More results found.
No results match your search term, but we're constantly adding new issuers to the BondLink platform. Looking to learn more?
Learn about Orange County Transportation Authority, including Featured News, Key Projects, The Team, and Bond Programs.
The Government Finance Officers Association of the United State and Canada recognizes OCTA for comprehensive report in ‘spirit of full disclosure’
ORANGE – The Orange County Transportation Authority was recently recognized by the leading association of government finance professionals for excellence and transparency in financial reporting.
The Government Finance Officers Association of the United States and Canada this month awarded OCTA the Certificate of Achievement for Excellence in Financial Reporting for its Comprehensive Annual Financial Report for the fiscal year that ended in June 2019.
OCTA has received the high honor each year since it was founded in 1991.
The Certificate of Achievement is the association’s highest recognition for government accounting and financial reporting. It is judged by an impartial panel of experts from the association who review the report for its ability to clearly communicate the agency’s financial story and for a “spirit of full disclosure.”
“OCTA prides itself on being transparent with the taxpayers of Orange County and this award is another clear indication that we are achieving that goal,” said OCTA Chairman Steve Jones, also the Mayor of Garden Grove. “Through the tremendous work of our staff and Board, we will continue to fulfill our responsibility to wisely and efficiently use the funds entrusted to OCTA to improve our transportation system and, ultimately, our residents’ quality of life.”
OCTA has an annual budget of $1.4 billion, approved by a 17-member Board of Directors each year after a budget workshop, numerous updates in public committee meetings and the board’s annual public hearing.
An independent,11-member Taxpayer Oversight Committee also holds an annual compliance hearing to ensure that funds from Measure M, the county’s half-cent sales tax for transportation improvements, are being administered in accordance with the ordinances that were first approved by voters in 1990 and overwhelmingly renewed for 30 years in 2006. The Taxpayer Oversight Committee has determined for 29 consecutive years that Measure M is being delivered to voters as promised.
The Taxpayer Oversight Committee has determined for 29 consecutive years that Measure M is being delivered to voters as promised.
Amidst the uncertainty of the coronavirus (COVID-19) pandemic impacts, OCTA continues to provide frequent financial updates to the Board of Directors for utmost transparency and accountability.
Local Measure M sales tax funds will help improve shelters, other amenities at 35 bus stops
ORANGE – The OCTA Board of Directors this week approved more than $1 million to make improvements to 35 of the county’s busiest bus stops in the city of Santa Ana, helping provide newer, more comfortable shelter for passengers waiting to ride OC Bus.
The funds are provided through Measure M, the county’s half-cent sales tax for transportation, also known as OC Go. The measure, renewed by voters in 2006, includes funding to help provide improved transit amenities at the county’s busiest bus stops.
This week’s award of funding for bus-stop improvements is part of OCTA’s ongoing investment in communities where there is the greatest demand for public transit. Santa Ana, which has some of the county’s most heavily used bus routes, applied for the competitive funds and will work with OCTA to implement the upgrades.
“A big part of our mission is provide our bus passengers with a safe and enjoyable experience that encourages them to ride public transit, and these local sales tax funds will help significantly enhance the experience for OC Bus riders,” said OCTA Chairman Steve Jones, also the Mayor of Garden Grove.
Funds will be used to make improvements at 35 of Santa Ana’s bus stops, including several popular routes along Bristol Street, 17th Street and Harbor Boulevard, among many other locations throughout the city.
The improvements include replacing existing shelters (from rain and sun), benches, trash receptacles, advertising cases and making necessary improvements to concrete at the stops.
While bus stops throughout the county are located on city property and maintained by individual cities, OCTA works in partnership with those cities to determine the best locations for stops and provides competitive funding for improvements.
To date, the OCTA board has approved more than $3.1 million for similar bus-stop improvements throughout Orange County.
The agency has shifted to virtual meetings and other technology to update residents living near its various construction projects
ORANGE – While millions of Californians heeded state orders to stay home to help stop the spread of coronavirus (COVID-19), construction on public transportation projects continued, leaving the Orange County Transportation Authority to answer the question: What’s the best way to communicate construction updates to the thousands of residents living near its projects?
