Cost Estimate and Financing Options
The goal of this task is to determine alternative financing schemes to use these alternatives to assist in the determination of the road character. The final goal of this task is to develop preliminary financing schemes for the preferred roadway alternative.
- Examine privatization and public-private partnership opportunities.
- Identify sources and uses of funds including state/federal/private funding, loan sources.
- Explore and address the variety of ownership and delivery vehicles include public, private and public-private partnerships.
Status of this Study Product per the Technical Task Force:
- 12/13/07
CMAP has completed the existing model and two of the four projected models and estimates completion of the final two projected models by mid January.
TranSystems is creating sub-regional traffic models based on CMAP regional traffic models calibrated to provided traffic data and counts by mid February based on revised CMAP schedule.
Character of Road studies to move forward after further traffic, land use, and financing studies.
Placement of Road studies to move forward after further character of road and environmental studies.
Completing need assessment along existing IL 120
- Analyzing system linkage and continuity
- Analyzed existing pedestrian, bicycle, and transit needs within corridor
- Reviewing safety problems
- Identifying geometric deficiencies
- Identifying drainage problems
- Received no-build traffic from CMAP and will analyze traffic operation needs
- Task Force meeting scheduled for January 29, 2008 for concurrence on presentation to Governance Board at meeting on February 13, 2008
- 11/8/07
Received traffic data from IDOT.
Traffic counts for the western portion of the corridor completed after the completion of the Fairfield / Gilmer interchange.
TranSystems made financial presentation on 3P Financing on October 16, 2007.
- 10/16/07
Task Force meeting held on July 3, 2007.
Received traffic data from County.
Traffic counts for the eastern portion of the corridor completed prior to IL 120 at I-94 construction began.
Met with CMAP regarding CMAP preparing regional traffic models for various scenarios:
- Existing
- 2030 projected with LCTIP IL 53 expressway option and with IL 120 Bypass
- 2030 projected with LCTIP IL 53 arterial option and with IL 120 Bypass
- 2030 projected without IL 53 and with IL 120 Bypass
- 2030 projected without IL 53 and without IL 120 Bypass
- CMAP has completed the existing model and one of the four projected models and estimates completion of the final three projected models by end of November
- TranSystems has begun creating sub-regional traffic models based on CMAP regional traffic models calibrated to provided traffic data and counts
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