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About Transportation Corridor Agencies (The Toll Roads)Thirty years ago, through visionary leadership, Orange County made the decision to control its future through self-reliance. The County of Orange and 18 cities devised a plan to enhance the region and provide traffic relief for Orange Countys congested freeways. This vision was brought to life through the creation of the Transportation Corridor Agencies (TCA).
When TCA was formed in the 1980s, an exploding population in the region, worsening traffic congestion, and shrinking transportation funds were the reality. With fewer tax dollars available to fund transportation projects, a new approach was taken enabling TCA to plan, finance, construct and operate the 73, 133, 241, and 261 Toll Roads. Instead of government dollars, the roads were financed through non-recourse toll revenue bonds backed only by tolls and Development Impact Fees (DIFs).
The bonds can only be repaid by future tolls and development fees. Since the bonds are not backed by the government, taxpayers are not responsible for repaying the debt, nor do taxpayers carry the risk if future toll revenues fall short.
Tolls and development impact fee revenue go toward retiring the construction debt, funding additional improvements, and covering costs of operating The Toll Roads.