The latest OC Grand Jury report is out, and it finds TCA pitted against tax payers. TCA's Board Members have no respect for you or future generations. To them we are merely a funding source, to be milked at will. Is the epitome of wasteful, self serving, self perpetuating bureaucracy.
"Local control" of Orange County's transportation is redundant. TCA is one of four local agencies-- OC Public Works, OC Transportation Authority, Caltrans-- involved in transportation planning.
Yet this latest Grand Jury report finds:
The TCA’s propensity to re-define its own scope and ingratiate itself onto area roadways is going to keep growing in proportion to its surplus funds.
The GJ report further states,
This is no way to manage the County’s transportation planning.
TCA's “Strategic Vision” in the February 11, 2021 Board Meeting leaves no doubt about the agency’s intentions.
It proposes to create an “Infrastructure Bank” that would loan or contribute funds to area projects. The stated justification is that the projects would somehow benefit the toll roads.
The TCA anticipates so much excess cash from toll collections that it needs a mechanism for funding other agencies that manage surrounding roads.
If toll collection continues indefinitely and rates continue to rise at the current pace, the roads will generate tens of billions of dollars for the TCA and its bondholders.
Nowhere in this decision process is the toll-paying driver represented.
Among their findings the Grand Jury concluded:
* By focusing on bond payoff, the TCA could retire its debt by 2037. Yet they refuse that focus.
* Based on the TCA's current debt repayment plan, the total cost of the toll roads will amount to $28 billion by 2053. Ten times the value of the roads.
* The TCA can cover its debt obligations without the use of Development Impact Fees. Yet they continue to levy them.
Sadly, the Grand Jury states,
Even when the TCA's debt is retired, the roads will likely not become toll-free.
The finest legacy we can leave our children is to abolish of TCA.