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06 June 4, 2010 Riverside Orange Corridor AuthorityAGENDA Riverside Orange Corridor Authority (ROCA) Meeting Committee Members Karen Spiegel, Chairman Carolyn Cavecche, Vice Chairman Steve Adams Jerry Amante Bill Campbell Richard Dixon Peter Herzog John Tavaglione Cindy Quon Ray W. Wolfe City of Corona - City Hall City Council Chambers - First Floor 400 South Vicentia Avenue Corona, California Friday, June 4, 2010, at 10:00 a.m. Any person with a disability who requires a modification or accommodation in order to participate in this meeting should contact the OCTA Clerk of the Board, telephone (714) 560-5676, no less than two (2) business days prior to this meeting to enable OCTA to make reasonable arrangements to assure accessibility to this meeting. Agenda descriptions are intended to give members of the public a general summary of items of business to be transacted or discussed. The posting of the recommended actions does not indicate what action will be taken. The Committee may take any action which it deems to be appropriate on the agenda item and is not limited in any way by the notice of the recommended action. All documents relative to the items referenced in this agenda are available for public inspection at www.octa.net or through the Clerk of the Board’s office at the OCTA Headquarters, 600 South Main Street, Orange, California. Call to Order Pledge of Allegiance Member Amante 1.Public Comments Special Calendar There are no Special Calendar matters. Page 1 of 3 COMM-ROCA-00001 AGENDA Riverside Orange Corridor Authority (ROCA) Meeting Consent Calendar (Item 2) All items on the Consent Calendar are to be approved in one motion unless a Committee Member or a member of the public requests separate action or discussion on a specific item. 2. Approval of Minutes Of the January 22, 2010, Riverside Orange Corridor Authority Committee meeting. Regular Calendar 3. Irvine Corona Expressway High-Level Financial Feasibility Analysis Tamara Warren, Project Manager of Corridor Studies, Orange County Transportation Authority Cathy Bechtel, Project Development Director, Riverside County Transportation Commission Overview At the request of the Riverside Orange Corridor Authority Committee, staff from the Orange County Transportation Authority and the Riverside County Transportation Commission worked with financial advisors to determine the financial feasibility of constructing and operating the Irvine Corona Expressway tunnel project. Using the assumptions provided in the Irvine Corona Expressway feasibility study, information was developed on the debt financing requirements needed and potential toll revenue anticipated to fund and operate the tunnel project. The results of the high-level financial feasibility analysis are provided for the Riverside Orange Corridor Authority Committee’s review and consideration for informed decisions on next steps. Recommendations A. Direct staff to defer the Irvine Corona Expressway tunnel project until such time as the financial considerations improve and/or technological advancements warrant re-examination. B. Direct staff to suspend the ground water monitoring program. C. Direct staff to assess the eligible uses for remaining funds available from the federal grant and return to the Riverside Orange Corridor Authority Committee at the next meeting with recommendations. Page 2 of 3 AGENDA Riverside Orange Corridor Authority (ROCA) Meeting Discussion Items 4. ROCA Members' Reports 5. Closed Session There is no Closed Session scheduled. 6. Adjournment The next regularly scheduled meeting of the ROCA will be held at 10:00 a.m. on Friday, July 30, 2010, at the Orange County Transportation Authority Headquarters, 600 South Main Street, First Floor – Board Room, Orange, California. Page 3 of 3