popular annual financial report (pafr)expressway authority (mdx) pafr provides information from the...

POPULAR ANNUAL FINANCIAL REPORT (PAFR)

Fiscal Year Ended June 30, 2012

2012

Our Vision: “The Miami-Dade Expressway Authority (MDX)

transportation system will provide safe, affordable choices for

the movement of people and goods in Miami-Dade County. The

system will support and sustain economic opportunities in the

South Florida region. It will be equitably tolled, well maintained,

reliable, multimodal and aesthetically pleasing while also being

environmentally sensitive. This system will be planned, delivered

and operated in cooperation with MDX’s partners in the public

and private sectors.”

54

Our Mission “Serve as an innovative transportation agency dedicated to the enhancement of mobility in Miami-Dade County committed to bringing more efficient, market driven, user friendly management to its expressways”.

What is a PAFR? A Popular Annual Financial Report (PAFR) is an unaudited summary of an organization’s financial activities. The Miami-Dade Expressway Authority (MDX) PAFR provides information from the MDX 2012 Comprehensive Annual Financial Report (CAFR) in a non-technical format for easier reading. It contains an overview of MDX’s financial position including sources of revenues, expenditures and economic information about the community intended to provide citizens a clear understanding of MDX’s business.

Who is MDX? MDX is an agency of the state enabled by the Florida Legislature and created by Ordinance of the Miami-Dade County Commission in December 1994. The objective behind the formation of MDX was to have an independent agency with an additional funding source to address transportation needs in Miami-Dade County quickly and efficiently.

MDX is governed by a thirteen-member volunteer Board consisting of business and civic leaders. Florida’s Governor appoints five members of the Board, while the County Commission appoints seven. The thirteenth member, the Florida Department of Transportation District Six Secretary, serves as an ex-officio member. Board members serve four-year terms without compensation. The Board provides overall policy direction for MDX activities.

MDX receives no sales tax, gas tax, property tax or half-penny sales tax. MDX projects are funded primarily with tolls collected on the MDX System.

6 MDX Popular Annual Financial Report (PAFR) 7MDX Popular Annual Financial Report (PAFR)

Table of Contents

What is a PAFR? . . . . . . . . . . . . . . . . . . . . .2

Who is MDX? . . . . . . . . . . . . . . . . . . . . . . .3

The MDX System . . . . . . . . . . . . . . . . . . . .7

Our Board of Directors . . . . . . . . . . . . . . . . .8

Our Staff . . . . . . . . . . . . . . . . . . . . . . . . 10

The Cost of Congestion . . . . . . . . . . . . . . . 11

Why does MDX matter? . . . . . . . . . . . . . . . 11

Financial Highlights . . . . . . . . . . . . . . . . . . 12

Where the money comes from . . . . . . . . . . . . 12

Where the money goes . . . . . . . . . . . . . . . . 12

How projects are financed . . . . . . . . . . . . . . . 12

Comprehensive Annual Financial Report . . . . . . . . 13

FY 2012 and 2011 . . . . . . . . . . . . . . . . . . . 13

Debt Service Coverage . . . . . . . . . . . . . . . . 15

Bond Ratings . . . . . . . . . . . . . . . . . . . . . . 15

MDX Work Program . . . . . . . . . . . . . . . . . 16

Completed and ongoing projects . . . . . . . . . . . 17

Future projects. . . . . . . . . . . . . . . . . . . . . 20

Our partners. . . . . . . . . . . . . . . . . . . . . . 22

Open Road Tolling . . . . . . . . . . . . . . . . . . . 23

What is ORT? . . . . . . . . . . . . . . . . . . . . . 23

MDX for Business . . . . . . . . . . . . . . . . . . . 26

MDX for Community . . . . . . . . . . . . . . . . . 27

From the Executive Director

On behalf of the Miami-Dade Expressway Authority (MDX), I am pleased to present this Popular Annual Financial Report (PAFR) to all citizens wanting to know more about our business and why it matters to the economic vitality of Miami-Dade County. MDX was created to make certain that revenues collected from local tolls would remain in Miami-Dade County, and be controlled locally. These funds finance projects designed to reduce congestion and foster user-sensitive changes in transportation. To date, MDX has invested over $1.2 billion in safety, system preservation and mobility improvement projects; which has resulted in the creation or retention of an estimated 12,600 job years. MDX’s success can be attributable to our ability to continually identify and respond to the changing demands for transportation options in Miami-Dade County.

This report provides a snapshot of MDX’s financial health and overall standing for fiscal year 2012. It also offers a glimpse of the magnitude of activities under the jurisdiction of this agency and the complexities inherent in operating, maintaining and improving five of the most heavily traveled highways in Miami-Dade County. We are proud of our accomplishments, but fully acknowledge there is much left to be done.

MDX receives no tax revenues and relies primarily on tolls to fund all of its activities. For this reason, our Board implements and follows policies to ensure that all customers using the MDX roadways pay their fair share. We have strict operating procedures to ensure that every dollar collected is properly allocated. The agency is likewise committed to invest its revenues equitably in our community by fostering increased participation by small and local businesses in our procurement process which is aimed to boost the local economy.

