On December 3rd, Fitch Ratings upgraded its ratings of RCTC’s 91 Express Lanes debt, signaling strong financial performance and prudent management of the toll lanes in Riverside County. The 91 Express Lanes not only met but exceeded baseline performance metrics, leading Fitch to upgrade the loan rating from ‘BBB ‘to ‘A.’ In addition to upgrading the bond rating, Fitch reaffirmed the Rating Outlook on the debt as “Stable,” reflecting strong demand for the 91 Express Lanes by customers who depend on reliable travel methods.

The 91 Express Lanes opened in Riverside County in 2017 and was financed partially through a $421 million federal Transportation Infrastructure Finance and Innovation Act (TIFIA) loan, which provided funding for much needed transportation infrastructure improvements. The TIFIA loan was refinanced in 2021, saving taxpayers funds with a decreased interest payment.

In November 2023, RCTC opened the 15/91 Express Lanes Connector and is making strides on the 15 Express Lanes Project Southern Extension with the release of the Draft Environmental Document. Through the toll lanes system, RCTC is building a multimodal transportation system that will help drivers and transit buses with reliable travel options.

Fitch ratings is an American credit rating agency that is one of three nationally recognized statistical rating organizations designated by the U.S. Securities and Exchange Commission.

After extensive public outreach and evaluation of the transportation needs across Riverside County, the Commission has decided that 2024 is not the year to ask Riverside County residents to approve a one-cent sales tax measure to fund transportation projects and services outlined in the Commission-approved 2024 Traffic Relief Plan (TRP). The TRP was developed over a years-long public input effort with Riverside County residents identifying over $30 billion in needed transportation improvements in communities across Riverside County.

“The Traffic Relief Plan shows that we are listening to our residents and looking for ways to reduce traffic congestion, invest in public transportation, fill potholes, and respond to natural disasters to keep our roads safe,” said RCTC Chair Lloyd White and Beaumont City Council Member. “Now it’s not the time to seek voter approval on a new measure to fund the Traffic Relief Plan, but I think the time is coming soon.”

While the Commission was informed at its July 10 meeting that there is significant countywide public support to fund transportation projects, the high public support is just shy of the 2/3rds voter approval threshold required by law to pass a sales tax measure in Riverside County. What has remained consistent throughout years of public engagement is that around 80% of Riverside County voters believe there is at least some need for funding to solve the region’s transportation issues.

The TRP’s proactive framework was designed to meet the region’s transportation needs based on the anticipated population and economic growth as predicted by the Southern California Association of Governments (SCAG). Although the Commission has decided not to place a sales tax measure on the 2024 General Election ballot, the improvements and investments identified in the TRP are ready to be implemented when funding becomes available. Projects such as the Coachella Valley Rail, I-15 Express Lanes Southern Extension, Perris Valley Line Double Tracking, and the Mid-County Parkway Ramona Expressway continue to make strides under the current funding levels. Still, more funding will be needed to build the transportation system that Riverside County residents deserve.

Members of RCTC’s popular vanpool program, VanClub, now have more reasons to celebrate. In addition to the reduced stress, travel time, and commuting cost benefits associated with joining a vanpool with their favorite coworkers, members are now eligible for vanpool subsidies when commuting to worksites in the eastern part of the county, such as the Coachella Valley and Palo Verde Valley. The program’s expansion into eastern Riverside County is a result of the recent transition of SunLine Transit Agency’s vanpools. The agency sunset its SolVan program and transferred existing vanpools to RCTC’s VanClub program. The consolidation will streamline services and enhance the efficiency of vanpool operations across the county, allowing commuters interested in vanpooling to have a large pool of potential ridesharing buddies.

VanClub provides a subsidy of up to $600 per month for all eligible vanpools destined for worksites in Riverside County. The subsidy amount varies and is applied to the cost of the vanpool lease, which includes vehicle maintenance, roadside assistance, and insurance—subject to eligibility and restrictions. This significant financial assistance helps commuters save money and reduce the wear and tear on their personal vehicles.

Since its inception in 2018, RCTC’s VanClub program has been instrumental in providing cost-saving transportation options for commuters with long commutes and challenging schedules. By offering subsidies to eligible vanpools, VanClub has successfully reduced nearly 17 million vehicle miles traveled (VMTs) and 6,400 tons of pollutants, making a significant impact on the environment in our communities. Your choice to join VanClub is not just about saving money; it’s about making a difference by reducing your carbon footprint, getting cars off the road, and enhancing your quality of life through less stressful and more sustainable commuting options.

RCTC’s VanClub is committed to providing safe and reliable vanpools for all, including agricultural workers. Through its partnership with the California Vanpool Authority, a public transit agency, VanClub ensures that a wider range of commuters, regardless of their industry, have equitable access to cost-effective and environmentally friendly transportation options.

