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CBTA TAC told to prepare project timelines as bond due diligence progresses
Summary
Staff outlined early steps for a potential CBTA bond issuance and asked TAC to identify regional candidate projects and develop timelines to support due diligence; committee members were asked to align work with bylaws and prioritize projects consistent with the authority’s existing prioritization process.
CBTA staff briefed the Technical Advisory Committee on March 10 about preparatory work for potential bond issuance, including an ongoing bond-validation effort that staff expects to continue through most of 2025.
Staff said the bond effort remains in an early, informational phase; if validation proceeds, the authority will need candidate projects that demonstrate true regional impact and clear timelines for delivery. TAC’s suggested responsibilities include recommending one candidate project per locality for inclusion on a list, developing project timelines that reflect phasing and years of expenditure, and communicating the project budget as a percentage of total costs to clarify the CBTA request versus other funding sources.
Members asked how project prioritization would interact with the bond process and whether the finance committee would set funding allocations. Staff responded the process is still being defined but said it is assumed the authority’s established prioritization and scoring framework would apply. One member suggested cross-checking the proposed TAC responsibilities against the authority’s bylaws to ensure committee duties are aligned with governance documents.
Staff emphasized TAC’s role would be to evaluate project feasibility, phasing, and scheduling — not to make final financial decisions on bonding — and said the finance committee and a finance directors working group will handle technical financing matters. The item will return to a future TAC agenda with more specific timelines and candidate project guidance as the bond validation work progresses.
