TABLE OF CONTENTS
Page/ s
INTRODUCTION

1

2006 HIGHLIGHTS AND LOANS

2

FINANCIAL CONDITION OF HELP FUND

4 -9

HELP PROJECT LOCATION MAP

10 - 11

¡

INTRODUCTION
The Highway Expansion and Extension Loan Program (HELP) provides the state and its
communities with an innovative financing mechanism to accelerate the funding of road
construction projects. This mechanism is referred to as a State Infrastructure Bank (SIB) and was
initially authorized by Congress in 1995. A SIB operates like a bank by providing loans or credit
enhancement for highway projects.
HELP, Arizona’s SIB, was established in 1998, and is operated under the authority of the State
Transportation Board. A seven member HELP Advisory Committee accepts loan applications,
reviews and evaluates requests for financial assistance, and makes recommendations to the State
Transportation Board on loan and financial assistance requests.
The cur rent members of the State Transportation Board are:
James W. Martin, Chair
Joe Lane, Vice Chair
Si Schorr
Delbert Householder
Robert Montoya
Felipe Andres Zubia
Bill Feldmeier

Willcox
Phoenix
Tucson
Thatcher
Flagstaff
Avondale
Prescott

The current members of the HELP Advisory Committee are:
John McGee, Chair
(as designee of Victor Mendez)
Bill Beyer
Jim Glock
Paul Schwartz
Lela Steffey
Michael Anderson
Robert Jackson

ADOT
Glendale
Tucson
Sun City
Mesa
Page
Maricopa

1

2006 HIGHLIGHTS AND LOANS
HELP continues to be among the most active State Infrastructure Banks in the nation. The
Federal Highway Administration collects loan activity data from the states and periodically
publishes this information. As of the December 31, 2005 SIB loan activity data, HELP ranked:
•
•
•

fourth in total number of approved loans (53);
third in total amount of approved loans ($582 million); and
second in loan amounts disbursed to recipients ($510 million).

Four new HELP loans were approved during the year including:
I-17, Dixileta Drive Traffic Interchange Project, City of Phoenix
Date Approved: November 18, 2005
Loan Amount: $11,900,000
Interest Rate: To be determined.
Project Acceleration: 5 years
Project: The City of Phoenix will use the proceeds of the HELP loan to advance the design, right
of way acquisition and construction of the Dixileta Drive Traffic Interchange on Interstate 17 in
north Phoenix. This new half diamond interchange will include ramps to and from the south,
reconstruction of existing frontage roads, traffic control devices, lighting and landscaping. The
HELP loan will allow this project to be advanced from 2012.
Highway 80 and Yellow Jacket Way Project, City of Tombstone
Date Approved: November 18, 2005
Loan Amount: $150,000
Interest Rate: To be determined.
Project Acceleration: 5 years
Project: The City of Tombstone plans to add egress, acceleration and deceleration lanes at the
intersection of Highway 80 and Yellow Jacket Way. This is the location of a new high
school and the project will enhance safety and reduce school bus exposure to oncoming
traffic.

2

I-10 Widening Design, Loop 101 to Sarival Avenue Project, City of Goodyear
Date Approved: April 21, 2006
Loan Amount: $7,369,000
Interest Rate: To be determined.
Project Acceleration: 2 to 6 years (construction project)
Project: This loan will allow the design to be advanced for the widening of Interstate 10 between
Loop 101 and Sarival Avenue. The design projects will be advanced from fiscal years 2009 and
2012 to fiscal years 2007 and 2008. The construction projects will add a new general purpose
lane on the outside of the existing mainline and a high occupancy vehicle lane in the median
between the Loop 101 and Dysart Road. In addition, a new high occupancy vehicle lane and two
general purpose lanes will be added between Dysart Road and Sarival Avenue. The construction
projects will be advanced from fiscal years 2011 and 2014 to fiscal years 2008 and 2009.
Highway 91 and Beaver Dam Wash Bridge Project, Mohave County
Date Approved: April 21, 2006
Loan Amount: $8,700,000
Interest Rate: To be determined.
Project Acceleration: 4 years
Project: Mohave County will use the loan proceeds to replace the Beaver Dam Wash Bridge on
Highway 91. This bridge was severely damaged by flooding in January 2005 and is eligible for
federal Emergency Relief (ER) funds, however, this funding may not be available for several
years. The HELP loan will allow the county to undertake repairs in advance of receipt of the ER
funds. The new bridge will be constructed to current standards providing enhanced safety and
efficiency.

