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Project Profile: I-10 Corridor Express Lanes (Contract 1)

I-10 Corridor Express Lanes (Contract 1) - San Bernardino County, California

photo credit: Lane-Security Paving Joint Venture

Location

San Bernardino County, California

Project Sponsor / Borrower

San Bernardino County Transportation Authority

Program Area

Alternative Project DeliveryProject FinanceTolling and PricingValue CaptureTIFIA

Value Capture Techniques

Sales Tax District

Mode

Highway / Express Lanes

Description

The San Bernardino County Transportation Authority (SBCTA) plans to implement 33 miles of express lanes along the I-10 corridor from the Los Angeles County line west to Ford Street in Redlands. The corridor achieved environmental clearance in July 2017, and with initial funding secured, SBCTA has entered into a design-build contract to deliver the first 10 miles (Contract 1) between Los Angeles County and I-15, through the Cities of Montclair and Ontario.

The project will add two tolled express lanes in each direction. It will construct one new express lane and convert the existing HOV lane to express lane operation along approximately eight miles from the Los Angeles County line to Haven Avenue. The express lanes will remain available to HOV motorists toll-free, but the occupancy requirement for free travel will increase from HOV2+ to HOV3+. East of Haven Avenue, the project will add two new express lanes in each direction. The project also includes the reconstruction and/or modification of existing ramps at 10 interchanges, 26 structures including box culverts, new or reconstructed retaining and sound walls, and improvements to eight arterial streets. Pavements in the corridor will be rehabilitated through a cooperative agreement with Caltrans.

Project funding includes a TIFIA loan from the USDOT Build America Bureau that leverages future toll revenues from the express lanes and a significant local contribution from San Bernardino County's Measure I local option sales tax.

Cost

$928.975 million - Total cost including program management, environmental review, project and construction management, right-of-way, design-build contract, plant establishment, financing, and reserves

Funding Sources

Federal funding - $261.0 million

TIFIA loan - $225.0 million

State funding - $286.5 million

Measure I local option sales tax revenue - $134.7 million

Other local funding - $21.8 million

Project Delivery / Contract Method

Design-build

Private Partner

Lane-Security Paving Joint Venture - Design-builder

  • Lane Construction Company
  • Security Paving Company, Inc.

TransCore - Toll Services Provider (design-build)

Project Advisors / Consultants

HNTB - Project and Construction Management

To SBCTA

  • Ernst & Young - Financial Advisor
  • Montague DeRose and Associates, LLC - Financial Advisor
  • Orrick, Herrington & Sutcliffe, LLP - Legal Advisor
  • CDM Smith - Traffic and Revenue Advisor

To USDOT Build America Bureau

  • Skadden, Arps, Slate, Meagher & Flom - TIFIA Legal Advisor
  • IMG Rebel - TIFIA Financial Advisor
  • Louis Berger - TIFIA Traffic and Revenue Advisor
Lenders

USDOT Build America Bureau (TIFIA)

TIFIA Credit Assistance

Direct Loan - Up to $225 million

The TIFIA loan will be a Second Lien Obligation under SBCTA's Master Trust Indenture and will be secured by toll revenues from the project. The loan will be junior to Senior Lien Obligations. There are no outstanding or proposed Senior Lien Obligations currently.

The TIFIA loan will be also be supported by Measure I Sales Tax funds which will be contributed either as a Cash Supplement (i.e. fixed amount contributed each month) or as a backstop whenever there is a shortfall.

Duration / Status

Design-build contract awarded August 2018.

Pre-construction activities began spring 2019.

Major construction to begin spring 2020.

Anticipated construction completion in spring 2023.

Financial Status / Financial Performance

TIFIA credit agreement was executed on May 3, 2019.

Innovations
  • The SBCTA Board approved the use of Measure I investment funds for debt service and operations through 2040 or the TIFIA repayment period, whichever is sooner, allowing SBCTA to maximize the TIFIA loan amount. Any use of these investment funds will be repaid with interest from toll revenue.
Related Links / Articles

SBCTA Project Website

Design-build Team Project Website

SBCTA Measure I 10-year Delivery Plan

Contacts

Chad Costello
SBCTA Project Manager
Tel: (909) 884-8276
ccostello@gosbcta.com

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