On the I-405 Improvement Project, the largest highway project under construction in the state, the COVID-19 pandemic forced OCTA to think creatively about how to best reach the diverse communities along the 16-mile stretch of project while ensuring the health and safety of employees and the public.
Traditional communication methods, including hosting information booths at community events, hosting in-person neighborhood meetings and canvassing fliers to residents’ homes, was no longer a viable option. But OCTA wanted to do more than relying on the project’s website, mobile app and social media presence to keep residents living in nine different cities throughout the project area informed.
Less than a week after the state issued its stay-at-home order in March, the I-405 Improvement Project hosted its first ever virtual neighborhood meeting to update residents living near major upcoming construction. The meeting was similar to the dozens that had been previously held, except instead of being at a community park, school or meeting room, residents were able to have their questions answered from the comfort and safety of their own home.
Since then, the project team has hosted nine additional virtual community meetings, directly communicating with nearly 450 people live. The meetings are all recorded and available online and have generated more than 2,000 views.
I-5 South Team Goes Virtual
The outreach team focused on improvements being made to I-5 between El Toro Road and SR-73 in South Orange County also converted its typical approach of chatting with residents over donuts in local neighborhood parks. Instead, they also quickly set up virtual meetings.
At first, they held a virtual meeting and discussed the entire 6-mile project, but quickly discovered it was a bit too much information for many residents who wanted detailed information about the freeway bridge near their house or whether there’d be a sound wall in their neighborhood.
So, they switched to “Webinar Wednesdays” that focused on smaller segments of the project.
And the I-5 South team looked to see how TV entertainment shows engaged viewers while going online. Using that example, rather than having just one presenter talk to the camera, they decided to have two presenters from the project team interacting.
One acts as the host for the meeting, welcoming the audience and explaining how it will work, then allows the other to present the information. The host asks follow-up questions and sometimes even jumps in to ask for clarification that the audience might want to know.
The I-5 South project team also focused on branding by always wearing button-up shirts that prominently featured the project logo when on camera. Otherwise, they limited branding, keeping it informal and presenting from their homes, with books, photos and artwork in the background.
The approach intended to send a message: Thank you for letting us come into your homes (virtually) for the presentation – from our homes to yours.
The team found that the team approach from home led to more engagement and more informal questions from viewers – as if they were still just chatting over donuts.
When completed in 2025, the I-5 South project will add a regular lane in each direction of the freeway, extend a second carpool lane, widen bridges and make other improvements to ease traffic congestion for approximately 360,000 drivers who use that part of the freeway daily.
Technology Helping Find the Right Audience
In addition to the virtual events, OCTA began using geofencing campaigns to target hundreds of thousands of residents and commuters that live and drive through specific areas of the I-405 Improvement Project.
This method of advertising allows OCTA to select a 1-mile radius near major construction work. If someone enters that zone with their smartphone, laptop or tablet, they will begin seeing construction alerts on their favorite apps, including ones like Waze or Pandora.
To date, the project team has completed six of these advertising campaigns, reaching nearly 700,000 people.
Moving forward, as restrictions continue to ease, OCTA will continue to build on the success of these virtual outreach efforts as a convenient way to keep the community up to date on its many projects and programs.
The $1.9 billion I-405 Improvement Project will add one regular lane in each direction between Euclid Street and I-605, and a second lane in each direction in the center of the freeway from SR-73 to I-605 that will combine with the existing carpool lanes to form the 405 Express Lanes.
OCTA in cooperation with The California Department of Transportation (Caltrans) is widening the San Diego Freeway (I-405) between State Route 73 (SR-73) and Interstate 605 (I-605).The project will improve 16 miles of I-405 between the SR-73 freeway in Costa Mesa and I-605 near the L.A. County line. The project includes adding one regular lane in each direction between Euclid Street and I-605 and making improvements to freeway entrances, exits and bridges. In addition, the project will add the 405 Express Lanes, incorporating the existing carpool lanes and a new lane in each direction between SR-73 and I-605. The 405 Express Lanes will give solo drivers the choice to speed up their commute for a toll and give options for carpoolers to use the lanes for free. When the express lanes open, two-person carpools will pay a toll only during peak hours and carpools of three or more will be free at all times.
