Initial Financial Failure of SR91 Hot Lanes in LA

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   I must have been reading a different article. The article "2006.09.13 Enforcement needed on 91 Express Lanes - lane crashers," states: "The county has received offers of over $500m for the business (rights to manage the HOT lanes) from investor groups. However county operations of the tollroad are a political as well as a financial success, and there is a cloud over even the idea of private ownership from the controversies that surrounded first seven years of the project." And while this article points to private ownership controversy, money talks folks, and aparrently HOV walks! With this kind of success we are all screwed!

	Other local news hints at the future HOT backups at toll booths as drivers enter and exit in response to fee-per-mile charges, "2006.09.12 Rear ender at Baltimore tunnel toll plaza incinerates man," "A rear end collision early yesterday afternoon on the northbound approach to the toll plaza of the Baltimore Harbor Tunnel set off a fire in a Chevy van and trapped a passenger who was burned to death before he could be gotten out." Tragic!

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n/a Members Profile Find Members Posts New Slug Joined: 17 Dec 2001 Location: VA Status: Offline Points: 0	Post Options Post Reply Quote n/a Report Post Thanks(0) Quote Reply Posted: 20 Sep 2006 at 1:13pm
	I must have been reading a different article. The article "2006.09.13 Enforcement needed on 91 Express Lanes - lane crashers," states: "The county has received offers of over $500m for the business (rights to manage the HOT lanes) from investor groups. However county operations of the tollroad are a political as well as a financial success, and there is a cloud over even the idea of private ownership from the controversies that surrounded first seven years of the project." And while this article points to private ownership controversy, money talks folks, and aparrently HOV walks! With this kind of success we are all screwed! Other local news hints at the future HOT backups at toll booths as drivers enter and exit in response to fee-per-mile charges, "2006.09.12 Rear ender at Baltimore tunnel toll plaza incinerates man," "A rear end collision early yesterday afternoon on the northbound approach to the toll plaza of the Baltimore Harbor Tunnel set off a fire in a Chevy van and trapped a passenger who was burned to death before he could be gotten out." Tragic!

Bob Members Profile Find Members Posts New Slug Joined: 14 Dec 2001 Status: Offline Points: 0	Post Options Post Reply Quote Bob Report Post Thanks(0) Quote Reply Posted: 20 Sep 2006 at 10:52am
	from www.tollroadsnews.info Information on the intial failure of SR91 HOT lanes and the factors that precipitated investors to bail out and sell back to the county agency. Non-compete clause was major factor. Bob After seven years of investor ownership they were sold for $207m plus some debt defeasement on Jan 1 2003 to Orange County Transportation Authority (OCTA). The investors had other avenues for their investment and the local managers had tired of constant political demagoguery and litigation about the toll concession's no-extra free lanes or "non-compete" provision. As part of the buy-out of the concession and the transfer to OCTA the restriction on extra free lanes was quashed. see www.91expresslanes.com