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Transportation Corridor Agencies September Board Meeting Highlights and Agency Updates

Highlights from the Joint San Joaquin Hills and Foothill/Eastern Transportation Corridor Agencies September 14 Board Meeting

Irvine, Calif. - September 14, 2023

Staff Presents Budget Status Report for Fiscal Year 2023 (FY 23)

For end of FY23 the Agencies reported strong fiscal management with healthy unrestricted cash reserves that support the Boards approved Strategic Plan. A rise in Toll Roads usage resulted in a six percent revenue increase year over year. Expenditures were below budget as cost containment efforts continued, while debt service coverage ratios met requirements of indentures and current credit ratings.

Flexible investment strategies that took advantage of rising interest rates resulted in increased interest earnings. Debt expense was under budget due to the F/ETCA’s early paydown of $125 million in bond principal that saved the Agencies $6.6 million of interest in FY23 and $180 million in total. Through the Open Market Bond Buyback program, the Agencies paid down $150 million in principal and saved $150 million in interest, with $1.6 million saved in FY23. The program uses unrestricted cash to purchase and retire F/ETCA and SJHTCA bonds in the open market. The program’s benefits are that TCA can purchase bonds at attractive prices and pay off those bonds before the call date, realizing immediate savings.


TCA Restarts Beloved Environmental Program, Fossils in Your Backyard

Fossils In Your BackyardCaltrans will begin paving work on the 241 Toll Road at Loma Ridge to resolve the uneven roadway issues motorists encounter while traveling this stretch of the road.

Crews completed the initial phase of the repair project, which included installation of drainage systems and will move to the paving work beginning Sunday, Sept. 17. The $25 million maintenance project is estimated to be completed by mid-2024 and will require several extended directional closures. Repaving work will be done in phases and scheduled during weekday nighttime hours to limit impacts to motorists.

Pavement work on the Loma Ridge segment will commence on southbound 241 Toll Road with weekly nighttime closures for several weeks. Crews will then shift to the northbound 241 Toll Road for additional paving operations in mid-October. Following completion of work at Loma Ridge, crews will mobilize at the Windy Ridge segment in spring 2024.

Learn more about the program (PDF).


241 Pavement Repair Project Slated to Begin at Loma Ridge

Caltrans will begin paving work on the 241 Toll Road at Loma Ridge to resolve the uneven roadway issues motorists encounter while traveling this stretch of the road.

Crews completed the initial phase of the repair project, which included installation of drainage systems and will move to the paving work beginning Sunday, Sept. 17. The $25 million maintenance project is estimated to be completed by mid-2024 and will require several extended directional closures. Repaving work will be done in phases and scheduled during weekday nighttime hours to limit impacts to motorists.

Pavement work on the Loma Ridge segment will commence on southbound 241 Toll Road with weekly nighttime closures for several weeks. Crews will then shift to the northbound 241 Toll Road for additional paving operations in mid-October. Following completion of work at Loma Ridge, crews will mobilize at the Windy Ridge segment in spring 2024.

Learn more about the project (PDF).


Additional Channelizers Installed on 241 Toll Road/91 Freeway Connector

Channelizer ProjectTCA, in coordination with the California Department of Transportation (Caltrans), completed the installation of approximately 80 new channelizers on the northbound 241 Toll Road connector to the 91 Freeway to enhance safety for drivers in the area.

Additional channelizers were installed based on TCA, CHP and the public’s observations of queue-jumping at the dirt median between the eastbound and westbound 91 Freeway connector ramps.

View the press release.