2024 Highlights
Over the past year, TCA has strived to implement programs that drive the region towards a better tomorrow.
TCA planned, financed, constructed and now operate The Toll Roads, State Routes 73, 133, 241 and 261 in Orange County, California. In 2024, TCA continued to carry out our mission and vision by improving regional mobility and enhancing quality of life.
As we drive into the new year, we look back at some of our most notable achievements.
F/ETCA Early Bond Paydown
As part of TCA’s early bond paydown program, The Foothill/Eastern Transportation Corridor Agency (F/ETCA), operators of the 133, 241 and 261 Toll Roads, accomplished an early bond paydown of $60 million. The bonds were paid off with cash reserves and the agency saved approximately $54 million in interest payments.
TCA Welcomes New CFO
In February, TCA announced the appointment of Howard Mallen as Chief Financial Officer (CFO). He has made significant contributions to TCA over the past 10 years. His sound fiscal practices and innovative ideas have helped provide a financially stable future for the Agencies.
Fitch Ratings Upgrades F/ETCA Bonds
In March, Fitch Ratings upgraded F/ETCA's bonds to A- for Senior Lien and BBB+ for Junior Lien, with a positive outlook.
Fitch’s decision to upgrade the agency’s credit rating underscores TCA’s financial strength and well-positioned fiscal policies that provide The Toll Roads with stability and strong operations.
Live Oak Plaza Cattle Grazing
At the March Board Meeting, TCA officially adopted cattle grazing as part of the adaptive week management program for our mitigation sites.
Then in April, the first cattle grazing began at Live Oak Plaza since the official adoption of the program. Cattle grazing improves and maintains the quality of biodiversity of natural areas and helps minimize wildfire risks.
Spring Tours
Spring Tours allow the public a once-a-year opportunity to explore the natural beauty of protected areas of Orange County on guided walks through the land set aside with the construction of The Toll Roads.
This year, we offered tours of Upper Chiquita Canyon near Coto de Caza in Rancho Santa Margarita and Bonita Creek in Newport Beach.
Award-Winning Year
This year, TCA earned three prestigious industry awards.
At the California Transportation Foundation Awards Gala, TCA earned two prestigious industry awards.
In the operational efficiency category, TCA’s customer service back-office solution received the award for the program that improves transportation operations through management solutions.
In the sustainable transportation/environmental enhancement category, the cattle grazing program received the award for the program that implements policies or improvements which enhance social, economic and/or environmental sustainability or improvements.
TCA was also recognized at the 14th Annual OC Taxpayer’s Roses, Radishes and the Royalty Award event with a Rose Award for the execution of TCA’s early bond paydown program.
The early paydown of bond debt exemplifies the commitment both Agencies have to fiscal stewardship, which is core to the Agencies’ past and future success.
Fiscal Year 2025 Capital Improvement Plan
he Fiscal Year 2025 (FY25) Capital Improvement Plan was adopted in April. The plan represents a nearly $550 million dollar investment from the agencies. CIP projects are cash funded from Agencies’ reserves.
The plan includes direction for delivery of three key capital projects, the 241/91 Express Connector, State Route 73 Catalina Improvements and State Route 241 Loma Improvements, by 2030 or earlier.
One-Way Interoperability
The Boards approved TCA staff to pursue implementation of a one-way interoperability concept in partnership with the Washington State Department of Transportation (WSDOT) and North Texas Tollway Authority (NTTA).
In November, the Boards approved an agreement with NTTA to implement one-way interoperability for The Toll Roads accountholders, taking the first step towards national interoperability. The agreement will allow FasTrak accountholders with TCA to use their transponders on NTTA’s system of five toll roads, two bridges and one tunnel when driving in Texas.
TCA will become the first tolling agency in California to establish interoperability beyond the state’s borders.
Boards Approve FY25 Budgets
The Boards of Directors approved FY25 budgets with expenditures totaling $315.1 million - $136.8 million for the San Joaquin Hills Transportation Corridor Agency (SJHTCA) and $178.3 million for F/ETCA - at the June board meeting.
The FY25 budgets reflect positive transaction and revenue trends while remaining conservative, maintain the Agencies' history of cost containment, incorporate FY25 activities from the Boards-approved Strategic Plan, are aligned with the Agencies' Debt Management Policies and meet the fiduciary responsibility to bondholders.
Fossils in Your Backyard
The Fossils in Your Backyard program provided in-class paleontology and archeology presentations for school-aged children Orange County. Students could touch and interact with fossils and replicas to learn what Orange County was like millions of years ago.
New San Bernardino Customer Service Walk-In Center Opens
TCA is leveraging our award-winning back-office system in a unique partnership with the San Bernardino County Transportation Authority. The partnership allows The Toll Roads to serve as the account and payment processing partner for the SB Express Lanes, creating significant cost savings for both agencies.
July marked the opening of The Toll Roads' San Bernardino Customer Service Walk-In Center in preparation of the SB Express Lanes on I-10. The Customer Service Center is located inside of the Rancho Cucamonga City Hall and can assist both SB Express Lanes and The Toll Roads customers.
Saddle Club Preservation Project Moves Forward
This year, the County of Orange approved the Saddle Club Preservation Project site use plan and development permit. The site use plan balances habitat conservation, wildlife movement and public recreational use, including hiking, biking and horseback riding.
FasTrak.org Relaunches with Enhanced User Experience
The California Toll Operators Committee (CTOC), a collaborative organization comprised of the state's toll facility operators which includes TCA, unveiled a redesigned website, FasTrak.org , to better serve the six million FasTrak accountholders, as well as the millions of toll facilities' customers throughout the state.
The modern design and content within FasTrak.org simplifies tolling in California, giving customers information they need to benefit from using FasTrak to pay tolls when traveling through the state.
Strategic Plan Updates
TCA’s Strategic Plan highlights the Agencies’ mission, values, goals, objectives, activities and seven areas of focus: fiscal management, environmental stewardship, customer service, tolling technology, communications & public engagement, capital project delivery and regional mobility partnerships.
The Boards of Directors approved updates to the FY25 Strategic Plan in September to incorporate changes in alignment with the Agencies’ goals, objectives and activities in the seven areas of focus.
Habitat Conservation Fund
The call for projects for the Habitat Conservation Fund began in October. The goal of the fund is to preserve and restore areas in Orange County through land acquisitions, habitat restoration projects and other environmentally beneficial projects.
TheTollRoads.com Redesign
In October, TCA launched a redesigned TheTollRoads.com website featuring an elevated user experience and information enhancements for the Agencies' valued drivers, stakeholders and community members.
Each month, TheTollRoads.com has over a million views from website visitors who access the site to get information about the roadways, calculate toll rates, view TCA projects and initiatives and learn more about toll payments and FasTrak® accounts with The Toll Roads.
