Transportation Corridor Agencies ‘Look in the Rearview Mirror’ at Fiscal Year 2022 Accomplishments in Year in Review Report
Irvine, Calif. - September 02, 2022
The Transportation Corridor Agencies (TCA) are pleased to debut their Year in Review publication that offers a glance at the Agencies’ highlights during Fiscal Year 2022 (FY22). The report was published today at TheTollRoads.com.
“The FY22 Year in Review report wonderfully illustrates how TCA contributes to Orange County’s vibrant economy and quality of life through its commitment to enhancing mobility, safety and innovation,” said Foothill/Eastern Transportation Corridor Agency (F/ETCA) Chair and Yorba Linda Council Member Peggy Huang. “This year’s report truly illustrates the beauty of our county, our roads and our environmental efforts.”
“The report is a testament to the collaboration and dedication of TCA’s Boards of Directors and staff to ensuring The Toll Roads support the movement of people and goods while prioritizing fiscal stewardship, operational health and innovation,” said Will O’Neill, Chair of the San Joaquin Hills Transportation Corridor Agency (SJHTCA) and Newport Beach Council Member.
The online Year in Review focuses on highlights of the year, including:
- Adoption of inaugural Strategic Plan: The Boards of Directors adopted a seven-year Strategic Plan highlighting the Agencies’ mission, values, goals, objectives and activities, marking the first time in TCA’s 35-year history that a long-term Strategic Plan has been developed and adopted. The plan continues the Agencies’ philosophy of self-reliance, delivering $600 million in capital improvements and the early paydown of debt which will cumulatively amount to $1.4 billion in debt savings.
Two Million FasTrak® Accounts: TCA hit a significant milestone when the 2 millionth FasTrak account was opened, which occurred just four years after reaching 1 million accounts and only two years after reaching 1.5 million accounts.
- State Route 73 Turned 25: September 2021 marked the 25th anniversary of the 73 Toll Road, which opened in 1996 after three years of construction. The project set records as the largest startup toll road financing in U.S. history, as well as the largest design build contract in California’s history.
- San Joaquin Hills Transportation Corridor Agency (SJHTCA) Bond Refunding: In an innovative transaction heralded by the industry as a model for other agencies, the SJHTCA completed a bond refunding that saved the Agency $138.7 million net of all transaction costs without extending maturity dates.
“I’m proud to share the Year in Review report with our drivers and stakeholders,” said TCA CEO Samuel Johnson. “While I never pass up an opportunity to reflect and look back, I’m more excited about what is ahead of us. TCA’s colorful past is the foundation for a very bright future.”
The Transportation Corridor Agencies (TCA) are two joint powers authorities formed by the California Legislature in 1986 to plan, finance, construct and operate Orange County’s public toll road system comprised of the 73, 133, 241 and 261 Toll Roads.