The OCTA Board approved the Measure M Next 10 Delivery Plan on November 14, 2016. This comprehensive plan was developed to ensure the promises made in the Measure M2 Investment Plan can continue to be delivered despite changing economic and revenue shortfall impacts. The Next 10 Plan takes into account current cash flow forecasts, project information and schedules, and outlines 10 key milestones to be delivered in the next 10 years.
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, sales tax revenue has dropped by $10.1 billion and is now projected at only $14.2 billion.
While this reduction in sales tax revenue affects the M2 Investment Plan as a whole, many programs can be scaled based on available revenues. However, this is not possible for the freeway program because there are specific scopes of work and projects that must be completed within certain budgets.
Without a funding fix, the programs within Measure M2 could not be delivered as promised to the voters. The adopted Next 10 Plan addresses this funding gap by:
- Continuing to secure state and federal grants whenever possible
- Utilizing net excess 91 Express Lanes revenue for eligible projects
The Next 10 Plan is intended to ensure balanced program delivery of all modes and provides mobility solutions sooner to Orange County residents. For more information please visit octa.net/Next10.