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Page 4 <br />• January 22, 1996 <br />Mounds Vtew City Counctl <br />Mr. Zauner explained that the state is experiencing a transportation funding gap -the number of automobiles is <br />up, the fuel consumption is down and the average life of the vehicle is increasing thus funding for <br />transportation costs is declining. <br />Mr. Zauner noted that their proposal would include a second river crossing at the Mississippi River. The <br />original proposal for the 610 connection did not include the second bridge or improvements to the East of the <br />bridge. He provided a layout of the project, noting that they intend to the complete the entire project to the full <br />design and long-terns goals that have been established and to deliver the completion of the project within four <br />years. <br />Mr. Zauner explained how the proposed toll road would function. He noted that a transponder would be <br />installed to the dashboard of a vehicle and as the vehicle passes under, the vehicles use of the road would be <br />recorded and the driver would be charged for the use of the road that they used. Those vehicles from outside <br />the area that did not have the transponder device would be recorded via video imaging and those people would <br />be billed accordingly and charged a premium for the extra postage involved in that process. <br />He explained that their proposal would be privately financed and would not include tax exempt fmancing of any <br />kind. There would be no taxpayer risks. Furtherniore the project would be completed much sooner that it <br />would ever be completed under traditional methods. He noted they did not include the state resources that are <br />presently committed to the project and it is their vision that the state revenues would be part of a negotiation <br />with the Department of Transportation and the execution of the proposed agreement and that the money would <br />be made available to the communities in this area to fiuther provide additional infrastructure that otherwise <br />would not be committed to the area. He also presented a video which provided information in regard to how <br />the proposed toll road would function. <br />Mayor Linke stated he understands that their commitment would be similar to a franchise with the State <br />Department of Transportation. As he was told by them, after a period of time (after the contractor has <br />recouped his costs), that franchise would go away. <br />Mr. Zauner stated this is correct. From the beginning of the design process to the conclusion of the agreement <br />period, the State would retain the ownership of it. After the project is constructed, the contractor would <br />receive a franchise to operate it for the period of time necessary to retire the debt. The State and legislation <br />require that the project would never be used for anything other than what the purpose for which it was <br />intended. <br />Ms. Hankner asked what would happen after the debt on the project has been paid in full. <br />Mr. Zauner stated it would then become the property of the State for the state to do as it pleases. A special <br />fund would be set up for long term maintenance. <br />Ms. Hankner asked what the cost would be to complete the 610 project. <br />Mr. Zauner stated at this point they were looking at approximately $200,000,000 to complete the entire project <br />between 35W and 94. <br />• Ms. Hankner asked what is in it for their company. <br />