Orange County Branch Newsletter
Kraman Named CEO of Transportation Corridor Agencies
IRVINE, Calif. – December 16, 2014 – Michael A. Kraman has been selected CEO of the Transportation Corridor Agencies (TCA) – the government agency responsible for the largest network of toll roads in California.
Kraman joined TCA in May 2012 as chief engineer overseeing environmental planning, engineering design, construction and contracting activities for State Routes 73, 133, 241 and 261. He was made acting CEO in March 2014 and has spearheaded the agencies’ strategic outlook as well as its daily operations.
He recently led the agency through the successful refinancing of $1.4 billion of its $2.2 billion in outstanding debt issued to fund construction of the 73 Toll Road. The refinance not only improves the toll road’s long-term financial health by lowering the annual debt service payments, but also steers Orange County's toll roads in a direction that will benefit customers and provide long term stability for the region’s transportation network.
Prior to joining TCA, Kraman served as the Southern California District Leader for HNTB – a national infrastructure solutions firm serving public and private owners and construction contractors – where he was responsible for operations in Orange County, Los Angeles, Riverside, San Bernardino and San Diego. He served as the design manager for the $1 billion 405 Sepulveda Pass Widening design-build project in West Los Angeles which included its 56-hour weekend full freeway closure event coined “Carmaggedon” that took place in July 2011.
“I’m honored by TCA’s Boards of Directors’ decision and intend to operate the toll road network in a fiscally conservative manner and provide value to our customers. We are strong stewards of the environment and will continue to maintain our 2,000 plus acres of open space and restored habitat and future capital projects will be delivered in an
environmentally responsible manner,” said Kraman. “It has been a privilege to serve as the acting CEO and I plan to ensure that TCA continues to improve mobility in Southern California without the use of taxpayer dollars.”
Kraman earned a bachelor’s degree in civil engineering from the United States Coast Guard Academy and a master of science in civil engineering degree from the University of Illinois at Champaign-Urbana. He is a registered professional engineer in California and numerous other states.
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The Transportation Corridor Agencies (TCA) are two joint powers authorities formed by the California legislature in 1986 to plan, finance, construct and operate Orange County’s 67-mile public toll road system. Fifty-one miles of the system are complete, including the 73, 133, 241 and 261 Toll Roads. A quarter of a million people from all over Southern California use TCA’s toll roads each day. Elected officials from surrounding cities and county supervisorial districts are appointed to serve on each agency’s board of directors. Public oversight ensures that the interests of local communities and drivers are served and that TCA continues to meet the region’s growing need for congestion-free transportation alternatives. For more information: http://thetollroads.com. Like us on Facebook: http://facebook.com/TheTollRoads. Follow us on Twitter: http://twitter.com/TheTollRoads. Subscribe to our YouTube channel: http://youtube.com/TheTollRoadsOC.
Transportation Corridor Agencies Press Contact: Sarah Swensson King | 949.754.3417 | [email protected]