NOTE: As provided in LFC policy, this report is intended for use by the standing finance committees of the legislature.  The Legislative Finance Committee does not assume responsibility for the accuracy of the information in this report when used in any other situation.

Only the most recent FIR version, excluding attachments, is available on the Intranet. Previously issued FIRs and attachments may be obtained from the LFC office in Suite 101 of the State Capitol Building North.

*There is no fiscal impact at this time until the project is programmed in the Statewide Transportation Improvement Program of the State Highway and Transportation Department.

Relates to HB 430

SOURCES OF INFORMATION

State Highway and Transportation Department

SUMMARY

Synopsis of Bill

This memorial urges the State Highway and Transportation Department (SHTD) to include the Richards Avenue/Interstate 25 Interchange project in the State Transportation Improvement Plan. Further, it directs SHTD to take all actions necessary to move this project toward design, construction and completion.

Significant Issues

State Highway Commission Policy 65 governs the addition or modification of interstate access. The policy requires that a local government agency requiring new interstate access certify that funds are available for the federally required feasibility study. Additionally the local government agency must execute a memorandum of understanding with the department detailing program, construction and maintenance funding responsibilities.

A feasibility study is estimated to cost approximately $250.0. A cost estimate for the construction project would be developed during the feasibility study. Preliminary engineering and environmental work previously performed for the proposed interchange would also require an update.

Department staff reviews interstate access requests, including certification and memorandum of understanding and presents the request to the State Highway Commission with an analysis and recommendation. Requests approved by the commission are submitted to the Federal Highway Administration for approval and subsequent inclusion in the Statewide Transportation Improvement Program (STIP).

FISCAL IMPLICATIONS

The preliminary SHTD cost estimate for design and construction of the I-25/Richards Avenue Interchange is $9.6 million. This does not include right-of-way acquisition or widening of Richards Avenue.

The earliest this project could be funded is FY 2004. The I-25/Richards Avenue Interchange project cannot be added to an earlier year in the STIP because all available funding has been programmed for other projects. No uncommitted funding is presently available for additional projects.

Available funds cover 38% of the estimated cost for needed preservation and improvement projects on the State Highway System and the Major Investment Program (projects funded through bonds). Priorities for construction throughout the state have been determined through the STIP and Metropolitan Planning Organization TIP development process. If this project was advanced, projects of equal estimated cost would have to be delayed.

CONFLICT/DUPLICATION/COMPANIONSHIP/RELATIONSHIP

HB 430 proposes raising the gasoline and special fuel taxes and also the Petroleum Products Loading Fee and using the revenues generated to support additional bonding authority for highway projects. One of the projects proposed for funding through this bill is the Richards Avenue/I-25 Interchange.

MFV/gm