OCBC urges OCTA to adopt financing plan, get I-405 Improvement Project Moving
Leveraging Measure M funding, the I-405 Improvement Project will improve mobility with the construction of two general purpose lanes, as well as further alleviating traffic with an additional two express lanes. On Wednesday, OCBC’s Bryan Starr, Senior Vice President testified at the Orange County Transportation Authority’s (OCTA) Finance and Administration Committee meeting in support of OCTA staff’s recommended managed lane policy. The plan that was approved by the committee on a 6-1 vote, ensures maximum throughput while maintaining the ability to ensure necessary levels of revenue to cover construction and operational costs. Known the Hybrid B1/C1 project, OCTA proposes that for the first three and a half years, single drivers pay a toll at all times on the express lanes, two or more riders drive free during non-peak hours, and three or more riders drive free all day. Starting in mid-2026, that policy would change to begin charging two or more riders all hours, and three or more riders would continue to drive for free all day. OCBC agrees that the Hybrid B1C1 proposal achieves maximum throughput and mobility through the corridor, while also garnering the necessary funding to construct and operate the improvements.
Of paramount importance to OCBC is local control on I-405. OCBC asserts that OCTA is the agency best suited to implement the I-405 Improvement Project and the plan approved by the Finance and Administration Committee. OCBC asks that the full board approves the Hybrid B1/C1 plan to expedite construction and cease costly delays. The I-405 is currently the most heavily traveled freeway in the nation, with traffic projected to increase 30 percent by 2040. For more information, contact Bryan Starr, Senior Vice President, Government Affairs.