The Board and staff of MDX will continue to work hard to relieve congestion on our roadways. In close collaboration with our strategic transportation partners, we will continue to identify and advance projects that will bring about greater overall mobility to our community.

I would like to take this opportunity to thank our Board for their participation and commitment to conduct the work of the agency at the expense of their time away from their businesses, professions and families. I would also like to thank the MDX staff for their continued support, perseverance, integrity and diligence which made possible the many achievements accomplished during the past year.

I look forward with confidence to MDX’s growing contribution to Miami-Dade County’s economic vitality and sustainability.

Javier Rodriguez, P.E.MDX Executive Director

9MDX Popular Annual Financial Report (PAFR)8

The MDX System MDX currently operates, maintains and improves five (5) of the busiest State Roads (SR) in Miami-Dade County which are:

• Dolphin Expressway (SR 836)

• Airport Expressway (SR 112)

• Don Shula Expressway (SR 874)

• Gratigny Parkway (SR 924)

• Snapper Creek Expressway (SR 878)

Economic ImpactThe MDX roadways link the western part of the county to some of the major job and tourist centers in Miami such as:

Employment Center Jobs Generated

Miami International Airport 282,043

Port Miami 176,000

Miami Beach 49,268

Downtown Miami 114,417

* Agency CAFR and other sources

Over 1 million people travel the MDX System daily.

11MDX Popular Annual Financial Report (PAFR)10 MDX Popular Annual Financial Report (PAFR)

Our Board of Directors

“Funding transportation infrastructure that meets the demands of future generations is not an easy task, but someone has to make the tough decisions now.”

– Maurice A. Ferre’, MDX Chair, Board of County Commissioners Appointee

Shelly Smith Fano MDX Vice Chair Governor of Florida’s Appointee

Gonzalo Sanabria MDX Treasurer Governor of Florida’s Appointee

Gus Pego, P.E. District Six Secretary, Florida Department of Transportation

Carlos R. Fernandez-Guzman Governor of Florida’s Appointee

Maritza Gutiérrez Board of County Commissioners Appointee

Jose M. Hevia Governor of Florida’s Appointee

Robert W. Holland, Esq. Board of County Commissioners Appointee

Felix Lasarte, Esq. Board of County Commissioners Appointee

Al Maloof, Ph.D. Board of County Commissioners Appointee

Louis V. Martinez, Esq. Board of County Commissioners Appointee

Yvonne Soler McKinley Board of County Commissioners Appointee

Norman Wartman Governor of Florida’s Appointee


The Cost of Congestion Congestion is measured in terms of delay per traveler (or auto commuter) and is calculated as the time difference between the average speed and the free-flow speed on a roadway segment for vehicle occupants. According to the Texas Transportation Institute’s (TTI) 2011 Urban Mobility Report, the congestion cost in 2010 was about $5.6 billion for the seven selected urban areas in Florida. This equates to approximately 269 hours in travel delay and 116 million excess gallons of fuel consumed per auto commuter. Miami, specifically, had 38 hours of annual delay per auto commuter in 2010, the highest in Florida. As population and economic growth increase so will the traffic delays. It is imperative that mobility is improved to meet the future demands. Doing nothing is just NOT AN OPTION!

Why does MDX matter? Very simply put…MDX keeps your toll dollars in Miami-Dade County. Economic vitality depends on an efficient transportation system and MDX makes sure that the toll money collected locally is used to improve mobility in Miami-Dade County.

Industries need access to a reliable transportation system to deliver goods and services. Residential areas must have access to job centers throughout the region. Commercial areas require good accessibility in order to keep up with the demand and make their business flourish. Visitors need to reach tourist destinations, airports and ports. We all depend on an efficient transportation system. Improving the County’s transportation network will make further economic development possible.

Historically, the Interstate Highway System has been funded through the State Highway Trust Fund which is funded primarily by fuel tax (currently 18.4 cents per gallon) collected by the federal, state, and local governments. At the same time Miami-Dade County has expanded, the cost of maintaining the existing roadway infrastructure has grown, leaving little for funding of new highway construction. With infrastructure funding down, there has been a need to turn to user fees (tolls) to fund transportation projects. MDX funds all improvements to its five (5) expressways roads with tolls collected locally.

Our Staff

MDX operates in Miami-Dade County with a staff of approximately 46 professionals who have roots in the community and are committed to making your commute safer and more efficient. Our management philosophy is one of personal accountability, integrity, transparency and dedication.

The organizational structure is based on a lean in-house core staff and outsourced consultant services including General Engineering Consultants, Traffic Consultants, Financial Advisors, and Roadway Maintenance Contractors.

Javier Rodriguez, P.E. has served as Executive Director of MDX since March 2007. The Executive Director reports to

the Board on expressway planning, engineering, construction, financing and operating activities. The Board provides overall policy direction to the Executive Director for implementation of MDX activities. The Executive Director in turn, provides guidance and direction to MDX directors and managers.

