Loading...
12 December 19, 2008 SR-91 Advisory85985 CB, MB, AM, JSt, PC 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