3

FINANCIAL CONDITION OF HELP FUND
Arizona Department of Transportation
Highway Expansion and Extension Loan Program Fund
Statement of Net Assets
For the fiscal years ended June 30, 2005 and 2004
(Unaudited)

Assets
Current assets:
Restricted cash on deposit with the State Treasurer
Receivables:
Accrued interest
Loans
Due from other Arizona Department of Transportation
funds
Due from Arizona counties and cities
Total current assets
Noncurrent assets:
Receivables:
Loans
Total noncurrent assets
Total assets
Liabilities
Current Liabilities:
Accrued payroll and other accrued expenses
Compensated absences
Total current liabilities
Noncurrent liabilities:
Interfund Payable
Notes payable
Total noncurrent liabilities
Total liabilities
Net assets
Restricted for loans and other financial assistance
Total net assets

4

2006

2005

$ 88,775,892

$ 95,305,084

430,840
39,086,414

272,427
16,533,685

805,271
120,432
129,218,849

4,531,210
203,158
116,845,564

109,007,095
109,007,095
238,225,944

114,896,628
114,896,628
231,742,192

5,209
13,021
18,230

4,310
10,120
14,430

20,000,000
150,494,466
170,494,466
170,512,696

20,000,000
146,454,466
166,454,466
166,468,896

67,713,248
$ 67,713,248

65,273,296
$ 65,273,296

FINANCIAL CONDITION OF HELP FUND
Arizona Department of Transportation
Highway Expansion and Extension Loan Program Fund
Statement of Activities
For the fiscal years ended June 30, 2005 and 2004
(Unaudited)

Operating revenues:
Interest on loans receivables
Total operating revenues
Operating expenses:
Salaries and related benefits
Supplies
Professional and outside services
Travel
Interest on notes payable
Other
Total operating expenses
Operating loss
Non-operating revenues:
Interest on investments
Total non-operating revenues
Changes in net assets
Total net assets - July 1
Total net assets - June 30