The entire organization works together to establish sound policies, enforce good management practices, institute conservative financial planning and retain the public’s trust which results in revenue assurance for investment in improved mobility in Miami-Dade County.

We drive to work, we drive to the store, we drive to visit with friends and family. No matter our destination, the focus is getting to where we need to go - safely and without delay. MDX wants to save our customers valuable time on the road. We keep over 1 million cars moving as safely and efficiently as possible each day. MDX Website

12,600 JOBS CREATEDSince 1994, MDX has invested more than $1.2 billion in roadway improvements. That investment has generated over 12,600 jobs in our community.

Board of Directors

Executive DirectorBoard Executive Secretary

Deputy Executive Director/Director of Toll Operations

Information Technology/ ITS Manager

Human Resources Manager Communications ManagerManager of Procurement & Contracts Administration

Deputy Executive Director/Director of Engineering

Deputy Executive Director/Director of Finance/CFO

In-House General Counsel

Public Trust

Financial Planning

Good Management

Practices

Sound Policies

Revenue Assurance

• Funds projects from tolls• Reinvests 100% of net tolls collected locally

into local projects• Distributes approximately $0.30 of every $1 of

contracts awarded to Small & Local Businesses• Creates jobs in the community• Serves over 1 million people daily• Provides safe and reliable roads

MDX


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Create Jobs

Where the money comes from

Revenues are generated from tolls, fees and other non-operating activities. The major categories are:

• Tolls and fees collected for using the MDX road based upon the classification of the vehicle. The classification is determined by the number of axles on the vehicle. Fees are generated from administrative costs such as late fees, fines or penalties.

• Investment income is interest/dividend income earned from cash on hand.

• Other revenue is generated from grant revenue, property leases, permits and other miscellenous sources.

Expenses are the costs MDX incurs in carrying out our day-to-day activities. The major categories are:

• Operations include cost to collect tolls, SunPass® transponder discount programs, Road Rangers service, traffic management center, and billing processing of toll transactions.

• Maintenance includes the cost to maintain the roadways and facilities in good condition.

• Administration includes employee salaries and benefits, professional consultants, small business outreach, public communications, insurance, and other overhead costs needed to operate the organization.

Project funding is all costs that have long-term benefits and are capitalizable, such as building improvements, expanding the existing roadways, and preserving the system of roadways.

How Projects Are Financed MDX primary source of revenue is the tolls collected on the MDX roadway system. As any other commodity, construction prices have and will continue to rise over time. The cost of construction today is higher than it was 20 years ago, but most likely lower than it will be 20 years from now. MDX issues revenue bonds which allow for the funding of projects over time, yet preserve the cost in today’s dollars. Similar to a mortgage loan where some collateral is offered to the bank to secure the loan until fully paid, the projected revenue from the tolls are pledged as a mean to repay the bond’s principal and interest. The cost of the project is paid over the same timeframe as the benefit is received by the user. The advantage is that the funds are made available so that MDX can make the improvements to the roads now rather than later, and that all tolls collected by MDX in Miami-Dade County are re-invested in Miami-Dade County towards the construction and maintenance of the MDX system.

CAFR The Authority produces a Comprehensive Annual Financial Report (CAFR) for its fiscal year which begins July 1st and ends on June 30th. A CAFR is a set of government financial statements that complies with the accounting requirements established by the Governmental Accounting Standards Board (GASB). GASB provides standards for the content of a CAFR.

A CAFR is compiled by the entity’s staff and “audited” by an external American Institute of Certified Public Accountants (AICPA) certified accounting firm utilizing GASB requirements. It is composed of three sections: Introductory, Financial, and Statistical.

Fiscal Years 2012 and 2011 Assets are resources with economic value that MDX owns or controls such as cash reserves, receivables, roadways, structures, and buildings. Liabilities are legal debts or obligations that arise during the course of business operations such as loans. Net assets refer to the residual value left for MDX after deduction of liabilities from total assets. Over time, increases or decreases in net assets are useful indicators of whether the organization’s financial position is improving or deteriorating.

MDX’s financial health is reflected in its Balance Sheet. As of June 30, 2012, MDX’s total net assets continue a rising trend. In FY 2012 MDX net assets of $443.8 million increased $35.0 million or 8.6% from the previous year.

Total AssetsAs of June 30, 2012 and 2011, total assets were $1.9 billion and $1.8 billion, respectively.

Total Liabilities As of June 30, 2012 and 2011, total liabilities were approximately $1.4 billion for both years. Total Liabilities are comprised of current liabilities and long-term liabilities.

Current Liabilities are considered short-term obligations and debts that will be paid within one (1) year; while long-term liabilities are obligations beyond a one (1) year time frame.

Current Liabilities As of June 30, 2012 and 2011, the Authority’s current liabilities totaled $93.7 million and $69.1 million, respectively. Fiscal year 2012 current liabilities increased $24.6 million or 35.6% from fiscal year 2011, primarily due to accounts payable of $14.8 million, current portion of revenue and refunding bonds payable of $5.7 million and accrued expenses of $4.9 million; partially offset by a decrease in current portion of loans payable to other governments of $750,000.

