The Orange County Transportation Authority (OCTA) announced Oct. 25 a savings of $482 million on the Interstate 405 improvement project through debt service savings, a large help on the $2.1 billion project. “I’m proud of OCTA for being proactive in taking advantage of low-interest rates to help save millions of dollars for our taxpayers,” OCTA Chairman Andrew Do said in a statement. “Thank you to our partners at the U.S. Department of Transportation for working with us to create a model on how to refinance a drawn TIFIA loan, setting an example for other transportation agencies throughout the country to save public funds that can be reinvested in our infrastructure.” Last month, OCTA secured a savings of $158 million after being the first agency ever to reset a partially drawn Transportation Infrastructure Finance and Innovation Act (TIFIA) loan by paying off its existing loan and executing a new one while …