TRANSPORTATION CORRIDOR AGENCY - FOOTHILL - EASTERN CORRIDOR

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development projects, and as noted in Section I of this report has indicated its general intent to require all new development to bear a portion of the costs of the corridors by payment of development fees (Major Thoroughfare Fee). Funds from other more traditional sources (e.g., existing state and federal taxes on motor vehicle fuel) and from other non - traditional sources (e.g. toll revenues) will be sought for the portion of the cost not funded by development fees. State Route 73 (Corona Del Mar Freeway) has been legislatively redescribed to correspond with the route of San Joaquin Hills Transportation Corridor. Similar legislation has been approved by the Legislature (SB 2048 and SB 2049) and is pending signature by the Governor to place the Foothill /Eastern Corridors in the State Highway System. The San Joaquin Hills Transportation Corridor also has been designated as the "first phase" of a federal pilot project authorized by HR2, Surface Transportation Act of 1986, thereby making it eligible for a maximum of 35% federal funding, if approved by the California Transportation Commission in its State Transportation Improvement Program (STIP). This Major Thoroughfare &, Bridge Fee Program focuses only on the portion of the corridor implementation costs which may be attributable to new growth and for which development fees are proposed. The statutes identified in Section I of this report which authorize the collection of development fees specify that an Area of Benefit (AOB) shall be established which encompasses real property, which will benefit from construction of the major thoroughfares and bridges. The method of determining the AOB and the share of total corridor costs proposed to be paid by new development in the form of fees is explained in Sections VI and VIII of this report. -11-