ORANGE – The Orange County Transportation Authority is set to close escrow on a building that will serve as its new headquarters – a move expected to save taxpayers approximately $50 million over the next 30 years compared to continuing to lease its current office space.
The building set to close escrow by Oct. 28 at 2677 North Main St. in Santa Ana is less than a mile from the current OCTA headquarters on Main Street in Orange.
For more than three decades, OCTA has leased its headquarters at Union Bank Square in Orange but after an extensive evaluation process, including the formation of a Real Estate Ad Hoc Committee, the Board of Directors determined that owning a building would provide greater financial and operational benefits…