2006

2005

3,281,361
3,281,361

3,008,667
3,008,667

133,778
962
96,269
667
4,040,000
1,753
4,273,429
<992,068>

201,557
877
110,301
1,297
4,040,000
5,700
4,359,732
<1,351,065>

3,432,020
3,432,020
2,439,952
65,273,296
$ 67,713,248

5

2,724,486
2,724,486
1,373,421
63,899,875
$ 65,273,296

HIGHWAY EXPANSION AND EXTENSION LOAN PROGRAM
(HELP)
LOAN STATUS AS OF SEPTEMBER 2006
STATEWIDE LOANS
PROJECT
SPONSOR

PURPOSE OF
LOAN

PROJECT
LOCATION
SR260, Show Low to
Pinetop

LOAN
APPROVAL

INTEREST
RATE*

MAXIMUM
LOAN

ADOT

Reconstruction

TOWN OF CHINO
VALLEY

02/18/2000

2.93%

$5,664,000

Feb-02

$4,666,837

Construction

Center Street

03/17/2000

4.50%

$300,000

Jan-05

$300,000

Paid in full
01/11/2005

ADOT

Design,
Right of Way

Various projects state
wide

05/19/2000

3.46%

$5,707,000

Mar-04

$5,165,861

Paid in full
03/16/2004

CITY OF
SIERRA VISTA

Construction

Buffalo Soldier Trail
7th St. to SR 90

07/21/2000

4.00%

$1,970,000

Jun-03

$1,970,000

Paid in full
06/13/2003

LA PAZ COUNTY

Reconstruction

Salome Road Centennial Wash

12/18/2000

2.93%

$2,000,000

Jan-04

$1,448,568

Paid in full
05/31/2002

ADOT

Reconstruction

SR 260, Pinetop
to Hon-Dah

01/19/2001

2.93%

$8,400,000

May-03

$6,038,856

Paid in full
05/20/2003

SANTA CRUZ
COUNTY

Reconstruction

South River Road

01/19/2001

3.11%

$1,150,000

Jan-07

$643,827

Paid in full
09/27/2005

ADOT

Design

03/16/2001

3.32%

$1,000,000

Jan-05

$1,000,000

Paid in full
01/20/2005

CITY OF YUMA

Reconstruction

04/20/2001

1.65%

$1,000,000

Dec-06

$1,000,000

$200,000

TOWN OF
TAYLOR

Reconstruction

Paper Mill Road

05/18/2001

3.42%

$1,000,000

Jun-05

$1,000,000

Paid in full
06/02/2005

ADOT

Reconstruction

SR 260,
Christopher Creek

05/18/2001

2.85%

$41,900,000

Jul-05

$37,678,400

Paid in full
06/22/2005

TOWN OF
PAYSON

Reconstruction

McLane Road

06/15/2001

3.56%

$1,100,000

Jul-06

$1,100,000

Paid in full
06/30/2006

CITY OF YUMA

Reconstruction

06/15/2001

1.77%

$2,000,000

Jul-06

$2,000,000

ADOT

Design,
Right of Way

09/21/2001

1.76%

$3,216,000

Sep-03

$2,031,264

TOWN OF MIAMI

Reconstruction

01/18/2002

2.20%

$80,000

Jun-05

$80,000

ADOT

Construction

03/15/2002

1.35%

$13,855,000

Oct-04

$13,855,000

Naha 'Ta' Dziil Rd
Sanders TI
Ave. A, 40th Street to
Desert Avenue

I-8, Giss Parkway Redondo Drive TI
SR89A, Glassford Hill
Section
Rose Road &
Sullivan Street
SR 89A, Glassford Hill
Section

FINAL
DRAWS TO
MATURITY
DATE

OUTSTANDING
LOAN BALANCE
Paid in full
02/25/2002

Paid in full
07/05/2006
Paid in full
09/17/2003
Paid in full
06/02/2005
Paid in full
10/19/2004

LOAN STATUS AS OF SEPTEMBER 2006
STATEWIDE LOANS
PROJECT
SPONSOR

PURPOSE OF
LOAN

PROJECT
LOCATION
Avenue 3E Traffic
Interchange
SR 89A, Glassford Hill
Section
US 60/SR 79 Traffic
Interchange
SR 95, Parker to
Lakeside

