I-405 Project will cost $2 billion

The I-405 Improvement Project is funded mostly through a combination of local, state and federal funds, with costs for the express lanes covered by those who choose to pay a toll to use them.

OCTA secured a $629 million federal Transportation Infrastructure Finance and Innovation Act (TIFIA) loan for the I-405 Improvement Project, which will cover a major portion of the $2 billion worth of freeway improvements now underway.

Over the course of the years-long project, Orange County taxpayers will save $300 million in interest costs, thanks to the U.S. Department of Transportation TIFIA loan program, according to www.octa.net.

For the answers regarding frequently asked questions about the project, see page 3.