The ambitious $2.3 billion refinancing of the Foothill Eastern TCA in Orange County California has gotten BBB-, Outlook Stable ratings from both Fitch Rating and Standard and Poors. The news was greeted as promising by officials of the tollroad, who say it allows them to move ahead at favorable interest rates and other terms.
The boards of directors of The Toll Roads in Orange County California this week approved budgets for the 2014 fiscal year that provide $12.2m for conversion to all-electronic toll collection. Cash toll collection will cease and the combination of highway speed transponder tolls (FasTrak) and license plate imaging should be in place by the summer of 2014.
The Toll Roads say in a statement today that current cash customers will be given a choice of several new payment methods and account types from early 2014.
The budgets also provide for:
The Transportation Corridors Agencies (TCA) which run the San Joaquin Hills and Foothill and Eastern tollroads in Orange County California have chosen Neil Peterson as their new chief executive officer. He comes from CH2MHill where he was a a transportation strategy consultant, and before that Booz Allen & Hamilton. He was founding CEO of the car sharing firm Flexcar, renamed Zipcar now part of Avis.
Other positions he has held:
Orange County Calif tollroads slammed as financially mismanaged with unsustainable debt by Governor's former finance director
A study on the 241 and 73 tollroads in Orange County says that they have unsustainable debt and accuses the Transportation Corridors Agencies of a long record of financial mismanagement.
Tom Margro chief executive of the Transportation Corridors Agencies (TCA) is retiring at the end of the month. He's 68 and has "health issues," TCA says.
Margro joined TCA in 2007 after some years as chief executive of the Bay Area Rapid Transit rail network.
Corridor Agencies in Orange Co Calif going all-electronic by Fall 2013 at estd $14m cost, new zonal tolling
2012-07-17: The Transportation Corridor Agencies (TCA) of Orange County California - the southern portion of the Los Angeles metro area - are planning to have all-electronic toll (AET) collection in full operation by the summer/fall of 2013.
Traffic and revenue forecasts for The Toll Roads of Orange County CA - a history in charts (CORRECTED)
2012-05-15: There are now fifteen years of forecasts versus actuality for the Transportation Corridors Agencies (TCAs) of Orange County California - who have branded their roads simply 'The Toll Roads'- nice and simple, if rather presumptuous. The TCAs present annual results going back to 1997.
2012-05-11: You can now make use of a mobile phone app to manage a Transportation Corridors Agencies (TCA) toll account from an iPhone or an Android. The 'app' downloadable from The Toll Roads (TCA) website also works on tablets like the iPad. A press release says it is the first of its kind in the US and allows customers to do everything wirelessly - on their mobile phone - that they can do via logging in to their account at the website.
Completion of the blocked 241 tollroad of Orange County California looks just a little closer following an okay from the City of San Juan Capistrano in the path of the planned final leg to I-5.
With the San Joaquin Hills (CA73) under financial pressure, bondholders have agreed to terms that stretch out the bonds life by six years from 2036 to 2042, reduce required debt coverage, and lower annual debt service payments for the next 12 years. The SHJ73 tollroad that parallels I-405 and I-5 in Orange County south of Los Angeles has never had the traffic or revenue projected for it when financed in the early 1990s.