Long-Term Liabilities MDX financial obligations are primarily from outstanding revenue and refunding bonds. As of June 30, 2012, MDX’s total long-term debt was $1.26 billion. As of June 30, 2012 and 2011, the Authority’s outstanding long-term bonds payable totaled $1.2 billion for both years (net of current portion, bond premium/discount and deferred cost); the current portion of the bonds payable is included in current liabilities and totaled $11.4 million and $5.7 million, respectively.As of June 30, 2012, the long term and current portion of revenue and refunding bonds payable decreased by $4.1 million from June 30, 2011. The decrease is due to the principal payments on the bonds of $5.7 million, partially offset by amortization of $1.6 million.

“Managing public funds responsibly fosters public trust”. – Marie Schafer, MDX Deputy Executive Director/CFO

Financial HighlightsWhere the money goes

24% Operations6% Maintenance5% Administration

65% Project funding3% Investment income & other

97% Tolls and fees

June 30, 2012 June 30, 2011

Bonds Outstanding $1,252,399,997 $1,258,066,664

Net deferred costs (3,850,941) (5,412,792)

Total revenue bonds, net 1,248,549,056 1,252,653,872

Current portion of revenue bonds (11,411,667) (5,666,667)

Total long-term revenue bonds $1,237,137,389 $1,246,987,205

Abbreviated Balance Sheet

Year Total Assets & Deferrals Total Liabilities Total Net Assets

2012 $1,883,745 $1,439,948 $443,797

2011 $1,799,952 $1,391,121 $408,831

2010 $1,444,019 $1,071,343 $372,676

2009 $1,349,251 $1,021,122 $328,129

2008 $1,307,588 $1,027,195 $280,394


Debt Service Coverage This ratio is a measurement that reflects MDX’s ability to pay its annual debt service of both principal and interest. The MDX Trust Indenture requires debt service coverage of 1.2, however through a conservative approach to its finances an internal benchmark of 1.4 has been established by the MDX Board of Directors.

Bond Ratings Upon evaluation of MDX’s financial strength, the private independent rating agencies of Standard & Poor’s, Fitch and Moody’s have assigned a rate of A, A- and A3. This “grade”, AAA being the highest and C the lowest, reflects MDX’s ability to repay its financial obligations in a timely matter.

The MDX Comprehensive Annual Financial Report (CAFR) is available at www.mdxway.com for all those with an interest in its finances. Questions concerning any of the information provided in this report or requests for additional financial information should be addressed to the Chief Financial Officer, Miami-Dade Expressway Authority, 3790 N.W. 21st Street, Miami, FL 33142.

Operating Revenues are the revenues that MDX receives in the course of its normal operations while Non-Operating Revenues are investment income and grants. Primarily all of MDX’s Operating Revenues come from tolls and fees collected on its five (5) expressways.

Operating Revenues were $123.5 million and $122.7 million for fiscal years 2012 and 2011, respectively. Total operating revenues for fiscal year 2012 increased $800,000 or 0.7% over fiscal year 2011, compared to an increase of $10.0 million or 8.9% over fiscal year 2010. For fiscal year 2011, the net toll and fee revenue increase is primarily due to the conversion from conventional tolling to all electronic tolling on SR 924, SR 874, and SR 878, capturing previously un-tolled movements.

Non-Operating Revenue consists of investment income of $3.0 million and $2.4 million for fiscal years 2012 and 2011, respectively. Investment income for fiscal year 2012 increased $550,000 or 22.7% from fiscal year 2011, compared to a decrease of $2.7 million or 52.4% from fiscal year 2010.

The increase for fiscal year 2012 is primarily due to higher reinvestment yields on investments and an increase in fair market value. The decrease for fiscal years 2011 is mainly due to lower reinvestment yields on investments originally invested in securities three to five years.

Operating Expenses were $60.5 million and $54.6 million for fiscal years 2012 and 2011, respectively. Operating expenses increased $5.9 million or 10.8% over fiscal year 2011, compared to an increase of $970,000 or 1.8% over fiscal year 2010. In fiscal year 2012, excluding depreciation

expenses, operating expenses were $35.9 million, an increase of $3.5 million or 10.9% over fiscal year 2011.

Non-Operating Expenses include interest expense incurred to repay bonds and other debt obligations and disposal of assets which have reached their useful life.

Interest expense was $38.1 million and $34.8 million for fiscal years 2012 and 2011, respectively. Disposal of assets were $3.5 million and $6.1 million for fiscal years 2012 and 2011, respectively. In fiscal year 2012, the disposals were primarily due to impairment of projects that were no longer eligible for capitalization. Contribution of capital projects is comprised of grant revenue received from partnership on capital projects.

• Our total assets and deferrals of $1.9 billion increased $83.8 million or 4.7% in fiscal year 2012, compared to an increase of $355.9 million or 24.6% in fiscal year 2011.

