meeting the increased needs, coupled with the more optimistic current view of the economic future, have raised the whole level of financial feasibility of toll roads, but have had but little effect on the relative order of feasibility of particular routes.
Toll roads authorized or proposed
In addition to the mileage of toll roads already in operation or under construction many more miles have been authorized or proposed. Table 2 shows that over 3,300 miles of arterial toll roads have been authorized and another 2,250 proposed, making in total—operating, under construction, authorized, or proposed—nearly 8,200 miles of such roads.
Some of the mileage authorized or proposed undoubtedly will be found feasible and will be built. Certain mileage authorized has already been found not to be feasible at this time, however, and has been deferred at least for the present. And some routes have been authorized with the understanding that sections will be financed as they may be found feasible, without expectation that the entire length will be constructed in the near future.
On the other hand, at the close of 1954, authority for financing highways through revenue bonds existed in but 29 States. Undoubtedly projects in some States in which such authority does not exist would be financially feasible and might be built as toll roads should the policy be changed in those States.
Thus the projected toll roads included in the last two categories in table 2, approximately 5,550 miles in length, must be regarded merely as those that might be built should conditions of the future justify. It should not be assumed that there is definite prospect of toll roads on the particular locations listed or in the total amount shown.
FEASIBILITY OF ADDITIONAL TOLL ROADS
Study of the feasibility of toll roads made at the direction of Congress included analyses of the feasibility of constructing roads through revenue-bond financing supplemented by such other revenues as normally accrue in toll-road operations. The estimates of feasibility were made for routes in all States, irrespective of whether legislation authorized toll financing of highways. The investigation excluded routes on which improvement now existing or programed was expected to meet the traffic demands of the future. Thus the mileage estimated to be feasible as toll roads is in addition to mileage, either toll or free, that now meets traffic requirements or on which definitely programed improvements will make it satisfactory. The mileage estimated to be feasible of toll financing is in no way related to the mileage of toll roads now authorized or proposed in the various States.
Basis of estimates
A report on the feasibility of toll roads throughout the United States, prepared within the time and cost limitation of this study, must necessarily be in most general terms. Accurate determination of the feasibility of a single project requires intensive studies of construction cost and of traffic, taking into consideration the origin and destination of trips, which generally cannot be completed in less than about a year. Such studies have been made for some individual projects but the
