By: OC Supervisor Lisa Bartlett
The Boards of Directors of the San Joaquin Hills (SJHCTA) and Foothill/Eastern (F/ETCA) Transportation Corridor Agencies approved Fiscal Year 2016 (FY16) budgets totaling $285.3 million; comprised of $124.3 million for the SJHTCA and $161 million for the F/ETCA.
Both agencies are on solid financial ground after refinancing nearly $4 billion of bonds issued to build the 73, 133, 241 and 261 Toll Roads. By restructuring the agencies’ debt profile, the Transportation Corridor Agencies (TCA) improved its credit ratings, created future flexibility for capital improvement projects and restored toll setting authority to the Boards of Directors.
FY16 initiatives include: Continue reading