In this section we will discuss two California case studies. The first is the collection of toll roads in Orange County, CA that form the Orange County Toll Roads Network. The second is the Southbay Express way or SR-125. We chose these two case studies P3s because:

1. While the OC Toll Roads are not a true P3 they use alternative asset procurement and financing and they are tolled;
2. SR-125 was a straight P3 concession and was one of the AB 680 projects; SR-125 went bankrupt, offering not only key learning points on the implementation of concession P3s but also specific insight regarding how the public sector works with a bankrupt, privately-owned and operated regional transportation asset;
3. In theory, largely Republican jurisdictions like Orange County and San Diego would be more open to P3s as they are more likely to be anti-tax and generally amenable to market-based solutions like pricing; and
4. As per Caltrans request, we focused on Californian projects.

Our case studies for both the OC Toll Roads and the South Bay Expressway will chronologically
examine: origins of the corridors and preliminary work undertaken; enabling legislation for financing and
operation of the corridors; routing choices for the corridors and the environmental review process;
corridor contractors, subcontractors, and physical construction; corridor performance; and future
prospects. We begin with the Orange county toll roads followed by the Southbay Expressway. Finally we
offer a brief conclusion.