• Our total capital assets, net of accumulated depreciation, of $1.3 billion increased $114.9 million or 9.6% in fiscal year 2012, compared to an increase of $121.1 million or 11.2% in fiscal year 2011.

• Our total liabilities of $1.4 billion increased $48.8 million or 3.5% in fiscal year 2012, compared to an increase of $319.8 million or 29.8% in fiscal year 2011.

• Our net assets of $443.8 million increased $35.0 million or 8.6% in fiscal year 2012, compared to an increase of $36.2 million or 9.7% in fiscal year 2011.

• Our toll revenues of $122.5 million increased $647,400 or 0.5% in fiscal year 2012, compared to an increase of $10.1 million or 9.0% in fiscal year 2011.

• Our operating expenses of $60.5 million increased $5.9 million or 10.8% in fiscal year 2012, compared to an increase of $970,000 or 1.8% in fiscal year 2011.

• Our operating income of $63.0 million decreased $5.1 million or 7.5% in fiscal year 2012, compared to an increase of $9.0 million or 15.3% in fiscal year 2011.

Financial Summary

Senior Debt Coverage Ratio2.001.751.501.251.00

2012 2011 2010 2009 2008

Bond RatingsYear Standard & Poor’s Fitch Moody’s

2012 A A- A3

2012 2011 2010 2009 2008

Operating & Non-Operating Revenues

Toll and fee revenues, net $122,510,799 $121,863,351 $111,768,148 $113,075,908 $115,799,343

Other revenues 969,618 818,982 896,894 788,848 983,041

Investment income 2,981,225 2,429,340 5,104,558 13,875,924 20,641,181

Contributions for capital projects 10,573,964 6,546,525 667,880 1,636,576 246,498

Total Revenues 137,035,606 131,658,198 118,437,480 129,377,256 137,670,063

Operating & Non-Operating Expenses

Operating expenses 35,969,151 32,429,759 31,436,276 34,655,726 29,511,886

Depreciation and amortization 24,516,253 22,173,626 22,198,662 20,248,798 20,171,593

Interest expenses 38,063,044 34,789,104 19,794,970 26,603,243 31,321,635

Disposal of assets 3,520,685 6,111,535 460,054 134,264 30,967

Total Expenses 102,069,133 95,504,024 73,889,962 81,642,031 81,036,081

Changes in Net Assets $34,966,473 $36,154,174 $44,547,518 $47,735,225 $56,633,982

Operating Expenses 2012–2008(excluding depreciation)

$40

$30

$20

$10

$02012 2011 2010 2009 2008

Operations Maintenance Administration

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MDX Work Program MDX has a Long-Range Master Transportation Plan (LRMTP) that identifies regionally significant transportation projects that MDX is examining for future implementation. Long range projects are conceptual in nature and require significant planning including engineering, finance, political and public acceptance. The MDX LRMTP is made part of the Miami-Dade County Metropolitan Planning Organization’s (MPO) Long-Range Transportation Plan (LRTP) which guides transportation investments in Miami-Dade County through the next twenty five years with the purpose of achieving the best mobility connections.

A thorough feasibility analysis is performed on projects that are prioritized for implementation including the cost of constructing all phases of the project, the cost of maintaining it, and their projected revenue. Projects that are deemed financially feasible and adopted by the MDX Board are included in the Five-Year Work Program. Other projects may remain in the LRTMP until such time as they are financially feasible.

The MDX Five-Year Work Program identifies those financially feasible projects that MDX will be implementing in a five (5) year period. The MDX Five-Year Work Program is updated on an annual basis as priorities are reevaluated and projects are completed. Work Program priorities include:

• Safety - MDX’s first priority is to provide safe roadways. The Five-Year Work Program includes projects that enhance safety such as installing guardrail to prevent vehicles from going off the road and bridges. During fiscal year 2012, approximately 11,093 linear feet (LF) of guardrail, 2,638 LF of fencing, and 16,221 LF

of striping were installed at various locations along the MDX roadways.

• System Preservation - The second priority is to preserve the roadways and bridges in good condition. For this purpose MDX annually funds a series of renewal and replacement projects that include resurfacing of the roadways and other non-routine repairs.

• Mobility Improvements - Once safety and system preservation projects have been funded, MDX funds mobility improvement projects. These reduce congestion by adding capacity to the roadways by constructing new lanes; or extending any of its five expressways such as the SR 836 Dolphin Expressway Extension to 137th Avenue.

The MDX roadways are an essential part of the county’s transportation system and provide a crucial contribution to the economic development and growth of the area. In order for these benefits to be sustained and to protect the investment made in its Five-Year Work Program, MDX follows a well-planned maintenance program. The goal of maintenance is to preserve all parts of the road such as pavement, shoulders, slopes, drainage and other structures as near to their as-constructed condition as possible. MDX invests approximately 6% of its annual revenue in the regular and periodic maintenance of its roads because postponing maintenance and repairs results in higher costs later on.

The number of projects added into the Work Program is contingent upon MDX’s ability to fund them while maintaining existing programs.

