TRAFFIC ESTIMATES FOR EXPRESSWAYS AND OTHER PUBLIC TOLL REVENUE PROJECTS

The article discusses ways of estimating traffic on expressways and other highway facilities operated by a public body and financed by the issue of bonds secured solely by tolls paid by users. In estimating the volume of traffic that would use a toll facility, conservatism dictates that the volume is not overestimated, but underestimating can have the effect of discouraging investment in the construction project. The article discusses several factors to be considered when conducting a study for a project to be supported solely by tolls. These include consideration of existing traffic, estimation of toll rates, traffic growth, induced traffic, and projected traffic.