LOAN
APPROVAL

INTEREST
RATE*

MAXIMUM
LOAN

ADOT

Construction

YAVAPAI COUNTY

Construction

ADOT

Right of Way

ADOT

Design

GILA COUNTY

Reconstruction

GILA COUNTY

Reconstruction

03/15/2002

0.86%

$9,900,000

Aug-04

$9,900,000

03/15/2002

1.83%

$4,500,000

Jun-05

$4,500,000

03/15/2002

1.56%

$4,000,000

Oct-04

$2,691,459

03/15/2002

1.14%

$500,000

May-05

$500,000

Fossil Creek Road

04/19/2002

1.43%

$1,237,500

Mar-09

$1,237,500

$618,720

04/19/2002

1.81%

$600,000

Jun-08

$600,000

$350,000

ADOT

Construction

05/17/2002

1.99%

$5,000,000

Jun-06

$5,000,000

YAVAPAI COUNTY

Construction

06/21/2002

2.25%

$4,500,000

Jun-06

$4,500,000

CITY OF LAKE
HAVASU CITY

Reconstruction

06/21/2002

1.18%

$789,508

Feb-05

$789,508

ADOT

Design

06/21/2002

1.35%

$650,000

Nov-06

$650,000

CITY OF SAFFORD

Construction

20th Avenue

08/16/2002

2.42%

$2,000,000

Oct-07

$2,000,000

$1,285,000

TOWN OF
THATCHER

Construction

20th Avenue

08/16/2002

1.56%

$2,000,000

Oct-07

$2,000,000

$180,000

GILA COUNTY

Construction

Six Shooter Road and
Bridge

04/19/2002

$487,500

Jun-08

-

-

CITY OF KINGMAN

Construction

North Bank Street

09/23/2005

$2,000,000

Oct-10

-

-

CITY OF
TOMBSTONE

Construction

Yellow Jacket Way

11/18/2005

$150,000

Nov-10

-

-

MOHAVE COUNTY

Design and
Construction

Highway 91, Beaver
Dam Wash Bridge

04/21/2006

$8,700,000

Jun-10

-

-

TOWN OF
MAMMOTH

Reconstruction

Main Street

12/14/2001

$334,800

-

Six Shooter Canyon
Road
SR 260, Cottonwood to
Camp Verde
Fain Road Realignment
SR 95, North City
Limits
Fort Grant Road Traffic
Interchange

To be
Determined
To be
Determined
To be
Determined
To be
Determined
-

* Interest rate will be determined by the State Transportation Board when the first construction draw is made.

FINAL
DRAWS TO
MATURITY
DATE

Withdrawn

OUTSTANDING
LOAN BALANCE
Paid in full
08/19/2004
Paid in full
06/06/2005
Paid in full
10/19/2004
Paid in full
05/19/05

Paid in full
06/19/2006
Paid in full
05/31/2006
Paid in full
02/01/2005
Paid in full
04/26/2006

-

LOAN STATUS AS OF SEPTEMBER 2006
MAG LOANS
PROJECT
SPONSOR
CITY OF MESA
CITY OF
CHANDLER
ADOT

PURPOSE OF
PROJECT
LOAN
LOCATION
New Construction
Red Mountain Freeway:
Urban Freeway
Country Club to Gilbert
System
New Construction
Price Freeway: Warner
Urban Freeway
to Frye
System
Purchase of Right
Various: As stipulated
of Way for Urban
in Senate Bill 1201
Freeway System

LOAN
APPROVAL

INTEREST
RATE*

MAXIMUM
LOAN

FINAL
DRAWS TO
MATURITY
DATE

OUTSTANDING
LOAN BALANCE

03/20/1998

4.41%

$24,000,000

Mar-03

$24,000,000

Paid in full
03/21/2003

03/20/1998

3.59%

$26,000,000

Jul-02

$26,000,000

Paid in full
11/30/2001

11/15/1999

3.92%

$100,000,000

Jun-01

$90,324,109

Paid in full
06/28/2001

ADOT/
CITY OF PHOENIX

Construction

SR 51 Completion
Union Hills - L101

11/17/2000

2.48%

$22,500,000

Jun-05

$22,500,000

Paid in full
02/17/2005

ADOT

Right of Way,
Construction

Regional Freeway
System

09/21/2001

3.30%

$50,000,000

Dec-08

$50,000,000

$47,500,000

ADOT

Right of Way,
Construction

Regional Freeway
System

11/21/2003

1.44%

$80,500,000

Aug-08

$80,500,000

$80,500,000

CITY OF PHOENIX

Design, Right of
Way, Construction

Dixileta Drive TI

11/18/2005

To be
Determined

$11,900,000

Jun-10

-

-

CITY OF
GOODYEAR

Design

I-10 Widening

04/21/2006

To be
Determined

$7,369,000

Jun-10

-

-

* Interest rate will be determined by the State Transportation Board when the first construction draw is made.