The general purpose lane portion of the project is an OCGO, formally Measure M (Orange County's half-cent transportation sales tax), project and will be funded by a combination of local, state and federal funds, with the express lanes portion of the project financed and primarily paid for by those who choose to pay a toll and use the 405 Express Lanes.
Because of the high demand for the I-405 and the need to stay within the existing right of way, the project cannot provide enough additional lanes to eliminate congestion. The 405 Express Lanes, however, will provide a fast, stress-free travel option. Because the amount of traffic in the 405 Express lanes will be optimized by raising and lowering tolls in response to traffic demand, the 405 Express Lanes will be more predictable and move more vehicles per lane during peak periods than the regular, general purpose lanes. Solo drivers in the 405 Express Lanes will pay the full toll and carpools are anticipated to be offered discounts or free travel. The toll policy has not been finalized yet but it will be designed to provide customers with a safe, reliable, congestion-free commute. The 405 Express lanes will offer people a choice to travel faster when they absolutely need to.
In 2040, it's expected to take 29 minutes to travel during rush hour from SR-73 to I-605 in the general purpose lanes after improvements to the I-405 are complete. That commute can be reduced to 13 minutes if a driver chooses to take the 405 Express Lanes.
The new parking structure will blend into the historic architectural design of the area and incorporate modern features like solar panels and electric car charging ports to contribute to the building’s energy efficiency. Some key design elements include:
611 New Parking Spaces
This 5-story structure will have 2 subterranean levels and a total of 611 parking spaces. The increase of parking spaces will improve accessibility for Metrolink riders and motorists visiting Old Towne Orange.
Electric Car Charging Ports
Several dedicated parking spaces will feature electric car charging ports, allowing for eco-friendly vehicles to plug in and recharge.
The building and plaza areas will reflect the historic character and scale of Old Towne Orange to blend into the architectural design of the historic district. The design was developed with extensive input from the community.
Solar panels will be placed on the facility’s roof, thereby providing reduced energy costs for lighting, mechanical and ventilation systems.
Bike Racks and Lockers
This newly added feature will encourage active transportation by providing commuters peace of mind knowing there is a secure place to store their bicycles.
Environmental: December 2009 – May 2016
Design: November 2010 – April 2016
Construction: July 2017 – Early 2019
To complement Orange County’s Metrolink service, passengers need a way to get to their final destination after getting off a train. Through Transit Extensions to Metrolink, a Measure M program (now called OC Go) intended to broaden the reach of Orange County’s backbone rail system to key employment, population, and activity centers, the cities of Santa Ana and Garden Grove developed a fixed guideway project that would address this need.
After evaluating many alternatives and extensive outreach, a streetcar was chosen as the preferred alternative. Expected to begin operations in 2021, the OC Streetcar will link the bustling Santa Ana Regional Transportation Center (SARTC), which provides regional rail, OCTA bus, and intercity and international bus services, to a new multimodal hub at Harbor Boulevard/Westminster Avenue in Garden Grove. Along the way, OC Streetcar will connect directly with 18 OCTA bus routes. OC Streetcar will serve the historic downtown Santa Ana and Civic Center which includes government offices, federal, state and local courthouses, unique restaurants and shops, an artists’ village, several schools and a variety of community enrichment organizations.
OC Streetcar will increase transportation options and provide greater access along its 4.15-mile route (in each direction) along Santa Ana Boulevard, 4th Street, and the Pacific Electric right-of-way to Harbor Boulevard in Garden Grove.
Orange County’s population is expected to increase 13 percent by 2035, and that means more drivers on our roadways. To ease growing traffic demands, OCTA, the California Department of Transportation (Caltrans), the County of Orange and all 34 cities are working together to coordinate traffic lights across the county.
Traffic signal synchronization allows a series of lights to turn green in advance of arriving traffic based on synchronized timers set to current traffic conditions and congestion levels.
OCTA improves traffic flow by coordinating traffic lights across city boundaries. Most signal timing projects result in a 5 to 15 percent improvement in travel time and speed, reducing travel times, stops and delays.
