,797 $3,347 $2,839 $4,846FY 2025–26 to 2029–30 $3,293 $7,121 $2,681 $6,029 $4,979 $9,825FY 2030–31 to 2034–35 $4,784 $11,905 $3,777 $9,806 $8,299 $18,125FY 2035–36 to 2039–40 $5,580 $13,470 $4,429 $11,177 $9,335 $19,951

Table 7-6. Estimated Revenue from Increasing the Motor Vehicle Registration Fee by $1.00 (2008 Constant Dollars in Millions)



Cumulative Revenues


Cumulative Revenues


Cumulative Revenues

FY 2010–11 to 2014–15 $24 $32 $24 $31 $24 $32FY 2015–16 to 2019–20 $23 $54 $22 $54 $24 $56FY 2020–21 to 2024–25 $22 $76 $21 $75 $24 $80FY 2025–26 to 2029–30 $20 $96 $20 $94 $24 $104FY 2030–31 to 2034–35 $19 $115 $18 $113 $24 $127FY 2035–36 to 2039–40 $18 $137 $17 $135 $24 $151


Funding Category

Directed by FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 FY 2026–2030 FY 2031–2035 FY 2036 – 2040 TOTAL

Infrastructure Maintenance

category subtotal

$90,222,705 $92,635,318 $100,460,846 $101,863,764 $132,004,523 $133,622,583 $135,334,286 $137,088,214 $139,074,388 $141,107,852 $706,618,625 $710,065,799 $711,965,760 $3,332,064,661

State Jurisdic-tion Mainte-nance

TC $14,755,200 $15,197,856 $15,653,792 $16,123,405 $16,607,108 $17,105,321 $17,618,480 $18,147,035 $18,691,446 $19,252,189 $96,260,946 $96,260,946 $96,260,946 $457,934,670

Local NHS Maintenance

TC $17,752,425 $18,284,998 $18,833,548 $19,398,555 $19,980,511 $20,579,926 $102,899,632 $102,899,632 $102,899,632 $423,528,859

State Jurisdic-tion Surface Treatment

TC $11,212,500 $11,692,500 $18,000,000 $18,000,000 $18,000,000 $18,000,000 $18,000,000 $18,000,000 $18,000,000 $18,000,000 $90,000,000 $90,000,000 $85,937,892 $432,842,892

Local NHS Surface Treat-ment

TC $9,720,000 $9,720,000 $9,720,000 $9,720,000 $9,720,000 $9,720,000 $48,600,000 $48,600,000 $46,406,461 $201,926,461

Structures on State Jurisdic-tion

TC $871,299 $1,164,367 $1,236,199 $1,236,199 $1,236,199 $1,236,199 $1,236,199 $1,236,199 $1,236,199 $1,236,199 $5,323,104 $3,984,849 $3,528,794 $24,762,005

Structures on Local NHS

TC $1,236,199 $1,236,199 $1,236,199 $1,236,199 $1,236,199 $1,236,199 $5,323,104 $3,984,849 $3,528,794 $20,253,941

Bridges on Local Jurisdic-tion

CML $871,299 $1,164,367 $1,236,199 $1,236,199 $1,236,199 $1,236,199 $1,236,199 $1,236,199 $1,236,199 $1,236,199 $5,323,104 $3,984,849 $3,528,794 $24,762,005

Local General Funds from HUTF

Local $33,368,019 $33,701,699 $34,038,715 $34,379,103 $34,722,894 $34,707,419 $34,740,735 $34,772,188 $34,983,648 $35,195,777 $169,612,650 $159,076,068 $148,680,048 $821,978,963

PPACG Metro Bridge

PPACG $1,274,826 $1,287,574 $1,300,450 $1,313,455 $1,326,589 $1,325,998 $1,327,271 $1,328,473 $1,336,551 $1,344,656 $6,480,056 $6,077,506 $5,680,326 $31,403,731

PPRTA Main-tenance

PPRTA $27,869,562 $28,426,955 $28,995,491 $29,575,403 $30,166,910 $30,770,250 $31,385,655 $32,013,366 $32,653,635 $33,306,707 $176,796,029 $195,197,100 $215,514,073 $892,671,134

System Operations

category subtotal

$5,028,168 $5,341,367 $5,349,951 $5,358,620 $5,367,377 $5,366,983 $5,367,831 $5,368,632 $5,374,018 $5,379,421 $26,734,959 $26,466,592 $26,201,805 $132,705,724

Rockfall Mitigation

TC $111,111 $188,889 $188,889 $188,889 $188,889 $188,889 $188,889 $188,889 $188,889 $188,889 $944,444 $944,444 $944,444 $4,644,444

Cap. Expen-diture (Road Eq./Prop./Cap. Op. Eq.)

