toll road expiry dates

[villiagepeople]

In 10 years - the toll road will be a freeway...

Are you talking about the 261or the 133?  And do you mean literally or figuratively... I can never tell with some people on this board...

Toll roads are eventually transferred to the local government then people won't have to pay a toll to drive on it.

didn't want to hijack that other thread...

does anyone know when the 241, 261, 133 and 73 freeways will stop charging toll?

 

[locolocal]

Never
http://articles.latimes.com/2011/may/06/local/la-me-adv-toll-road-bond-20110506

Tolls on Orange County road may be extended another 6 years
The operators of the San Joaquin Hills tollway want to restructure bond payments on about $430 million of $2.1 billion in debt, pushing back the maturity dates to 2042.

May 06, 2011|By Nicole Santa Cruz, Los Angeles Times

Drivers on the San Joaquin Hills toll road through western Orange County could be paying tolls for an extra six years under a proposed agreement that would restructure about $430 million of its $2.1 billion in debt.

The agreement is asking bondholders to lower payments for 13 years and restructure the way the agency pays interest on certain bonds. An agreement, which would push back the bond maturity dates by six years, to 2042,

 

[test]

"The toll roads also have suffered because of ridership that never materialized.

In the fiscal year 2010, the San Joaquin Hills toll road, which stretches from Costa Mesa to Laguna Niguel, was used 56% less than had been projected. On the Foothill and Eastern toll roads, projections were off by 30%."

Good thing that $50 BILLION high speed rail won't be built.  Oh wait, all the liberals voted for it.

 

[shokunin]

Ha.. 2042?  31 more years until it becomes a freeway.

 

[25inirvine]

I wish they would just connect Portola between Foothill Ranch and Irvine but I don't think that will ever happen.

 

[sgip]

First up is Alton between Irvine Blvd and Portola. That  project was delayed because of soil and leftover issues with the El Toro base. Once Lake Forest starts on their new housing between Portola Springs (Irvine) and Alton (LF), my guess is that the connector will be completed. They want to push as many people onto the 241 as they can before putting in "free" roads.

My .02c

Soylent Green Is People.

 

[25inirvine]

Is Fall 2011 still the estimated completion date for Alton?  All articles I pull is about the groundbreaking ceremony in 2010 saying that is completion date but I can't find any updates.

 

[freedomcm]

"The toll roads also have suffered because of ridership that never materialized.

In the fiscal year 2010, the San Joaquin Hills toll road, which stretches from Costa Mesa to Laguna Niguel, was used 56% less than had been projected. On the Foothill and Eastern toll roads, projections were off by 30%."

Good thing that $50 BILLION high speed rail won't be built.  Oh wait, all the liberals voted for it.

of course, it was the right wing elite of OC who pushed the toll roads  through, saying they would 'pay for themselves' (mostly so that they could develop land that they bought cheap, like RM, and make a big profit).  oops.  now they are forcing their creditors to take a haircut (shades of Greece anyone?).

aren't they still trying to push the toll roads down to Pendleton?

 

[Vinster]

Once the bonds are paid off, is there any guarantee that the toll roads become free?

Instead of using the tolls to pay the bonds, they could just be used for state revenue.

 

[freedomcm]

What they have done on the east coast (prior to the current depression) is say on the expiry that the revenue henceforth would be dedicated to rebuilding the toll roads that had been poorly maintained.  So no expiration.

And of course now they are appropriating that "excess revenue" to balance the state budgets...