Completed and Ongoing Projects MDX has invested over $1.2 billion on improvements that provide value to commuters EVERY DAY. Some of the most important projects include:

SR 836 Additional Lanes To reduce traffic congestion on the SR 836/Dolphin Expressway, in 2001, extra lanes were added in the west and east direction from 107th Avenue to 87th

Avenue and on the east direction from 72nd Avenue to 57th Avenue. ($4 million).

SR 836 Extension The 3-mile extension of SR 836/Dolphin Expressway to NW 137th Avenue opened to traffic in 2007. It provides expressway access to the growing residential and industrial communities in West Miami-Dade County. Improvements from 107th Avenue to 87th Avenue and new tolling point incorporate high-speed electronic toll collection. The Extension of SR 836 was the first Open Road Tolling segment within the MDX system. It is estimated that it saves commuters about 40% in travel time. ($185 million).

SR 836/HEFT Bridge The construction of a new bridge crossing NW 107th Avenue and connecting to the southbound Homestead Extension of the Florida’s Turnpike in 2006 provided safer access and improved capacity on SR 836/Dolphin Expressway. ($43 million).

SR112/Okeechobee Ramp In 2004, MDX completed the new westbound dedicated ramp connecting SR 112/Airport Expressway to the Okeechobee Road. This eliminated unsafe conditions resulting from cars merging in the vicinity of exits to NW 36th Street and Okeechobee Road. ($15 million).

Over $1.2 billion invested to date.

MDX LRMTP

MDX 5-Year Work Program

Is project financially feasible?

Safety

System Preservation

Mobility Improvements

Yes

No

20 21MDX Popular Annual Financial Report (PAFR) MDX Popular Annual Financial Report (PAFR)

SR 836 New Lanes/Interchange Improvements In 2007, MDX added westbound lanes to the SR 836/Dolphin Expressway from SR 826/Palmetto Expressway to 57th Avenue and improved the SR 836/Dolphin Expressway and 57th Avenue Interchange. ($22 million).

SR 874 Ramp In November 2008, the northbound on-ramp from Kendall Drive and SR 874/Don Shula Expressway was completed which provides a new connection from Kendall Drive to SR 874 northbound. Sound barrier walls were installed to limit noise impacts to adjacent neighborhoods. ($42 million).

Intelligent Transportation Systems (ITS) Between 2007 and 2010, MDX completed the installation of an Intelligent Transportation System (ITS) network on its five expressways that includes fiber optic communication and traffic surveillance equipment. Traffic conditions are monitored from the Traffic Management Center which is shared with the Florida Department of Transportation. Emergency vehicles are dispatched to attend incidents on the road. ($24 million).

SR 836 Eastbound Lane In November 2011, MDX widened the existing bridges and built an additional outside lane along eastbound SR 836/Dolphin Expressway between NW 57th

Avenue and NW 42nd Avenue/LeJeune Road exit ramp which significantly reduced congestion on SR 836. ($23 million).

SR 874/Killian Parkway MDX recently completed improvements to the southern portion of the SR 874/Don Shula Expressway and Killian Parkway interchange including roadway widening and installation of sound barrier walls. ($100 million).

SR 874 Improvements The last phase of the reconstruction of the entire SR 874/Don Shula Expressway is underway and due for completion in 2013. It includes widening from 4 to 6 lanes and resurfacing of the SR 874 roadway from Kendall Drive to SR 826/Palmetto Expressway in anticipation of future traffic increase in the area. ($67 million).

Dynamic Message Signs (DMS) By 2014 MDX will install state-of-the-art dynamic message signs throughout the MDX System to provide real-time information to drivers. This information will include messages on traffic conditions, incidents, weather, construction, safety, and special events so motorists can make decisions about their travel options. ($12 million).

“Every day at MDX, we work hard to make sure the roadways are safe, clean and ready for use. We strive to provide a value in all our projects that make the highways work better for long term growth of our community. From Road Ranger service to large scale reconstruction projects, MDX will continue to deliver value”.

–Alfred Lurigados, P.E., MDX Deputy Executive Director/Director of Engineering.

22 23MDX Popular Annual Financial Report (PAFR) MDX Popular Annual Financial Report (PAFR)

Future Projects Our continued population growth, its accompanying urban expansion, as well as Miami-Dade’s increased participation in global commerce and tourism, will only increase the pressures on our roadway system. To help address these challenges, MDX has completed the Planning phase for the following improvements:

SR 874 Ramp Connector The Planning Study has been completed for a new 1.2 mile ramp connection from SR 874 Don Shula Expressway to SW 128th Street. This project is being coordinated as part of a larger project being constructed by the Florida’s Turnpike Enterprise scheduled to begin in 2013.

SR 836/I-95 Interchange MDX, in partnership with FDOT, is planning for a new elevated eastbound ramp for the exclusive use of the NW 12th Avenue traffic destined for Interstate 95 (I-95) and for Interstate 395 (I-395); as well as a future elevated ramp from southbound I-95 to eastbound SR 836/Dolphin Expressway with a new ramp at NW North River Drive to provide direct access to the Civic Center Complex area.

