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<br />Orozco, Norma <br />From:Michelle Schumacher <schumacherfamily@me.com> <br />Sent:Sunday, April 18, 2021 11:38 AM <br />To:Michelle Schumacher <br />Subject:Public Comments for the Next Meeting <br />I ask for your support in reducing a significant tax on all residents that often times goes unnoticed. <br />Are you aware that the Transportation Corridor Agency (“TCA”) has taxed OC homeowners to the <br />tune of $754 Million Dollars since is was established in 1987. This tax comes in the form of <br />Development Fees that are assessed on new residential & commercial properties built or remodeled <br />in OC. <br /> <br />The TCA Formed in 1987 with the explicit purpose of constructing the Toll Roads. <br />At the time that the TCA was established bonds were issued to pay for construction of these the <br />Toll Roads. <br />The promise made by the TCA at the time was that the debt taken on by the TCA for construction <br />of these new Toll Roads would be paid off through a combination of Development Fees & Tolls <br />collected. <br />100% of the debt was to be paid off and the Toll Roads were supposed to become Freeways after <br />30 years. <br />The TCA has horribly mismanaged & squandered these silent taxes paid for by your constituents. <br />Not only are the Toll Roads not Freeways, but the TCA is still owes over $4.7 BILLION for <br />construction. This is a dereliction of duty & a travesty for OC Taxpayers. <br />By the time the bonds are repaid it will cost 11 Billion - the debt is going in the WRONG <br />direction. <br />The TCAs new Vision Plan demonstrates serious mission creep and is trying to become a regional <br />bank. <br /> <br />It is time to the TCA solely focus on paying down the bonds, instead of driving up housing & the <br />cost of business with these empty toll roads. <br /> <br />1 <br /> <br />