For the Transportation Corridor Agencies (TCA), 2019 was a year of progress for tolling technology, transportation leadership and environmental stewardship.
“TCA worked diligently with transportation and tolling agencies, as well as county and city representatives, to improve mobility throughout the region,” said Mike Kraman, TCA’s Chief Executive Officer. “TCA is in the strongest financial position of its 30-year history and we’ve successfully laid the foundation to bring new and innovative opportunities to our partners for a bright future in 2020.”
2019 highlights include:
- Advancing the 241/91 Express Connector project through a Term Sheet Agreement with the Orange County Transportation Authority, Riverside County Transportation Commission and Caltrans. Construction is expected to begin in 2023.
- Becoming the first agency in California to successfully implement new FasTrak® sticker transponders and simplify account structures for more than 1.6 million accountholders. The new bandage-sized sticker transponder technology is smaller, sleeker and can be used on every tolled bridge, lane and road in California.
- Receiving the Outstanding Transportation Project, in partnership with Rancho Mission Viejo, from the Orange County Branch of American Society of Civil Engineers, for completing Los Patrones Parkway — a 4.5-mile road increasing mobility and providing direct access to the 241 Toll Road from Oso Parkway to Cow Camp Road.
- Completing and obtaining Caltrans’ approval for the South County Traffic Relief Effort Project Study Report (PSR/PDS). And, issuing the Notice of Intent/Notice of Preparation, kicking off the formal environmental review process, to identify workable transportation solutions that improve mobility.
- Paying off $12.8 million in unfunded pension liability; resulting in a present value savings of about $2 million in interest.
- Adopting an integrated pest management policy exploring alternative ways to reduce inorganic chemical use at TCA’s 17 mitigation sites that span more than 2,200 acres of protected open space.
- Improving TCA’s long term financial position, resulting in investment grade ratings by all three major rating agencies, and reducing the Agencies’ debt service by more than $300 million.
The 73, 133, 241 and 261 Toll Roads make up the largest toll road network in California, recording more than 330,000 daily transactions. TCA is the government agency responsible for planning, financing, constructing, maintaining, managing and operating the 51-mile toll road network in Orange County.