SR 836 Improvements MDX has evaluated improvements to provide additional capacity and safety to SR 836/Dolphin Expressway between NW 67th Avenue and 17th Avenue, as well as improvements to its interchanges with NW 57th Avenue, NW 42nd Avenue, and NW 27th

Avenue. MDX has funded the initial phase of this project which is anticipated to begin in 2015.

SR 836/87th Avenue MDX is currently designing the reconstruction of the SR 836/Dolphin Expressway interchange with NW 87th Avenue in order to improve traffic operations and safety. A new flyover ramp will provide direct connection from westbound NW 12th Street to westbound SR 836 which will substantially reduce congestion at the intersection of NW 87th Avenue and NW 12th Street. Construction for this project is not yet funded.

SR 924 West Extension MDX has evaluated the potential for a 2.3 mile extension of SR 924 Gratigny Parkway (just east of SR 826/Palmetto Expressway) west through 1-75 and along the NW 138th Street corridor, which is currently under construction by the City of Hialeah to become a six-lane, divided roadway. The study is scheduled to be completed in early 2013.

The following are Long-Range projects that MDX is evaluating in order to assess their economic impact, safety, accessibility and mobility elements. These projects still require significant planning, engineering and public outreach.

SR 924 East Extension Because expressway capacity is inadequate in the northern part of Miami-Dade County, MDX is studying a potential 3.1 mile extension of SR 924 Gratigny Parkway east to I-95. The project would enhance mobility to travelers by providing a limited access interconnection of the county’s major highways: SR 826 Palmetto Expressway, I-75, Homestead Extension of the Florida’s Turnpike, and I-95. The study is scheduled to be completed in early 2013.

US 1 Express Lanes MDX is evaluating potential enhancements to the existing Miami-Dade Transit Busway that could improve existing transit service and safety. It will further evaluate the use of any excess capacity of the Busway by private vehicles paying a toll, which in turn would ease congestion in the parallel US 1 Corridor. The study is anticipated to be completed in 2015.

All of MDX’s projects are implemented through an active public outreach program to ensure that the community is involved and informed.


Our Partners MDX coordinates and cooperates with state and local transportation partners such as:

Florida Department of Transportation (FDOT) Reconstruction of the Central Boulevard, the main roadway connecting the Miami International Airport (MIA) to SR 836/Dolphin Expressway and SR 112/Airport Expressway.

• Construction $70 million• MDX contribution $35 million• Completion-2013

Reconstruction of SR 826/Palmetto Expressway and SR 874/Don Shula Expressway Interchange.

• Construction $200 million• MDX contribution $60 million• Completed – 2012

Reconstruction of SR 826/Palmetto Expressway and SR 836/Dolphin Expressway Interchange

• Construction $560 million• MDX contribution $207 million• Completion-2015

Miami-Dade Metropolitan Planning Organization (MPO)/Miami-Dade Transit MDX allowed buses to use the shoulders when traffic on the road is traveling slower than 25 mph.

• Implemented on SR 874/Don Shula Expressway and SR 878/Snapper Creek Expressway

• Implementation on SR 836/Dolphin Expressway will begin at the end of 2012.

Florida Highway Patrol (FHP)/Florida’s 511 Travelers Information System A network of cameras and equipment installed along the MDX System monitors traffic flow and incidents. It alerts the Traffic Management Center (TMC) operators when traffic conditions change.

The TMC is located at the FDOT District 6 Office

• FDOT and MDX share the cost of operating the traffic management center

• Emergency vehicles and Road Rangers are dispatched to incident locations on the MDX system 24/7/365

• The TMC sends information to electronic signs used to inform motorists of real-time traffic conditions, construction information, emergency alerts and special events.

"Alliances have become an integral part of contemporary strategic thinking." – Fortune Magazine

Open Road Tolling What is ORT? Open Road Tolling (ORT) is an electronic toll collection system without toll plazas. Drivers pay a user fee (toll) without having to stop, slow down, or stay in a given lane while vehicles travel at highway speed.

Because there is no stopping at toll plazas ORT is Safer, Faster and Friendlier to the Environment. It is Fair as all of the users pay, but only for the segment of the road they drive.

ORT has fast become globally accepted, as electronic toll collection technologies improve in accuracy and affordability.

MDX first implemented ORT at the SR 836/Dolphin Expressway Extension from 107th Avenue to 137th Avenue in 2007. In 2010, SR 924/ Gratigny, SR 874/Don Shula and SR 878/Snapper Creek Expressways were converted to ORT. The remaining two expressways, SR 112/Airport and SR 836/Dolphin Expressways, are expected to be converted to ORT by 2014.

“Previous generations once saw tolling as a barrier to mobility because you had to stop and wait. The advent of electronic toll collection has turned that concept on its head.” – Patrick D. Jones, Executive Director and Chief Executive Officer of the International Bridge, Tunnel and Turnpike Association (IBTTA).

