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08 August 27, 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 Orange County Transportation Authority Headquarters 600 South Main Street, First Floor - Room 154 Orange, California Friday, August 27, 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 ROCA Chair Spiegel Pledge of Allegiance ROCA Chair Spiegel 1.Public Comments Special Calendar There are no Special Calendar matters. Page 1 of 3 COMM-ROCA-00002 AGENDA Riverside Orange Corridor Authority (ROCA) Meeting Consent Calendar (Items 2 and 3) 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. 3. Approval of Minutes Of the June 4, 2010, Riverside Orange Corridor Authority Committee meeting. Regular Calendar 4. Irvine Corona Expressway High-Level Financial Feasibility Analysis Tamara Warren, Project Manager, 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. Page 2 of 3 AGENDA Riverside Orange Corridor Authority (ROCA) Meeting 4. (Continued) Recommendations A. Direct staff to defer the Irvine Corona Expressway tunnel project until such time as financial considerations improve and/or technological advancements warrant re-examination. B. Direct staff to revise the ground water monitoring program from its current form and develop an agreement with the United States National Forest Service to transfer the equipment and a one-time stipend of $200,000 to assist in its ground water monitoring efforts at the five corehole sites. C. Assign review and discussion of tunnel considerations to the State Route 91 Advisory Committee as part of its annual State Route 91 Implementation Plan Update. D. Direct staff to identify remaining funds available from the federal grant and bring a recommendation to the State Route 91 Advisory Committee on project allocation for the remainder of the grant balance. Discussion Items 5. ROCA Members' Reports 6. Adjournment The next regularly scheduled meeting of this Committee will be held at 10:00 a.m. on Friday, October 22, 2010, at the OCTA Headquarters. Page 3 of 3