The 91 Express Lanes was born from the need for congestion relief on SR-91 when no public funds were available to solve this critical transportation problem. Built by the California Private Transportation Company (CPTC), the 91 Express Lanes embodied a unique concept: The private sector would take the risk and the state would get congestion relief at no cost to taxpayers.
Built at a cost of $135 million, the Orange County section of the project was authorized as a toll road by the State of California in 1989 and opened in 1995. An agreement with the State of California Department of Transportation (Caltrans) included a non-compete provision that created a 1.5-mile protection zone along each side of SR-91. This zone prohibited improvements along the corridor and created mobility problems as the region and corresponding transportation demands grew.
To mitigate growing concerns over congestion, the Orange County Transportation Authority (OCTA) acquired the 91 Express Lanes franchise rights in January 2003. This eliminated the non-compete provision, clearing the way for future enhancements that will increase capacity and improve traffic flow along the SR-91 corridor.
In 2008, the Riverside County Transportation Commission (RCTC) received authority to extend the Express Lanes to I-15. Traffic congestion on eastbound SR-91 between Anaheim and Corona is routinely among the worst five areas in the nation. At a cost of $1.4 billion, the RCTC 91 Corridor Improvement Project added regular lanes, tolled express lanes, auxiliary lanes and direct express lane connectors from the northbound I-15 to the westbound SR-91 and from the eastbound SR-91 to the southbound I-15. Improvements to interchanges, ramps and surface streets were also made along the 91 corridor.
The Riverside section of the 91 Express Lanes opened in 2017, providing customers with 8 additional miles of travel time certainty.
To provide 91 Express Lanes customers with excellent customer service, OCTA and RCTC entered into an agreement with the current 91 Express Lanes operator to service both segments of the Express Lanes.
The 91 Express Lanes 2013 Bonds were issued to refund the Series 2003 Bonds, which were originally issued to finance the acquisition of the 91 Express Lanes for the design, construction and installation of the toll road. The current bonds outstanding are the Series 2013 Bonds and no future debt plans are anticipated at this time.
Bond Ratings: A1/AA/A+
Final Maturity: 2030
Debt Outstanding as of 12/31/2019: $91,865,000
On November 7, 2006, the voters of Orange County chose to extend the Measure M1 half cent sales tax for another 30 years from 2011 through 2041. Measure M2 (M2), administered by the Orange County Transportation Authority (OCTA), will generate billions of dollars to improve transportation in Orange County. M2 is designed to reduce traffic congestion and enhance overall mobility. Improvements in the plan include improving key freeways, upgrading major interchanges, and adding capacity and maintaining streets and roads. M2 allocates 43 percent of funds to freeway projects, 32 percent to streets and roads, and 25 percent to transit projects.
When the M2 Investment Plan was initially developed, forecasts projected M2 sales tax revenue available for projects and programs at $24.3 billion. Since the Great Recession in 2008, projected sales tax revenue has dropped by $10.8 billion and is now projected at $13.1 billion.
On November 13, 2017, the Updated Next 10 Plan was approved by the Board, reflecting new cash flows, schedule, and project information. This comprehensive plan sets priorities and funding commitments over a ten-year period (2017-2026) to ensure that promises made in the M2 Investment Plan can continue to be delivered despite changing economic and revenue shortfall impacts. While the Updated Next 10 Plan considers current cash flow forecasts, project information and schedules, the deliverables remain largely unchanged.
The largest component of the overall M2 Program is the Freeway Program. It receives 43 percent of the net sales tax revenue. In the approved Updated Next 10 Plan, $4.3 billion in freeway projects are scheduled to be delivered. The I-405 Improvement Project, which at $1.9 billion in estimated cost, will be the largest capital project that OCTA has delivered in its history. This project, slated to open in 2023, is concurrently under final design and construction.
OCTA issues Sales Tax Revenue bonds to provide funds for certain transportation projects, such as the upcoming Series 2019 Bonds issuance for the funding of the general purpose lanes for the I-405 Improvement Project. The current bonds outstanding are the Series 2010 A and B Bonds. OCTA is planning to issue ~$400 million of Sales Tax Revenue bonds in February 2019.
Final Maturity: 2041
Bond Ratings: Aa2/AA+/AA+
Debt Outstanding as of 12/31/2019: $635,220,000