MDX’s contribution of over $400 million in partnerships has made it possible for many local projects to be advanced.


The SR 836/Dolphin Expressway from the SR 826/Palmetto Expressway to I-95 opened in 1969, the extension to the HEFT opened in 1974 and a second western extension opened in 2007.

The SR 112/Airport Expressway runs East to West and it connects the Miami International Airport with Miami Beach. It was built in 1961.

2002 | $44 Million Reconstruction of the toll plaza and mainline from 27th to 17th Avenues - First Express Sunpass® Lanes.

2014 | Open Road Tolling – Faster, Safer, Friendlier to the Environment.

That Was Then That Was Then

This is Now

This is the Future

2003 | Demolished toll plaza canopy and provided two express lanes for Northbound and Southbound movements which increased mobility.

This is Now

2014 | Open Road Tolling – Faster, Safer, Friendlier to the Environment

This is the Future


As a public agency, MDX awards contracts for goods and services through an open and competitive process. MDX's commitment to Miami-Dade County extends far beyond the construction and maintenance of roadways. MDX is committed to providing equal opportunity for all businesses to participate in our procurement and contracting process. We implement checks and balances to ensure an open, transparent and competitive procurement environment, while promoting the local economy. We are actively reaching out to the community and empowering businesses to gain additional professional experiences.

To ensure the equitable participation of small and local businesses in its contracts, MDX has adopted the following policies:

• Small Business Participation Policy – A minimum of 10% of every contract must be committed to small businesses

• Local Business Preference in Procurement Policy – Preference given to MDX certified Local Businesses in a solicitation

MDX believes education is the foundation of economic development in Miami-Dade County. Unemployment reached its peak in Miami-Dade County at 13% in 2010. As of the 2nd quarter of 2012, unemployment is down to 10%. MDX recognizes the importance of helping individuals get back to work.

We don’t stop there. MDX, in partnerships with local institutions such as Miami-Dade College and Florida International University, implements dynamic Educational Programs:

• Small and Local Business Outreach Program – Open to all registered MDX vendors

– Offers free or discounted certification and training to small and local firms

– Provides networking opportunities for small and local businesses to meet and partner with larger companies

• Career Enhancement Program – Offers free technical certifications and training to unemployed individuals in the construction and engineering fields to help them become more competitive in the job market

• Entrepreneurship Program – Provides free college credited courses while gaining skills required for the daily operations and management of their businesses: Entrepreneurship, Fundamentals of Selling, Intro to E-Commerce, Small Business Management

• Community Partnerships – Chamber of Commerce (Greater Miami, Miami-Dade)

– County and Municipalities

– National Minority Supplier Development Council Expo (NMSDC)

– Miami-Dade County Agency Expo’s

– Southern Florida Minority Supplier Development Council Expo

– Minority Enterprise Development Week

– Florida International University

– Miami-Dade College

“MDX takes pride in carrying out a transparent procurement process that affords an impartial opportunity to all that wish to do business with MDX.”– Helen Cordero, MDX Manager of Procurement & Contracts Administration

“Miami Dade College is pleased to help these dedicated entrepreneurs gain the tools to build their own pathway to prosperity.”

– Thania Rios, Associate Dean of Miami-Dade College School of Business

In fiscal year 2012, of the $104 million contracted, 32% went to small and local businesses.

The Tow-To-Go program provides a free tow home to drivers under the influence of alcohol over holiday weekends.

Partnerships with local agencies for promoting seat belt usage and discouraging distracted driving. Text The Last Word campaign.

Working For The Cure - MDX proudly “went pink” and raised funds to support breast cancer awareness as part of the Safety Campaign.

MDX Road Rangers free highway assistance services during incidents to reduce delay and improve safety on a 24/7/365 basis. Over 3.5 million service assists since the program’s inception in 2000.

MDX participated in various events including the ING Marathon and Miami-Dade Days in Tallahassee. MDX also partnered with the Miami-Dade County Public School System in a “Don’t Text & Drive” Bumper Sticker Contest.

While MDX’s expressways facilitate the movement of commuters, they also serve as vital arteries of Miami-Dade’s economic life. They provide flexible means of transportation by which to get tourists to hotels, equipment to factories, finished goods to stores, and farm products to market.

Some of the economic benefits of our local transportation system are exemplified by the following:

• Miami-Dade has a trade-oriented economy, and transportation has been a key to the economic development the region has enjoyed stemming from globalization and closeness to Latin America and the Caribbean.

• The community’s surface transportation network is an important facilitator of the movement of cargo and tourists between PortMiami and Miami International Airport, and to and from other areas.

• These arteries have made possible the development of major distribution centers, notably in western Miami-Dade – along with the thousands of jobs they generate.

Enhancements to the area’s surface transportation infrastructure are a critical priority to continue to meet goals for trade and tourism in the region.

Miami-Dade County Expressway Authorityd/b/a Miami-Dade Expressway Authority and MDX

3790 NW 21st Street | Miami, Florida 33142www.mdxway.com

Miami-Dade Expressway Authority

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