In September 2013, the Board of County Commissioners approved an ordinance to index fuel revenue to inflation in Clark County from January 2014 through December 2016. Fuel revenue is generated each time motorists fill up their vehicles with gas. A portion of what we pay at the pump helps fund transportation projects throughout Clark County. This funding measure will help keep up with material and labor costs, raise $700 million in bonding capacity, fund 199 projects and create more than 9,000 jobs. For motorists, this averages out to about a dime a day over the next three years.
The community is investing in Southern Nevada’s future by creating needed jobs for people that will build, maintain and enhance transportation infrastructure; improving overall commute times; accommodating growth; diversifying the economy; and helping ensure Southern Nevada’s community is able to compete regionally, nationally and globally.
As of December 31, 2014, 83 design and construction contracts have been awarded, including 53 local small businesses for a total of $164 million, creating approximately 2,121 jobs.
The Regional Transportation Commission of Southern Nevada (RTC), both the local transportation planning agency and the regional traffic management agency, is working closely with local jurisdictions to fund the design and construction of transportation projects utilizing fuel revenue indexing (FRI). Major projects funded with FRI include the Boulder City Bypass, Flamingo Corridor Improvements, the Maryland Parkway Corridor Project, and Intelligent Transportation Systems (ITS) upgrades.
Without indexing, the RTC was forecasting only $22.4 million a year over the next 10 years, in available funds for street and highway projects, which equates to building one interchange per year, one mile of roadway per year in each jurisdiction, or one beltway segment without bridges per year.