LOAN STATUS AS OF SEPTEMBER 2006
PAG LOANS
PROJECT
SPONSOR

PURPOSE OF
LOAN

PROJECT
LOCATION

LOAN
APPROVAL

INTEREST
RATE*

MAXIMUM
LOAN

CITY OF TUCSON

Street
Improvements

6th Avenue, 19th Street
to I-10

03/17/2000

4.50%

$2,000,000

Jan-05

$2,000,000

Paid in full
05/01/2001

ADOT

Design,
Right of Way

Various projects in
Pima County

05/19/2000

1.77%

$5,285,000

Jun-05

$5,285,000

Paid in full
06/22/2005

CITY OF TUCSON

Street
Improvements

6th Avenue, Ajo Way to
Rodeo Wash

06/15/2001

2.91%

$4,500,000

Jan-06

$4,500,000

Paid in Full
01/03/2006

ADOT

Construction

I-10 / I-19 Interchange

09/21/2001

2.11%

$62,500,000

Jan-06

$62,500,000

Paid in full
04/18/2005

PIMA COUNTY

Street
Improvements

Ajo Way, Country Club
to Alvernon

12/14/2001

3.23%

$3,700,000

Jul-07

$3,700,000

$332,772

PIMA COUNTY

Street
Improvements

Shannon Road,
Ina Rd to Magee Rd

12/14/2001

3.23%

$1,400,000

Jul-07

$1,400,000

$100,000

ADOT

Design

I-10 Mainline,
Grant to Congress

03/15/2002

0.86%

$5,500,000

Jun-06

$4,098,869

Paid in full
06/20/2006

TOWN OF ORO
VALLEY

Construction

Tangerine Road
Widening

08/16/2002

1.19%

$1,716,000

Jul-05

$1,716,000

Paid in full
08/01/2005

TOWN OF ORO
VALLEY

Construction

La Canada Drive
Extension

02/20/2004

2.52%

$5,000,000

Feb-08

$5,000,000

$2,604,143

TOWN OF MARANA

Construction

Thornydale Road

11/19/2004

2.51%

$7,000,000

Mar-10

$7,000,000

$4,900,000

PIMA COUNTY

Construction

Alvernon Way, River
Rd. to Fort Lowell

05/20/2005

3.06%

$4,836,000

Jun-08

$4,836,000

$4,836,000

CITY OF TUCSON

Construction

Harrison Road

08/20/2004

To be
Determined

$12,293,000

Jan-09

-

-

ADOT

Construction

I-10, Pinal Air Park
to Marana TI

11/19/2004

To be
Determined

$18,500,000

Jul-09

-

-

TOWN OF
SAHUARITA

Construction

La Canada Phase II

09/23/2005

-

$3,900,000

-

* Interest rate will be determined by the State Transportation Board when the first construction draw is made.

FINAL
DRAWS TO
MATURITY
DATE

Withdrawn

OUTSTANDING
LOAN BALANCE

-

11

Map Table
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37

Project Name
SR260 Showlow to Pinetop
Center Street
Carr Canyon Rd. - Hunter Canyon Rd.
Van’s Trading Post - East of SR264
Lake Havasu Blvd - Old London Bridge Rd.
US60 - SR79 TI
Glassford Hill
Ave 3E SR280 TI
Buffalo Soldier Trail
Salome Rd. Centennial Wash
SR260, Pinetop - Hon-dah
South River Rd.
Naha Ta Dziil Rd / Sanders TI.
Ave. A 40th st to Desert Ave
Paper Mill Rd.
SR260, Christopher Creek
McLane Rd.
I-18 - Giss Parkway - Redondo Dr. TI
SR89A, Glassford Hill Section
Rose Rd. to Sullivan Street
SR89A, Glassford Hill Section
Avenue 3E TI.
SR89A, Glassford Hill Section
US60 - SR79 TI
SR95 Parker to Lakeside
Fossil Creek Rd.
Six Shooter Canyon Rd.
SR260 Cottonwood to Camp Verde
Fain Rd. Realignment
SR95, North City Limits
Fort Grant Rd. TI
20th Avenue
20th Avenue
Six Shooter Rd. and Bridge
North Bank Street
Highway 91, Beaver Dam Wash Bridge
Yellow Jacket Way

