1. SR 417 Extension Sketch-Level Traffic & Revenue Evaluation
Florida Department of
TRANSPORTATION
SR 417 Extension Sketch-Level Traffic & Revenue Evaluation
August 26, 2015

2. Sketch-Level T&R Evaluation
Update to 2003 Study
Higher-Level, Conceptual Effort Using Existing Data and Inputs
Evaluate Key Inputs
What Has Changed Over Past 12 Years?
Impact on Traffic?
Impact on Revenue?
Identify New Alternatives for Consideration
Update Project Costs
Reassess Revenue/Cost Differential
Florida Department of Transportation

3. Project Overview
Extension of SR 417 in Seminole County to I-95 in Southeast Volusia County
New, Four-Lane, Limited-Access Toll Facility
Approximately 30 Miles Long
Alternative for Trips from Volusia to Orlando
Includes New St. Johns River Crossing
Crosses Environmentally Sensitive Areas
Florida Department of Transportation

4. Study Area
Florida Department of Transportation

5. Corridor Alternative 1
Florida Department of Transportation

6. Corridor Alternative 2
Florida Department of Transportation

7. Corridor Alternative 3
Florida Department of Transportation

8. 2003 T&R Study Results
Florida Department of Transportation

9. 2003 T&R Study Results
2003 T&R Study Conclusion: Project shortfall of $620 to $780 million
Florida Department of Transportation

10. Sketch-Level T&R Update
Population Data
Network
Access Locations
Developments within Study Area
New Opening Year (2025)
Updated Project Costs
Florida Department of Transportation

11. Population Data - Comparison
County
2003 BEBR Medium Population Estimate
2015 BEBR (PS 171) Medium Population Estimate
% Change in Population Estimate
2010
2030
2010*
Volusia
515,100
645,200
494,593
563,900
-4.0%
-12.6%
Brevard
551,300
685,800
543,376
631,100
-1.4%
-8.0%
Seminole
450,300
598,700
422,718
522,300
-6.1%
-12.8%
Total
1,518,710
1,931,730
1,462,697
1,719,330
-3.7%
-11.0%
*2010 Census Population
Florida Department of Transportation

12. Network SR 415 SR 44 I - 4 I – 95 Lake Mary Blvd
2-Lanes
4-Lanes
Florida Department of Transportation

13. Network - SR 415 Historical Traffic
Florida Department of Transportation

14. Access Locations 2003 Study Access Additional Access I-95 I-95
Maytown Rd
Maytown Rd
SR 46
SR 46
Lake Mary Blvd / International Airport
Lake Mary Blvd / International Airport
SR 417
SR 417
New Access
Florida Department of Transportation

15. Developments within the Study Area
Restoration DRI
8,500 Residential Units
3,825 SF Units
4,675 MF Units
3,300,000 Non-Residential Square footage
1,904,442 sq ft. Office
1,395,557 sq ft. Retail
74% of total land area (3,872 ac.) planned for conservation
Farmton MDRI
23,100 Residential Units
: 4,692 Units
: 18,408 Units
4,700,000 Non-Residential Square footage
: ,217 sq. ft.
: 4,700,000 sq. ft.
RESTORATION
FARMTON
Access Locations
Florida Department of Transportation

16. Net Present Value (NPV) in $Millions
Base Case
Same Toll Rate
Same Access Points
Updated Land Use and Model Network
2025 Opening vs Opening Year
Indexed Toll Rates vs. Toll Increases Every 10 Years
Alternatives
Net Present Value (NPV) in $Millions
2003 T&R Study
$196 M
2015 Sketch-Level T&R Evaluation
$260 M
Change From 2003 Study
+$64 M (+32%)
Florida Department of Transportation

17. Net Present Value (NPV) in $Millions
2015 Study Build Alternatives
Alternatives
(Higher Toll Rate)
Net Present Value (NPV) in $Millions
Change from 2003 NPV
$196 M
Same Access Locations as 2003 Study
$364 M
+ 85%
Additional Access Locations At SR 46 and Lake Mary Blvd
$402 M
+ 105 %
Higher Land Use Related to Restoration and Farmton
$497 M
+ 153 %
Florida Department of Transportation

18. Updated Project Costs Corridor 1 $887 M $1.5 B + 69% Corridor 2 $851 M
Change in Cost
Corridor 1
$887 M
$1.5 B
+ 69%
Corridor 2
$851 M
$1.4 B
+ 65%
Corridor 3
$824 M
$1.3 B
+ 58%
*Project unit costs were updated, however, ROW and mitigation costs were not updated in this effort. Additional costs related with the addition of new access points was not included in the cost estimates.
Florida Department of Transportation

19. Revenue/Cost Differential
Alternatives
NPV
Cost*
Difference
in Millions
Base Case
$260
$1,300
-$1,040
Higher Toll Rate Access
$364
-$936
Higher Toll Rate - Additional Access
$402
-$898
Higher Toll Rate - Higher Land Use
$497
-$803
*Costs shown for Corridor #3 and do not include updates to ROW and Mitigation, or the cost for the additional access points.
Florida Department of Transportation

20. Conclusion Project Assumptions Evaluated and Updated
Additional Alternatives with a Higher Toll Rate
Additional Access
Higher Land Use from Developments
Updated Project Costs
R/W and Mitigation Costs Still Need to be Updated
Project Still Has Significant Shortfall ($803 M to $936 M)
Florida Department of Transportation

21. Conclusion
QUESTIONS?
Florida Department of Transportation