Phase 1 - Vehicular Tunnel and Rail Tunnel (Not To Scale)
Operations & Maintenance
$51.7 Million annual
The financial analysis results in a need for $28.3 billion in bond proceeds. Estimated tolls are not sufficient to cover debt service and operating costs. The high financing costs are attributed to the long construction schedule, capitalized interest, and inflation.
Additional study of the Irvine Corona Expressway tunnel project has been deferred until such time as financial considerations improve and/or technological advancements warrant reexamination. Future tunnel discussions will be evaluated annually by the State Route 91 Advisory Committee as part of its State Route 91 Implementation Plan update. The annual review will determine if any of the major assumptions with regard to financial considerations, private sector interest, or technological advancements have changed to make the tunnel financially viable.
91 Express Lanes
OCTA Administrative Office
550 S. Main StreetOrange, CA 92868