HomeMy Public PortalAbout12 December 19, 2008 State Route 91 Advisory85985 CB, MB, AM, JSt,
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STATE ROUTE 91 ADVISORY COMMITTEE
AGENDA
Date:
Time:
Friday, December 19, 2008
9:00 a.m.
Where: Orange County Transportation Authority
Headquarters — First Floor, Room 154
600 South Main Street
Orange, California
MEMBERS
Carolyn Cavecche
Committee Chairman
Bob Magee
Committee Vice Chairman
Bob Buster Curt Pringle
RCTC OCTA
Bill Campbell
OCTA
Jerry Amante Frank Hall
OCTA RCTC
Art Brown
OCTA
Eugene Montanez
RCTC
John Tavaglione
RCTC
Ron Roberts
Alternate - RCTC
EX-OFFICIO MEMBERS
Ray W. Wolfe Cindy Quon Paul Biane
Caltrans District 8 Caltrans District 12 SANBAG
For further information, please contact Wendy Knowles, Orange County Transportation Authority
Clerk of the Board, at (714) 560-5676.
HH.35.02
AGENDA
State Route 91 Advisory Committee Meeting
Orange County Transportation Authority Headquarters
600 South Main Street, First Floor— Room 154
Orange, California
Friday, December 19, 2008, at 9:00 a.m.
Any person with a disability who requires a modification or accommodation in order to
participate in this meeting should contact the Orange County Transportation Authority
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
The agenda descriptions are intended to give notice to 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.
Public Comments on Agenda Items
Members of the public wishing to address the Committee regarding any item appearing on
the agenda may do so by completing a Speaker's Card and submitting it to the Clerk of
the Board. Speakers will be recognized by the Chairman at the time the agenda item is to
be considered. A speaker's comments shall be limited to three (3) minutes.
Call to Order
Committee Chairman Cavecche
Pledge of Allegiance
Committee Vice Chairman Magee
Special Calendar
1. Recognition of Appreciation for Enrique Julia and Charles Martin
2. Freeway Complex Fire
Page 1 of 3
AGENDA
State Route 91 Advisory Committee Meeting
Consent Calendar (Items 3 and 4)
All matters on the Consent Calendar are to be approved in one motion unless a
Committee Member or member of the public requests separate action on a specific
item.
3. Approval of Minutes
Of the May 30, 2008, State Route 91 Advisory Committee meeting.
4. 91 Express Lanes Monthly Status Reports
Kirk Avila, General Manager of 91 Express Lanes, Orange County Transportation
Authority
Overview
The 91 Express Lanes' status reports for the months of July 2008, August 2008,
September 2008, and October 2008 have been prepared for the State Route 91
Advisory Committee review. The reports highlight operational and financial
activities.
Recommendation
Receive and file the 91 Express Lanes' Monthly Status Reports for the months of
July 2008, August 2008, September 2008, and October 2008.
Regular Calendar
5. 91 Express Lanes' Debt Restructuring
Kirk Avila, General Manager of 91 Express Lanes, Orange County Transportation
Authority
Overview
Over the past several months, Orange County Transportation Authority staff
evaluated various alternatives related to the restructuring of the 91 Express
Lanes debt. The variable rate demand bonds experienced higher interest rate
costs as a result of the downgrading of Ambac Assurance Corporation and the
collapse of Bear Steams and Lehman Brothers in 2008. Staff worked with the
Orange County Treasurer's office to negotiate a private placement transaction
for a two-year period for the $100 million in variable rate demand bonds. The
two most recent agenda items on the debt restructuring are attached.
Page 2 of 3
AGENDA
State Route 91 Advisory Committee Meeting
5. (Continued)
Recommendation
Receive and file the 91 Express Lanes Debt item dated October 8, 2008, to the
Finance and Administration Committee and the 91 Express Lanes Financing
Documents item dated November 12, 2008, to the Finance and Administration
Committee.
Discussion Items
6. Ortega Highway (State Route 74) Safety Project Construction Update
Jim Beil, Deputy District Director, Capital Outlay Program, Caltrans District 12
7. State Route 91 Corridor Improvement Project Update
Michael Blomquist, Toll Programs Director, Riverside County Transportation
Commission and Tony Rahimian, President, RMC, Inc.
8. 91 Express Lanes' Traffic and Revenue Study Update
Kirk Avila, General Manager of 91 Express Lanes, Orange County Transportation
Authority
9. General Manager's Report
10. Committee Members' Reports
11. Public Comments
12. Closed Session
There is no Closed Session scheduled.
13. Adjournment
The next regularly scheduled meeting of this Committee is yet to be determined
and will take place in Corona, California.
Page 3 of 3