Speed Trap Hunter Forum: Best Radar Detectors, Laser Jammers, Laser Detectors, Speed Cameras Forum  

Go Back   Speed Trap Hunter Forum: Best Radar Detectors, Laser Jammers, Laser Detectors, Speed Cameras Forum > Speed Trap & Traffic Enforcement > Economics & Politics
Radar Detectors Forum Logon:

Economics & Politics Discussion of the economic and political market driving factors of automated enforcement technology.

LinkBack Thread Tools Search this Thread Display Modes
  #1 (permalink)  
Old 2008-10-18
NMA Reporter NMA Reporter is offline
Senior Member
Join Date: 2008 Feb
Posts: 125
NMA Reporter is on a distinguished road
Exclamation California Toll Road Needs Billion Dollar Bailout

Article: California Toll Road Needs Billion Dollar Bailout

TCA brochureThe public agency responsible for operating California's largest network of toll roads is now looking to federal taxpayers for financial help. The Los Angeles Times reports that the Transportation Corridor Agencies (TCA) have asked the US Department of Transportation for a record $1.1 billion in TIFIA loan support to avoid collapse. TCA's 51-mile system of roads generates $294 million in yearly revenue.

"Nearly twenty years ago, the political leadership and local developers in Orange County recognized toll roads as the only viable solution to fund the county's much needed road infrastructure," TCA officials wrote in a promotional brochure. "TCA pioneered the concept of public-private partnerships in transportation."

That once-promising model has faltered as motorists hammered by record gasoline prices have decided to save money by avoiding the 73, 133, 241 and 261 toll routes. TCA is not alone in facing diminishing returns. Toll roads around the country and around the world have reported drops in paying traffic of between 10 and 13 percent while gasoline tax receipts have fared much better. As late as June, TCA officials insisted that their public-private partnership model protected taxpayers.

"The toll roads are designed and built with proceeds from the sale of toll revenue bonds, which are repaid entirely by tolls collected on the completed road," TCA spokesman Jennifer Seaton wrote in an email to TheNewspaper. "No tax dollars are at stake."

The construction cost of the TCA toll roads was $1.7 billion. Since 1998, TCA has also levied $420 million through developer fees that are passed on to taxpayers. Around 23 percent of the money collected from drivers so far has gone solely to cover the expenses required to run the collection systems, according to a report by the Washington state Department of Transportation (read report). By comparison, collection cost for the state's eighteen-cent fuel excise tax is just 0.69 percent. Source
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote

Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On
Trackbacks are On
Pingbacks are On
Refbacks are On

Similar Threads
Thread Thread Starter Forum Replies Last Post
California: Toll Road Revenue Continues to Decline NMA Reporter Economics & Politics 0 2009-03-15 22:06
Fitch Goes Negative on California Toll Roads NMA Reporter Economics & Politics 0 2009-02-14 14:07
Toll Road Values Plunge NMA Reporter Economics & Politics 0 2008-12-18 15:20
Illinois Plans Toll Road Within a Toll Road NMA Reporter Economics & Politics 0 2008-10-16 09:30
New Virginia Toll Lanes Designed to Create Congestion NMA Reporter Economics & Politics 0 2008-07-10 19:51

All times are GMT -4. The time now is 04:56.

©2019 SpeedTrapHunter