“Vanpooling has made my 100-mile daily commute manageable. Sharing the commute with others provides camaraderie. It also reduces my carbon emissions and saves money. Driving alone no longer makes sense,” said VanClub member James E.

VanClub exemplifies RCTC’s commitment to providing innovative and cost-effective transportation solutions for commuters in Riverside County. The program is partially funded by Riverside County’s Measure A, a half-cent sales tax for transportation improvements and services. Additional funding is provided by local Mobile Source Air Pollution Reduction (MSRC) and U.S. Department of Transportation Congestion Mitigation and Air Quality Improvement (CMAQ) grant funds. To sign up for VanClub, visit vanclub.net.

The Riverside County Transportation Commission adopted a $1.3 billion annual budget to fund critical transportation projects and services this month. With the approval of the budget, the Commission set its funding priorities for transportation investments that will help communities across Riverside County.

The priorities include providing direct funding to cities and the County for local road improvement projects. Funding for regionally significant programs and projects such as highway improvements, transit and passenger rail operations, and major corridor improvements are also highlighted in the budget.

RCTC’s budget is project-driven and also encompasses all transportation services and programs administered by RCTC. Significant project and program investments include:

• 71/91 Interchange Project 
• I-15 Smart Freeway Pilot Project 
• Mid-County Parkway Projects, including Ramona Expressway 
• I-15 Express Lanes Southern Extension 
• Metrolink Moreno Valley-Perris Double Tracking 
• Bus Operations and Specialized Transit Programs 
• Streets and Roads Improvements 

The Commission also approved the FY 2024/25 Short Range Transit Plans (SRTP) which are three to five year plans for Riverside County’s operators including the Riverside Transit Agency, Sunline Transit, Palo Varde Valley Transit Agency, Banning Connect, Beaumont Transit, Corona Cruiser, Riverside Connect, and RCTC’s Rail and Vanpool programs.

RCTC, as the transportation planning agency, is responsible by statute to review and approve SRTPs with the intention of identifying transit services and capital improvements, help guide operators’ activities, and to provide justification for operating and capital assistance.

The Commission’s fiscal year annual budget demonstrates RCTC’s financial prudence and strategic planning. The budget identifies funding from local, state, and federal funding sources. Through Measure A, the voter-approved ½ cent sales tax measure, RCTC is able to leverage local funds, while also tapping into federal and state funding, ensuring the stability and success of projects, programs, and services in our communities. To ensure transparency, independent audits of expenditures are made available at rctc.org/finance.  

Check out the projects RCTC is working toward at rctc.org/projects.

Credit rating agencies KBRA and Fitch Ratings recently reaffirmed a series of debt ratings assigned to bonds issued by RCTC for both Sales Tax and Toll Enterprise operations. The announcements demonstrate continued strong financial performance and emphasize the trust RCTC has earned through excellent financial stewardship.

Fitch affirmed the ‘AA+’ rating of RCTC’s local sales tax revenue bonds one year after upgrading the rating from ‘AA’. Fitch credited revenue performance and strong growth prospects as key drivers of the rating.

KBRA also published its affirmation of the ‘BBB’ rating given to RCTC’s toll revenue bonds that helped fund the I-15 Express Lanes. Daily transactions, toll revenues, and operating expenses significantly outperformed KBRA’s original projections for the managed lanes.

Positive debt ratings save taxpayers money by lowering future borrowing costs for planned transportation projects. KBRA and Fitch Ratings are organizations which provide assessments about the creditworthiness of government agencies, corporations, and other entities.

The Point: Upgrade to Commission’s debt rating a result of I-15 Express Lanes exceeding performance metrics  

Fitch Ratings, the New York-based provider of credit ratings that provides assessments about the creditworthiness of government agencies, corporations, and other entities, recently announced an upgrade to RCTC’s debt rating associated with the funding of the I-15 Express Lanes. RCTC financed a portion of the project through a $152.2 million federal Transportation Infrastructure Finance and Innovation Act (TIFIA) loan. The I-15 Express Lanes opened April 2021 and exceeded baseline performance metrics, prompting Fitch to upgrade the loan rating from ‘BBB-‘ to ‘BBB+’.

“The improved debt rating signals the trust and confidence earned through RCTC’s financial stewardship, and represents a long-standing commitment to transparency, disclosure, and excellence in financial reporting,” said RCTC Chair and City of Beaumont Councilmember Lloyd White.

Fitch announced the rating upgrade for the TIFIA loan at the end of December, while also affirming its rating (BBB+) and upgrading the debt outlook to positive for RCTC’s 91 toll revenue bonds – reflecting the strong traffic and revenue levels on the 91 Express Lanes.