Project Description
Reconstruction
Construction
Design
Design
Design
Design
Design
Design
Construction
Reconstruction
Reconstruction
Reconstruction
Design
Reconstruction
Reconstruction
Reconstruction
Reconstruction
Reconstruction
Design
Reconstruction
Reconstruction
Reconstruction
Reconstruction
Reconstruction
Reconstruction
Reconstruction
Reconstruction
Construction
Construction
Construction
Construction
Construction
Construction
Construction
Construction
Construction
Construction

Loan Amount
$5,664,000
$300,000
$457,000
$500,000
$1,850,000
$600,000
$1,500,000
$800,000
$1,970,000
$2,000,000
$8,400,000
$1,150,000
$1,000,000
$1,000,000
$1,000,000
$41,900,000
$1,100,000
$2,000,000
$3,216,000
$80,000
$13,855,000
$9,900,000
$4,500,000
$4,000,000
$500,000
$1,237,500
$600,000
$5,000,000
$4,500,000
$789,508
$650,000
$2,000,000
$2,000,000
$487,500
$2,000,000
$8,700,000
$150,000
$137,356,508

City / Location
Showlow
Chino Valley
Cochise Cty
Coconino Cty
Mohave Cty
Pinal Cty
Prescott Valley
Yuma
Sierra Vista
La Paz Cty
Pinetop
Santa Cruz Cty
Apache Cty
City of Yuma
Town of Taylor
Gila Cty
Payson
Yuma
Prescott Valley
Miami
Prescott Valley
Yuma
Prescott Valley
Pinal Cty
Parker
Gila Cty
Gila Cty
Yavapai Cty
Yavapai Cty
Mohave Cty
Cochise Cty
Safford
Thatcher
Gila Cty
Kingman
Mohave Cty
Tombstone

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16

6th Avenue Project
I-10 - I-19 TI
I-10 Mainline Prince Rd.
I-10 - I-19 TI
th
6 Avenue Project Phase II
JCT I-10 / I-19 Phase 1&2
Ajo Way - Country Club Rd -Alvernon Way
Shannon Road: Ina Rd - Magee Rd.
I-10 Mainline Grant - Congress
Tangerine Rd.
La Canada Dr. Extension - Tangerine Rd.
Thornydale Rd. Reconstruction
Harrison Rd., Speedway - Old Spanish Trail
I-10 Pinal Park Air Park - Marana TI.
Alvernon Way - River Rd. - Lowell Rd.
Town of Sahuarita

Street improvements
Design
Design
Design
Street improvements
Construction
Street Improvements
Street Improvements
Design
Construction
Construction
Reconstruction
Construction
Construction
Construction
Construction

$2,000,000
$3,285,000
$1,000,000
$1,000,000
$4,500,000
$62,500,000
$3,700,000
$1,400,000
$5,500,000
$1,716,000
$5,000,000
$7,000,000
$12,293,000
$18,500,000
$4,836,000
$3,900,000
$138,130,000

Tucson
Pima Cty
Pima Cty
Pima Cty
Tucson
Tucson
Pima Cty
Pima Cty
Pima Cty
Oro Valley
Oro Valley
Pima Cty
Oro Valley
Pima Cty
Pima Cty
Pima Cty

Red Mountain Country Club - Gilbert
Price Freeway - Warner - Frye
Various: as stipulated / MAG
SR51 Completion Union Hills - L101
Regional Freeway System / MAG
Regional Freeway System / MAG
Dixileta Drive TI.
I-10 Widening

Construction
Construction
Right of way
Construction
ROW Construction
ROW Construction
Construction
Design

$24,000,000
$26,000,000
$100,000,000
$22,500,000
$50,000,000
$80,500,000
$11,900,000
$7,369,000
$322,269,000

Mesa
Chandler
Maricopa Cty
Phoenix
Maricopa Cty
Maricopa Cty
Maricopa Cty
Phoenix

1
2
3
4
5
6
7
8

Grand Total

12

$597,755,508

Prepared By:
Arizona Department of Transportation
Financial Management Services
Highway Expansion and Extension Loan Program Section
206 S. 17th Avenue, Suite 200 B
Phoenix, AZ 85007-3213
Phone (602) 712-7441 * Fax (602) 712-6672