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Extraído del Informe Consolidado
Esta investigación fue publicada originalmente como parte de un informe consolidado más amplio que contiene múltiples investigaciones. Consulte el PDF consolidado para ver el documento completo.
Orange County Grand Jury
• 2020-2021
$28 Billion for a $2.8 Billion Road Total DIFs Paid by the Jurisdictions
⚠️ Aviso de traducción: Este contenido ha sido traducido automáticamente. El texto original en inglés es la versión oficial. La traducción puede contener errores.
⚠️ Este contenido ha sido traducido automáticamente. El texto original en inglés es la versión oficial. La traducción puede contener errores.
Findings and Recommendations 6 findings
F1
Page 165
When the TCA completes the 91 Express Connector, its major necessary construction work will be finished.
Related Recommendations (1)
R1
Page 165
The Grand Jury recommends the TCA develop and implement a written plan to pay off all debt by 2040, the original maturity date of the initial debt offering. The written plan should be completed by December 31, 2021 with annual written updates on December 31 of each successive year. This allows for completion of the 91 Express Connector and other projects currently in planning. This will result in debt service savings of approximately $1 billion. (F1, F2)
F2
Page 165
By focusing on bond payoff, the TCA could retire its debt by 2037.
Related Recommendations (1)
R1
Page 165
The Grand Jury recommends the TCA develop and implement a written plan to pay off all debt by 2040, the original maturity date of the initial debt offering. The written plan should be completed by December 31, 2021 with annual written updates on December 31 of each successive year. This allows for completion of the 91 Express Connector and other projects currently in planning. This will result in debt service savings of approximately $1 billion. (F1, F2)
F3
Page 165
Based on the TCA's current debt repayment plan, the total cost of the toll roads will amount to $28 billion by 2053.
No recommendations for this finding
F4
Page 165
The TCA can cover its debt obligations without the use of Development Impact Fees.
Related Recommendations (1)
R2
Page 165
The Grand Jury recommends the TCA eliminate DIFs once the debt is paid off. Until that time, the DIFs should be used exclusively for the payoff of debt. (F4)
F5
Page 165
Even when the TCA's debt is retired, the roads will likely not become toll-free.
No recommendations for this finding
F6
Page 165
Maintaining two agencies creates cost inefficiencies and extends the amount of time required by SJHTCA to pay off its debt.
Related Recommendations (1)
R3
Page 165
The Grand Jury recommends the TCA research the possibility of merging the two agencies and develop a written plan of action by December 31, 2021. Merging allows for the elimination of any cost redundancies present in the two agencies. It also allows SJHTCA to pay off its debt at the same time as F/ETCA. (F6) Report 5 N11046 20-21 Grand Jury Gut Section Final-R1.indd 164 N11046 20-21 Grand Jury Gut Section Final-R1.indd 164 6/23/21 3:31 PM 6/23/21 3:31 PM $28 Billion for a $2.8 Billion Road 2020-2021 Orange County Grand Jury