Toll Roads’ Toll Too Dear

* I’ve read the recent letters extolling the benefits of the toll roads that now scar formerly pristine portions of Orange County, and I have a few questions.

First, how can anyone afford to use them on a daily basis? I considered taking the Foothill toll road from my home in Tustin to my job in Corona, but the expense was prohibitive. For about 12 miles of toll road to the 91 freeway, the cost is $3.25. Five round trips weekly would total more than $1,600 per year.

One recent letter writer referred to tolls as paying for “the luxury of convenience.” How many of us can afford such luxuries?

Second, how wonderful will these roads be after developers build the tens of thousands of new homes and businesses planned for the newly accessible land?

Although I question the judgment of anyone who’d buy a home they’d have to pay to get to, there will surely be buyers. And in a few short years the toll roads will be as congested as the freeways. What then?

Finally, where are the alleged 200,000 people currently using the roads daily? When I have taken a toll road, I’ve often gone miles without seeing another car. It’s like driving in Montana.

Unless the tolls are reduced to a reasonable rate, usage will not increase enough to noticeably improve traffic on the freeways.

Every time I try the toll road I become even less enthusiastic. The lack of traffic allows me to notice the beauty of the land that will soon be covered with cookie-cutter tract houses and to mourn the deer and other wildlife that will lose their habitat forever.

The two toll-booth stops allow me to contemplate the damage inflicted on my wallet. And the wide-open road makes me feel like the most selfish person on earth, helping to destroy our precious wilderness just to save me a few minutes’ drive.

DEE ANNE SANTOS

Tustin

* Quotes from letters to The Times:

“I wish the toll road went farther south”; “I can hardly wait for the Foothill South to be complete”; “Can’t wait for the Foothill to be extended to San Clemente.”

It sounds as if they were all reading the same script, orchestrated by the Transportation Corridor Agencies.

The Times continues to print letters propagating the false information generated by the TCA, without regard for the truth or the facts regarding the proposed toll road.

On Oct. 3, a letter writer stated the recent refinancing saved users some $400 million in interest costs. On Oct. 10, a letter writer said the refinancing was to obtain better rates.

Although both statements are completely false, The Times certainly can print letters from readers expressing their (incorrect) impressions. But to be a responsible newspaper, The Times must also print letters stating the correct information.

The toll road refinancing of 1999 will cost substantially more in interest costs, investment banker expenses and bond insurance expenses.

The TCA claimed the refinancing reduced their “cash flow” by $400 million, not interest rates. The actual interest rates are substantially higher, but by postponing payoffs to future years by issuing zero coupon bonds, no interest needs to be paid until the bonds mature.

But because investors in these bonds are accepting higher risks, they expect and receive higher returns.

The Foothill/Eastern toll roads are the highest-leveraged toll roads in the United States, borrowing almost $11 million per lane mile.

To obtain funds to pay off these bonds the TCA not only needs toll road revenue but must also depend on a line of credit from the federal government (tax money, for those who do not understand financial terminology) and development impact fees (which means they need construction development in their marketing areas to pay for the roads).

As far as the number of vehicles using the current toll roads is concerned, one has to question how the TCA counts.

To go from Interstate 5 in the Irvine area to the 91 freeway near Yorba Linda, about 14 miles, a vehicle first travels on the 133, which is free, then a short segment of the Foothill toll road (241), and then the Eastern toll road. Even though only one vehicle uses the toll roads for about 10 miles, this counts as two vehicles.

Did you ever wonder why the toll road revenues do not match the claimed vehicular traffic on the toll roads?

CALVIN HECHT

San Clemente

* Are the letters in favor of toll roads in the Oct. 10 paper the best you folks could do?

How could anyone make such a statement such as “I know there are far more people that do use the toll roads than use the parks of California.” What? The writer was joking, right?

And to the writer who thinks the Foothill extension will help her commute from Corona del Mar: Try looking at a map.

This toll road through our state park will not help her miserable drive anywhere. To anyone who thinks this bad idea and waste of cement is to lessen your lousy commute, wake up.

It’s a front to encourage urban sprawl. Once that happens the fancy little toll road will also be full of other cars and then drivers can pay to sit in a traffic jam.

Next idea, please.

JEFF PAGE

San Clemente