Title
I-77 South Express Lanes Project
Action
Action:
Direct the vote of Charlotte's representative of the Charlotte Regional Transportation Planning Organization Board to support the North Carolina Department of Transportation's plan for a public-private partnership service delivery model for managed lanes along Interstate-77 South.
Body
Committee Chair:
Ed Driggs, Transportation, Planning, and Development
Staff Resource(s):
Liz Babson, City Manager's Office
Debbie Smith, Transportation
Explanation
* The I-77 South Managed Lanes project is designed to improve an important corridor that brings business to the Charlotte region and supports the city's mobility vision of making jobs more accessible.
* The project was initially identified in 2007 and adopted as a project for state funding by the Charlotte Regional Transportation Planning Organization (CRTPO) in 2014 as part of the region's plan for transportation investment to manage congestion, increase safety, and support continued economic growth.
* The North Carolina Department of Transportation (NCDOT) is seeking direction from the CRTPO Board as to whether the state should move forward with a procurement process for a public-private partnership (P3) delivery option for the managed lanes along I-77, south of uptown Charlotte.
* NCDOT has completed a comparative analysis study between Traditional Toll Delivery and P3 Toll Delivery options and determined that a P3 Toll Delivery option is financially feasible with the existing committed public funding, while a Traditional Toll Delivery option is not financially feasible given current funding constraints.
* The P3 delivery model is a long-term partnership in which NCDOT would select a private developer to design, build, finance, operate, and maintain a project under a Design, Build, Finance, Operate, and Maintain agreement.
* If a P3 option is selected, project development could continue as the comparative analysis indicates that the $600 million in State T...
Click here for full text