The Funding and Financing of Managed Lanes Projects
Author(s):
T.S. Collier, V.D. Goodin
Publication Date:
September 2002
Abstract:
The managed lane concept is currently being considered on major freeway projects in Texas cities. While the high-occupancy vehicle (HOV) concept is familiar in most urban areas, motorists are less familiar with managed lanes. The term "managed lanes" encompasses a variety of facility types, including HOV lanes, high-occupancy toll (HOT) lanes, single-occupancy vehicle (SOV) express lanes, special use lanes, and
truck lanes. The premise of the managed lanes concept is to increase freeway efficiency and provide freeflow operations for certain freeway users by packaging various operational and design strategies. The
strategies deployed offer the flexibility to be adjusted to match changing corridor and regional goals.
This report documents research on the funding and financing of managed lanes projects. This report highlights the financial aspects of operating managed lanes projects. Additionally, it discusses innovative
financing techniques and their applicability to various types of projects. The report describes various financing and funding strategies for given managed lane project scenarios. Successful implementation of a managed lanes project will require careful planning and a willing community. Managed lanes projects can be successfully implemented when the project is designed around the goals of the community or region. These goals will affect project financing too. It is important to
match the financing with the goals of the project.
Report Number:
0-4160-9
Electronic Link(s):
Document/Product
http://tti.tamu.edu/documents/4160-9.pdf
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