In October, RCTC was also recognized with a Certificate of Achievement for Excellence in Financial Reporting – the 30th consecutive year the agency has been awarded with such an honor – capping off another strong year of financial performance and related reporting. The award is issued by the Government Finance Officers Association annually to state and local governments who exceed minimum financial reporting requirements.

Transportation projects in Riverside County may receive a funding boost later this year with the help of our local congressional delegation. In a bid to move regionally significant projects forward, Representatives Ken Calvert, Young Kim, and Mark Takano have submitted three projects on RCTC’s behalf under the Congressional Community Project Funding (CPF) program.

In July, requests included in the Fiscal Year 2024 Transportation, Housing, and Urban Development Appropriations bill include three RCTC-led projects:

• Representative Ken Calvert: $5 million for the Coachella Valley Rail Project
• Representative Young Kim: $4 million for the State Route 91 Eastbound Corridor Operations Project
• Representative Mark Takano: $500,000 for the Metrolink Double Track Project: Moreno Valley-Perris

Securing funding for the Coachella Valley Rail Project is critical to providing expanded passenger rail service to Riverside County residents, increasing access to jobs, education, and services. In July 2022, the Commission unanimously certified the Tier 1 Program-Level Environmental Document for the Coachella Valley Rail Project. Since certification, RCTC has been working diligently to secure state and federal funding for the Tier 2 environmental document that will identify and study potential station locations and detailed engineering, moving the project closer to shovel ready.

The 91 Eastbound Corridor Operations Project is in the early phases of planning. In partnership with Caltrans, the Orange County Transportation Authority, the City of Corona, and the Transportation Corridor Agencies, RCTC is proposing to add an eastbound 91 lane from the 241 Toll Road connector to the 71 in Corona. Engineering and environmental studies have begun and are expected to take 2-3 years. With the help of federal funding, RCTC can complete the engineering and environmental phase.

As part of planned upgrades to the 91/ Perris Valley Line, the Metrolink Double Track Project: Moreno Valley-Perris will add a second set of tracks between the Moreno Valley/March Field Station and the Perris-South Station. The additional tracks will facilitate Metrolink improved operations, allow for increased future service and ensure reliability as part of Metrolink SCORE’s program – just in time for the 2028 Olympics.

With the support and leadership of Representatives Calvert, Kim, and Takano, funding for these much-needed transportation projects will help address the needs of Riverside County’s rapidly growing communities. RCTC will continue to closely monitor the appropriations process and advocate for increased transportation funding at the federal level.

Over the last few years, grants for transportation projects have become increasingly competitive as agencies work to address the mobility needs of growing communities. Not only is the grant application process lengthy and complex, but an award is also not guaranteed. Recently, the Riverside County Transportation Commission worked closely with the Riverside Transit Agency, the city of Coachella, and the Coachella Valley Association of Governments (CVAG) to assemble a series of grant applications for the Southern California Association of Governments (SCAG) Regional Early Action Planning (REAP 2.0) grants program.

The following five Riverside County projects are approved for funding through the REAP 2.0 program:

• Riverside Transit Agency GoMicro Microtransit Pilot Program Extension ($2,378,635)
• CVAG Vehicle Miles Traveled Study ($2,005,000)
• Riverside County Transportation Commission Core Capacity Innovative Transit Study ($3,000,000)
• City of Coachella Rail Station Feasibility Study and Integrated Land Use and Transit Network ($2,005,000)
• CVAG (CV) Link Community Connectors Analysis ($1,700,000)

The REAP 2.0 program was open to County Transportation Commissions, such as the RCTC, to apply for a limited amount of funding for projects aimed at reducing congestion, greenhouse gas emissions, and vehicles miles traveled. Through these projects, RCTC is not only working to address issues related to congestion and air pollution, but also addressing the needs of disadvantaged communities and encouraging sustainable development that produces economic and environmental benefits.

As part of the REAP 2.0 program, submissions had to demonstrate that the studies and projects would eventually encourage housing development closer to where people live and work, reducing the need to travel long distances. These grants will accelerate the state’s progress towards housing goals and climate commitments through a strengthened partnership between the state, its regions, and local entities.

VanClub members and anyone looking for a better commute have more reasons to celebrate! The Riverside County Transportation Commission (RCTC) recently approved an increase to the monthly subsidy vanpool program. The increased subsidy covers 50% of vehicle lease rates – up to $600 per month. Previously, the subsidy covered up to $400. An additional $100 is also available for zero-emission vehicle vanpool leases.

VanClub, a service of RCTC, subsidizes eligible vanpools up to $600 per month towards the cost of a vanpool lease, which includes vehicle maintenance, roadside assistance, and insurance. This means if the monthly vehicle lease rate is $1,050, the subsidy amount paid toward the lease will be $525. If the monthly vehicle lease is $1,200 or more, the subsidy amount will not exceed $600.

