Executive Director's Report

EXECUTIVE DIRECTOR STEVE HEMINGER’S REPORT TO THE
COMMISSION MEETING OF SEPTEMBER 26, 2012

SUMMARY OF EVENTS:

BSA Audit Released
Sacramento, August 28

The Bureau of State Audits (BSA) released its audit findings and recommendations regarding our purchase of 390 Main Street in San Francisco for a new regional agency headquarters.

Dumbarton Bridge Re-opens Early
September 3

Following a weekend closure to perform ongoing seismic retrofit work, Caltrans re-opened the Dumbarton Bridge to traffic early on Labor Day evening, about 10 hours prior to the planned re-opening for the Tuesday morning commute. Congratulations to the construction crews involved for a job well done. [More info]

AMPO Annual Meeting
Saratoga Springs, September 10-14

I attended the annual meeting of the Association of Metropolitan Planning Organizations (AMPO) in Saratoga Springs, New York. As AMPO’s president this year, I chaired a session of the Board of Directors as well as presided over the annual membership meeting.

GARVEE Bonds Downgraded
New York, September 13

In a significant action reflecting diminishing confidence in the financial stability of the federal Highway Trust Fund, Fitch Ratings has downgraded 11 grant anticipation revenue (GARVEE) bond issues earlier this month. These GARVEE bonds have been issued by state and local transportation entities, and are backed by the gas tax receipts deposited in the federal trust fund. As you will recall, Congress recently reauthorized the federal surface transportation program for two years at current funding levels, but only by infusing the trust fund with yet another sizeable transfer from the general fund.

BATA Bond Sale
New York, September 19

Brian Mayhew and our finance team hit pay-dirt on Wall Street last week selling $900 million in fixed-rate bonds at an all-in rate of 3.06% to refund debt originally sold in 2006 and 2007. The earlier debt was priced around 4.50%, so this refunding will allow us to realize significant savings in our debt service costs. Brian and the team will next turn their attention to a similar refunding strategy for our 2008 fixed-rate debt, which was originally priced at 5.30%.

EPA Clean Air Award
Washington DC, September 20

I am pleased to announce that MTC was honored by the U.S. Environmental Protection Agency with a Clean Air Excellence Award for the Climate Initiatives Program we developed in partnership with the Bay Area Air Quality Management District. We were one of only 11 awards given nationwide. Tom Bulger was on hand in Washington to pick up the hardware. [More info]

ABAG Executive Board
Oakland, September 20

At the request of ABAG Executive Director Ezra Rapport, I attended the most recent ABAG Executive Board meeting last Thursday night where they discussed whether to relocate to the new regional agency headquarters at 390 Main Street in San Francisco. At the end of lengthy public and closed sessions, the ABAG Board approved moving forward on negotiations with the Bay Area Headquarters Authority to acquire a condominium interest in the new facility. The vote was 16-8.

JPC Meeting
Oakland, September 21

The Joint Policy Committee (JPC) meeting this month featured two major items: (1) a discussion with Senator Mark DeSaulnier about working cooperatively on legislative support for a regional economic development strategy, and (2) approval of a work plan to develop a regional adaptation strategy in response to sea level rise. The strategy is expected to take several years to develop and may cost $15-20 million due to the need for both extensive technical analysis and broad stakeholder outreach.

COMTO Discussion Panel
Oakland, September 25

I moderated a discussion panel on the prospects for public transit at a meeting of the northern California chapter of the Conference of Minority Transportation Officials (COMTO).

Upcoming MTC Awards Ceremony

For the past 35 years, MTC’s Excellence in Motion Awards have recognized the people, organizations, and programs that have made extraordinary contributions to the way we get around the Bay Area every day. This year, the biennial awards ceremony will take place on October 24, 2012 at Nile Hall in Preservation Park in downtown Oakland. A reception will begin at 8:30 a.m. with presentation of awards commencing at 9:00 a.m. At the conclusion of the awards ceremony, the BATA and Commission meetings will take place in their usual location at the MetroCenter. Staff will contact all of you shortly with additional details.

Map of the Month

This map shows the distribution of Fastrak toll crossings generated by each county in the Bay Area. As expected, the distribution generally shows that counties closest to a bridge account for a greater share of Fastrak usage. However, some toll crossings – such as the Golden Gate and Bay Bridges – draw a significant share of users from distant counties. For instance, 32% of Fastrak customers from San Mateo County use the Bay Bridge, while 11% of both San Mateo and Santa Clara County customers use the Golden Gate Bridge.

• Share of FasTrak Transactions in 2011 by County and Bridge (PDF)
  
  

MTC Operational Statistics

The monthly report on the performance of MTC’s operating programs:

• MTC Operational Statistics (PDF)

Upcoming Events

October 14-17 — RailVolution, Los Angeles
October 22-26 — ITS World Congress, Vienna