TC $319,205 $499,927 $499,927 $499,927 $499,927 $499,927 $499,927 $499,927 $499,927 $499,927 $2,499,634 $2,499,634 $2,499,634 $12,317,450

TSM&O: ITS Maintenance

TC $1,663,200 $1,709,400 $1,709,400 $1,709,400 $1,709,400 $1,709,400 $1,709,400 $1,709,400 $1,709,400 $1,709,400 $8,547,000 $8,547,000 $8,547,000 $42,688,800

Table 7-7. Revenue Anticipated through 2040


Funding Category


TSM&O: Performance Programs and Services

TC $70,180 $70,180 $70,180 $70,180 $70,180 $70,180 $70,180 $70,180 $70,180 $70,180 $350,900 $350,900 $350,900 $1,754,500

TSM&O: Congestion Relief

TC $462,000 $462,000 $462,000 $462,000 $462,000 $462,000 $462,000 $462,000 $462,000 $462,000 $2,310,000 $2,310,000 $2,310,000 $11,550,000

Hot Spots TC $250,306 $250,306 $250,306 $250,306 $250,306 $250,306 $250,306 $250,306 $250,306 $250,306 $1,251,531 $1,251,531 $1,251,531 $6,257,653

PPACG Metro Funds for Signals

PPACG $849,884 $858,383 $866,967 $875,636 $884,393 $883,999 $884,847 $885,648 $891,034 $896,437 $4,320,038 $4,051,671 $3,786,884 $20,935,821

Traffic Signals TC $147,282 $147,282 $147,282 $147,282 $147,282 $147,282 $147,282 $147,282 $147,282 $147,282 $736,412 $736,412 $736,412 $3,682,056

Capital Ex-penditure (ITS Investments)

TC $1,155,000 $1,155,000 $1,155,000 $1,155,000 $1,155,000 $1,155,000 $1,155,000 $1,155,000 $1,155,000 $1,155,000 $5,775,000 $5,775,000 $5,775,000 $28,875,000

Safety category subtotal

$1,003,766 $1,002,452 $1,000,934 $999,294 $10,928,725 $11,173,568 $11,435,511 $11,700,174 $11,982,468 $12,422,678 $64,637,179 $70,432,881 $76,698,958 $285,418,588

Highway Safe-ty Investment Program v. 2

CDOT $3,133,271 $3,131,875 $3,134,881 $3,137,720 $3,156,801 $3,175,943 $15,305,246 $14,354,463 $13,416,362 $61,946,562

Railway-High-way Crossings Program

CDOT $166,617 $82,006 $76,912 $71,886 $397,421

FASTER: Safe-ty Projects v. 2

TC $6,797,778 $7,045,548 $7,306,107 $7,569,473 $7,834,257 $8,090,271 $44,321,664 $51,101,628 $58,320,701 $198,387,427

Safety Educa-tion

TC $1,003,766 $1,002,452 $1,000,934 $999,294 $997,676 $996,145 $994,523 $992,981 $991,410 $989,847 $4,928,263 $4,899,878 $4,890,009 $24,687,178

Transporta-tion Planning

category subtotal

$1,779,536 $1,791,708 $1,804,002 $1,816,418 $2,069,395 $2,068,830 $2,070,045 $2,071,193 $2,078,906 $2,086,644 $8,998,817 $8,614,470 $15,235,250 $52,485,214

Deliver: Program Delivery/Ad-ministration

Region 2 $- $- $- $- $- $- $- $- $- $- $- $- $- $0

PPACG Metro - Planning

PPACG $240,436 $240,436 $240,436 $240,436 $240,436 $240,436 $1,442,616

CDOT - Plan-ning

Region 2 $7,000,000 $7,000,000

FTA - Planning MMT $668,000 $668,000 $668,000 $668,000 $668,000 $668,000 $668,000 $668,000 $668,000 $668,000 $3,340,000 $3,340,000 $3,340,000 $16,700,000

Metropolitan Planning CPG

PPACG $1,111,536 $1,123,708 $1,136,002 $1,148,418 $1,160,959 $1,160,394 $1,161,609 $1,162,757 $1,170,470 $1,178,208 $5,658,817 $5,274,470 $4,895,250 $27,342,598

Table 7-7. Revenue Anticipated through 2040 (cont.)


Funding Category


Transit category subtotal

$34,148,634 $29,425,233 $30,413,207 $30,409,848 $31,005,274 $29,680,461 $29,593,434 $29,528,823 $30,293,202 $30,549,796 $160,454,129 $175,699,972 $191,831,656 $833,033,669

Farebox, Ad-vertising and Misc.