According to the U.S. Department of Transportation, private transportation costs increased by 15.5% between 2021 and 2022, raising solo driving costs to all-time highs. By making the switch to vanpool, riders can enjoy reduced transportation costs on gas, tolls, and parking. Riders also get to minimize wear and mileage on their own vehicles and reclaim time in their day.

Communities benefit from vanpools through reduced greenhouse gas emissions from less cars on the road. Since the program’s inception in 2018, RCTC’s VanClub members have helped reduce more than 397,000 drive-alone vehicle trips, 14.5 million vehicle miles traveled, and 5.5 tons in vehicle emissions.

VanClub is partially funded by Riverside County’s Measure A, a half-cent sales tax for transportation improvements and services. Additional funding is provided by local Mobile Source Air Pollution Reduction (MSRC) and federal Congestion Mitigation and Air Quality Improvement (CMAQ) grant funds. VanClub is one of the ways RCTC and commuters can work together for transportation solutions that better the environment and roadway congestion.

For more information about joining or starting a VanClub, visit vanclub.net.

The Riverside County Transportation Commission unanimously approved $135 million for 18 significant regional transportation projects in June. The approved projects will help relieve traffic congestion and improve transportation safety. From street widenings to a grade separation and roadways extension projects, these transportation projects are designed to improve mobility.

“Regional arterial roads are the backbone of our communities and their economies,” said Commission Chair and Lake Elsinore City Councilmember Robert “Bob” Magee. “RCTC continues to deliver on promises made to Riverside County voters to improve mobility for our residents and businesses. Many communities will see tangible results from the funds approved by the Commission,” he said.

Funding for arterial projects is vital for mobility and economic opportunities in Riverside County. Roadway arterials help our residents access their jobs, homes, and local businesses. Arterial projects such as the Bundy Canyon Rd./Scott Rd. Widening in Menifee will widen existing roadway, redesign and realign curves to current standards, construct new and improve existing traffic signals, and will provide an Active Transportation Corridor (ATP Corridor) for bicyclists, pedestrians, and even small electric vehicles.

This is just one example of improvements on one project. Other projects throughout the County will see improved safety, connectivity, and air quality in our communities thanks to Measure A and TUMF.

Measure A, the voter-approved half-cent sales tax that provides funds for passenger rail, public transit, local streets and roads, and major highway projects, will fund approximately $85 million of the awarded amount. Measure A includes specific funding in western Riverside County for regional arterials, which are major regional roadways. The Transportation Uniform Mitigation Fee (TUMF) will provide $50 million of the awarded funds. TUMF is an impact fee on new land development in western Riverside County.

Projects receiving funding include:

• City of Banning – Sun Lakes Extension ($13,500,000/Measure A)
• City of Beaumont – Second St. Extension ($1,500,000/Measure A)
• City of Beaumont – Potrero Interchange Phase 2 ($8,000,000/TUMF)
• City of Calimesa – Realign Calimesa Blvd. at Cherry Valley Blvd. ($5,200,000/TUMF)
• City of Corona – Ontario Ave. Widening ($7,938,781/Measure A)
• City of Eastvale – Limonite Ave. Gap Closure Project ($13,500,000/Measure A)
• City of Menifee – McCall Blvd. Widening Project ($3,140,000/Measure A)
• City of Menifee – Bundy Canyon Rd./Scott Rd. Widening ($632,440/Measure A) & ($9,367,560/TUMF)
• City of Moreno Valley – Indian St./Cardinal Ave. Bridge (Over Lateral A) ($750,000/Measure A)
• City of Murrieta – Murrieta Hot Springs Rd. Widening – Margarita to SR-79 ($3,000,000/Measure A)
• City of Perris – Ethanac Rd. Bridge over San Jacinto River & and Extension ($8,798,000/TUMF)
• City of Riverside – Third St. Grade Separation ($12,000,000/Measure A)
• City of San Jacinto – Esplanade Ave. Widening – Sanderson to Warren ($3,960,00/Measure A)
• City of Temecula – Ynez Rd. Improvements ($1,475,000/Measure A)
• City of Wildomar – Clinton Keith Rd. Widening ($2,254,919/Measure A) & ($3,396,221/TUMF)
• City of Wildomar – Bundy Canyon Rd. Improvement – Segment 2 ($13,298,440/Measure A)
• City of Wildomar – Bundy Canyon Rd. Improvement – Segment 3 ($8,050,420/Measure A)
• County of Riverside – Cajalco Rd. Widening and Safety Enhancement ($15,000,000/TUMF)

Including last week’s approved projects, Measure A Arterial Regional program has provided funding to more than 25 regional arterial projects since its inception in 2009.