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Issuer Type: Transportation/Toll Road
M2 Sales Tax Revenue Bonds
Toll Road Revenue
On behalf of the Orange County Transportation Authority, I would like to welcome you to our investor relations website. We appreciate your interest and investment in bonds issued by the Authority, as it allows us to make critical investments in public infrastructure throughout Orange County. We are committed to maintaining our strong bond ratings, and we are also committed to being as transparent as possible with the investor community and public at large.
I hope you find this website useful as you seek to better understand the credit fundamentals of the Authority. Thank you for your interest in OCTA.
Andrew Oftelie, Chief Financial Officer
Freeway improvements on 1-mile stretch between Orangewood and Katella avenues build on previous widening through important stretch of SR-57
ORANGE – The Orange County Transportation Authority, in partnership with Caltrans, is moving forward on a project to improve northbound State Route 57 in a critical part of the central Orange County freeway network.
The OCTA board earlier this week approved a plan to enter into a cooperative agreement with Caltrans and to release of request for proposals to find a qualified consultant to prepare plans, estimates and specifications.
The SR-57 Northbound Improvement project will extend a fifth regular freeway lane along a 1-mile stretch of the northbound freeway between Orangewood and Katella avenues, at the border of Anaheim and Orange.
“This important Measure M project builds upon investments OCTA has already made to enhance the 57 freeway,” said OCTA Chairman Andrew Do, also the county’s First District Supervisor. “Once it is complete, commuters and truck traffic will enjoy more efficient and consistent trips through central Orange County.”
In recent years, OCTA worked with Caltrans on additional improvements through the area, including widening the 57 freeway and improving on- and off-ramps between Anaheim and Brea.
The 57 freeway serves as a vital north/south link in the central part of the county for commuters and commercial truck traffic.
The ramps in that area are used by drivers to reach important entertainment destinations, including Angel Stadium, Honda Center and Disneyland Resorts, as well as the Anaheim Regional Transportation Intermodal Center (ARTIC).
One of the unique engineering challenges of the project is widening the ramp above the existing rail tracks used by Metrolink and Pacific Surfliner trains. Plans call for making the improvements while not affecting rail traffic.
OCTA and Caltrans worked with the cities of Anaheim and Orange to complete the environmental review process in 2019.
The project, estimated to cost approximately $50 million, is scheduled to break ground in 2025 and be completed in 2027.
For more information, visit www.octa.net/57fwy.
The first phase of a study to address the long-term needs of South Orange County is complete and was reviewed by the OCTA Board; work on the study, with ongoing public input, will continue through 2021
ORANGE – The Orange County Transportation Authority board this week reviewed the results of the first phase of an ongoing study to address south Orange County’s transportation needs as the area continues to grow with new residents and jobs and as travel patterns and needs evolve.
The study, called the South Orange County Multimodal Transportation Study, is looking at a wide range of transportation needs and solutions over the next 25 years, including improvements to streets, bus and other transit options, highways and bikeways.
The area covered by the study encompasses about 40 percent of Orange County, generally south of State Route 55 to the San Diego County line, and from the coast to the foothills.
“Fundamental to our role at OCTA is our work with the public to understand transportation needs throughout the county,” said Chairman Andrew Do, also Orange County’s First District Supervisor. “With its focus on population and job growth patterns unique to South County, this study will give us valuable insights to help shape a future in which residents and businesses continue to thrive.”
During the first phase of the study conducted in fall 2020, the OCTA team engaged with residents and stakeholders and completed a survey in multiple languages, including English, Spanish, Vietnamese, Korean and Mandarin.
Among the survey findings, the respondents said that they would like to see:
The survey also indicated that, in addition to improving and maintaining freeways and streets, those who responded recognize the need to address transportation challenges and want to see an increase in alternative transportation frequency and accessibility.
OCTA, which is Orange County’s transportation planning agency, is responsible for providing a balanced and sustainable transportation system for the entire county. The focus on south Orange County is necessary because over the next 25 years, projections show population growing by 170,000 residents and an additional 130,000 jobs are expected.
At the same time, travel patterns and transportation needs have continued to evolve since OCTA’s last major transportation study of the area in 2008. The projects from that study have resulted in more than a $1.5 billion investment in the area, including OCTA’s I-5 carpool lane project between San Juan Creek Road and Avenida Pico, and OCTA’s I-5 widening between SR-73 and El Toro Road now under construction.
Since the 2008 study, other significant changes have occurred, including a near-term strategy to improve traffic agreed to by OCTA, the Transportation Corridor Agencies (TCA), and Caltrans. That strategy includes:
Other changes have included introduction of mobile transportation apps and on-demand services such as Uber and Lyft, as well as the introduction of community transit options like shuttles and trolleys.
The South County study continues into the second of three phases, scheduled through the end of 2021. Residents, business owners and other key stakeholders will be asked to participate throughout in order to develop community consensus on transportation solutions that should move forward for further development.
For more information, visit: www.octa.net/southocstudy. Click on the “stay connected” tab to sign up for updates.
The first half of the Westminster Boulevard bridge opened on Jan. 28, first half of Fairview Road scheduled to open Feb. 12
ORANGE – The I-405 Improvement Project is reaching the first of many milestones scheduled to be met in 2021, with the opening of the first halves of the Westminster Boulevard and Fairview Road bridges.
The first half of the new Westminster Boulevard bridge in Westminster opened to traffic on Thursday, Jan. 28, and the first half of the Fairview Road bridge in Costa Mesa is expected to open on Friday, Feb. 12. The two bridges are among 18 to be built, widened or replaced as part of the project, which aims to speed up travel times on I-405 between Costa Mesa and the Los Angeles County line.
Both Westminster Boulevard and Fairview Road are being demolished and reconstructed in two stages, one half at a time, allowing them to remain open to traffic in both directions during construction.
Demolition of the second half of the bridges will require overnight closures of I-405. The freeway near Westminster Boulevard is scheduled to close overnight on Saturday, Feb. 6. Closures near Fairview Road are scheduled for Saturday, Feb. 20, and again on Saturday, Feb. 27.
Construction of the I-405 Improvement Project will continue in full swing throughout 2021. Half of the 18 bridges being rebuilt as part of the project are anticipated to be completed by the end of the year.
The Talbert Avenue and Magnolia Street bridges, along with the first half of the Bolsa Avenue bridge, are expected to open in the first half of 2021. Later in the year, the Heil Avenue pedestrian overcrossing, along with the Edwards Street, Bolsa Chica Road and Goldenwest Street bridges are scheduled to open.
For the latest construction schedule, as well as closure and detour information, visit the project’s interactive map at octa.net/405map or download the free 405 Improvement mobile app in the App Store or in Google Play.
The I-405 Improvement Project, now more than halfway complete, 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.
This 16-mile segment of I-405 is one of the most heavily traveled stretches of highway in the nation, and drivers routinely face severe congestion in both the regular lanes and carpool lanes. The project is critical to accommodate expected employment, population and housing growth throughout the region.
The speed limit on I-405 has been reduced to 55 mph between SR-73 and I-605 for the safety of drivers and construction crews for the duration of the project, which is expected to be completed in 2023. Drivers are advised to slow down and proceed with caution whenever signs of highway work are present, and drivers whose vehicles become disabled should pull off at the nearest exit, if possible.
For more information about the I-405 Improvement Project, visit octa.net/405improvement.