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Orange County Development Impact Fee Forecast

The Transportation Corridor Agencies (TCAs) were formed more than 20 years ago to plan, finance, construct, and operate Orange County's 67-mile public toll road system. As the TCAs worked to optimize their operations and financial profiles, they commissioned traffic and revenue studies to support the re-capitalization and possible consolidation of their toll road assets.

 

Orange County Development Impact Fee

Part of this effort was an evaluation and forecast of their Development Impact Fee (DIF) program, which covers the lower two-thirds of Orange County. WSP USA prepared investment grade forecasts for the Foothill/Eastern and San Joaquin toll roads in support of TCAs’ goal. The study included forecasting revenues from the DIF program under varying development scenarios and macroeconomic conditions. For the first time, DIF revenues were proposed to be dedicated for debt repayment along with toll revenues. A complex analysis considering forecast development over a very large area of benefit was conducted under terms of TCAs’ enabling legislation and the individual agreements negotiated with major property owners. DIF fees, measuring hundreds of millions of dollars were forecast for the individual agencies and varying fee zones. The work required an in-depth analysis of Orange County real estate markets and determinations of their capacity to absorb new development in all major land use categories.