Local $3,927,452 $4,045,276 $4,166,634 $4,291,633 $4,420,382 $4,552,994 $4,689,584 $4,830,271 $4,975,179 $5,124,435 $28,022,504 $32,485,763 $37,659,903 $143,192,010

Local General Funds

Local $4,545,960 $4,765,960 $4,985,960 $5,205,960 $5,425,960 $5,645,960 $5,717,814 $5,803,581 $5,890,635 $5,978,994 $31,267,456 $33,683,930 $36,287,159 $155,205,330

PPRTA Transit PPRTA $7,962,732 $8,121,987 $8,284,426 $8,450,115 $8,619,117 $8,791,500 $8,967,330 $9,146,676 $9,329,610 $9,516,202 $50,513,151 $55,770,600 $61,575,450 $255,048,896

PRRTA Transit Carryover/Capital Proj-ects

PPRTA $6,693,000 $1,120,000 $1,747,000 $1,120,000 $1,120,000 $1,120,000 $560,000 $- $- $- $13,480,000

5307 MMT $7,222,425 $7,294,649 $7,367,596 $7,441,272 $7,515,685 $7,590,841 $7,666,750 $7,743,417 $7,820,852 $7,899,060 $40,293,145 $42,771,985 $44,953,786 $203,581,463

5310 MMT $420,084 $424,285 $428,528 $432,813 $437,141 $441,513 $445,928 $450,387 $454,891 $459,440 $2,367,042 $2,487,785 $2,614,687 $11,864,524

5339 MMT $796,998 $804,968 $813,018 $821,148 $829,359 $837,653 $846,029 $854,490 $863,035 $871,665 $4,490,831 $4,719,909 $4,960,671 $22,509,774

FASTER State Pool

MMT $245,000 $259,000 $280,000 $280,000 $1,064,000

FASTER: Local Distribution

MMT $700,000 $700,000 $700,000 $700,000 $700,000 $700,000 $700,000 $700,000 $700,000 $700,000 $3,500,000 $3,500,000 $3,500,000 $17,500,000

Strategic Proj-ects: Transit

TC $1,879,983 $1,903,108 $1,920,045 $1,946,907 $1,937,630 $- $- $- $- $- $- $- $- $9,587,673

Other category subtotal

$57,346,431 $58,013,895 $61,824,909 $73,261,846 $64,062,261 $64,478,702 $65,565,795 $66,743,316 $67,361,935 $67,950,887 $405,561,251 $419,708,334 $463,903,053 $1,935,782,613

Regional Pri-ority Program

Region 2 $4,016,233 $4,016,233 $4,016,233 $4,016,233 $4,016,233 $4,016,233 $4,016,233 $4,016,233 $4,016,233 $4,016,233 $20,081,165 $20,081,165 $20,081,165 $100,405,825

PPRTA Capital Projects*

PPRTA $43,302,026 $43,550,929 $43,817,343 $45,355,633 $46,285,144 $47,233,250 $48,760,315 $50,306,718 $51,312,855 $52,339,111 $277,822,331 $306,738,300 $338,664,972 $1,395,488,925

Contingency TC $1,947,316 $2,252,100 $5,081,349 $4,890,547 $4,671,107 $4,143,507 $3,694,781 $3,317,634 $2,874,548 $2,381,498 $11,260,501 $11,260,501 $11,260,501 $69,035,890

Strategic Projects

TC $- $- $- $- $- $- $- $- $- $- $40,000,000 $40,000,000 $40,000,000 $120,000,000

Transporta-tion Alterna-tives

PPACG $755,554 $763,331 $771,185 $779,119 $787,131 $786,771 $787,547 $788,279 $793,207 $798,152 $3,842,385 $3,596,816 $3,354,521 $18,603,998

Transporta-tion Alterna-tives

Region 2 $- $- $447,716 $452,321 $456,973 $456,764 $457,214 $457,640 $460,501 $463,371 $2,230,717 $2,088,151 $1,947,485 $9,918,853

STP-Metro Projects

PPACG $6,374,131 $6,437,872 $6,502,251 $6,567,273 $6,632,946 $6,629,990 $6,636,354 $6,642,363 $6,682,757 $6,723,279 $32,400,282 $30,387,530 $28,401,629 $157,018,657



Funding Category


Congestion Mitigation/Air Quality

PPACG $951,171 $993,430 $1,188,832 $1,200,720 $1,212,727 $1,212,187 $1,213,351 $1,214,449 $1,221,834 $1,229,243 $5,923,870 $5,555,871 $5,192,780 $28,310,465

Defense Ac-cess Roadway

Dept of Defense

$- $- $- $10,000,000 $- $- $- $- $- $- $12,000,000 $- $15,000,000 $37,000,000

Total $189,529,240 $188,209,972 $200,853,849 $213,709,789 $245,437,554 $246,391,127 $249,366,902 $252,500,352 $256,164,917 $259,497,278 $1,373,004,959 $1,410,988,048 $1,485,836,482 $6,571,490,470


Documents

FINANCIAL PLAN - Pikes Peak Area Council of Governments · State Tax State Buying Power Federal Tax Federal Buying Power The current buying power of the combined $0.40 per gallon