The Regional Financial Picture

1
The Regional Financial Picture

• Closing the Gap Financing the
• Regions Transportation Needs
• June 4, 2008

2
What is the aim of this presentation?

• Provide a regional context for todays conference
• Aggregate needs and resources from a number of
  agencies
• Offer a regional bottom line to illustrate the
  real financing issues that agencies are facing
  right now

3
We are awash in numbers . . .

• Federal Agencies and Commissions
• New York State Capital and Operating Budgets
• Regional Authorities Capital and Operating
  Budgets
• Local Agencies' Capital and Operating Budgets

4
How can we bring these numbers together?

• Aggregate them regionally
• Forecast needs regionally
• Forecast resources regionally
• Use metropolitan planning area boundaries

5
What are the larger contexts?

• NYMTCs metropolitan planning area is a key part
  of the larger NY-NJ-CT-PA region and the
  northeast megaregion
• Investments in NYMTCs metropolitan planning area
  will likely impact and benefit these larger areas
• NYMTC is one of thirteen metropolitan planning
  organizations in New York State

6
What can we do with this financial picture?

• The upcoming Federal reauthorization is a huge
  opportunity
• NYMTC members can speak with one regional voice
  in the formulation of New York States
  coordinated approach to the Federal
  reauthorization
• NYMTC members will also be participating with
  national organizations

7
Regional Expenditures -- what do we need to do
between now and 2030?

• Achieve and maintain a "state-of-good repair" for
  our transportation system to ensure the system's
  continued ability to move people and goods
• Purchasing rail cars and buses
• Rehabilitating track for passengers and freight
• Repaving and rehabilitating roads and bridges

8
State-of-Good-Repair Cost(all figures in
year-of-expenditure dollars)

• 226.7 billion for the following
• More than 15,000 buses and 11,000 rail cars
  replaced
• Over 300 miles of track refurbished
• Transit stations, line equipment and structures,
  signals and communications, shops and yards,
  power and miscellaneous facilities refurbished
• Nearly 12,000 lane miles of pavement resurfaced
• Nearly 70 million square feet of bridge surface
  refurbished

9
Expenditure Scorecard

• State-of-good-repair 226.7 B

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What else do we need to do?

• Operate, maintain and improve services
• Commuter rail and subway
• Buses and shuttle vans
• Vanpools and shared-ride arrangements
• Demand management and information services
• Maximize use of technology in the operation of
  services

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Operations and Maintenance Costs(all figures in
year-of-expenditure dollars)

• 322.5 billion to operate and maintain the
  following
• State roadway system
• Local roadway system
• Demand management and Intelligent Transportation
  Systems
• MTA transit services (subway, bus and commuter
  rail)
• Independent transit services (Westchester,
  Rockland, Putnam and Suffolk counties New York
  State DOT New York City ferries local
  municipalities)

12
Expenditure Scorecard

• State-of-good-repair 226.7 B
• Operations and maintenance 322.5 B

13
What else?

• Complete four large foundation improvements
• Second Avenue Subway
• LIRR East Side Access
• 7 Subway extension
• Access to the Region's Core rail tunnel

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Foundation Project Costs(all figures in
year-of-expenditure dollars)

• 33.9 billion to complete the foundation projects
• Second Avenue Subway (phases 1 through 4) 16.8
  billion
• LIRR access to Grand Central Terminal 7.4
  billion
• 7 subway extension to Far West Side 2.2
  billion
• Access to the Regions Core rail tunnel from New
  Jersey to midtown 7.6 billion

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Expenditure Scorecard

• State-of-good-repair 226.7 B
• Operations and maintenance 322.5 B
• Foundation Projects 33.9 B

16
What else?

• Complete numerous smaller mobility and safety
  improvements
• In current, fiscally-constrained Regional
  Transportation Plan and Transportation
  Improvement Program

17
Mobility and Safety Project Costs(all figures in
year-of-expenditure dollars)

• 2.3 billion in the fiscally-constrained planning
  process as follows
• Nearly 1 billion for various projects in the
  2008-2012 Transportation Improvement Program
• Roughly 1.3 billion for various projects in the
  2005-2030 Regional Transportation Plan

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Expenditure Scorecard

• State-of-Good-Repair 226.7 B
• Operations and Maintenance 322.5 B
• Foundation Projects 33.9 B
• Safety and Mobility 2.3 B
• TOTAL 585.4 B

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What else? Meeting the challenges of growth

• Select and complete a number of additional
  strategic transportation investments
• Forecasted growth in population and employment
• Existing and forecasted congestion
• Ten desired growth areas

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(No Transcript)
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Additional Investments?

• There are over 60 billion in other large,
  strategic transportation investments
• . . .under consideration or
• active study

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What resources can we expect between now and 2030?
All figures in year-of-expenditures
dollars Escalations are assumed for each future
Federal authorizing bill based on historical
trends

• 590.2 billion total, comprised of --
• Federal (including New Starts and State of New
  Jersey match)
• New York State
• MTA
• Local municipalities (including New York City and
  suburban counties)

23
Expenditure Scorecard

• State-of-Good-Repair 226.7 B
• Operations and Maintenance 322.5 B
• Foundation Projects 33.9 B
• Safety and Mobility 2.3 B
• TOTAL 585.4 B

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The Financial Picture -- what resources will be
left over?
Approximately 4.8 billion
. . . for additional strategic transportation
investments
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What will this buy us?
Less than 10 of the likely cost of additional
investments under consideration or active study .
.
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A Caveat NYMTCs needs are great, BUT . . . .
They must be considered in the context of larger
national and statewide needs and shortfalls
. . . what can we reasonably expect to receive
from Federal and State sources?
. . . what local actions might we take?
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Our Essential Dilemma
Working individually and jointly as NYMTC . . .
How do the NYMTC member agencies pay for their
next round of strategic investments?