$4 toll on Narrows Bridge seems safe for now
Posted By Joe Turner on October 21, 2009 at 11:51 am
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I couldn't get over to the Washington Transportation Commission meeting today because it's way over across the pedestrian overpass on the other side of Capitol Way. But Mike Groesch, Senate Transportation Committee staffer-turned-lobbyist, dropped by the press house with an extra handout from the meeting.
Remember when the commissioners were all in a tizzy about declining bridge traffic and how they were talking about how they might have to jack up the tolls right away?
Turns out it was all a false alarm. Even with the softening economy, lotsa folks are driving across the bridge between Tacoma and Gig Harbor.
The handout shows that in only the first three months of this fiscal year -- July, August and September -- actual revenue collections from the bridge are nearly $1.2 million ahead of projections. That's $12.49 million compared to $11.29 million projected.
So, those $4 cash tolls and $2.75 transponder tolls seem to be pretty safe for the rest of this fiscal year, which ends on June 30, 2010.
Commissioners have said they want monthly reports on bridge traffic to see whether they'll have to raise tolls any sooner than July 2010.
I'm assuming the tolls will never go down, just up. Regardless of the fact that the state earned over $1,000,000 more than projected.
Not that I want to pay more than we have to, but there is a silver lining to running a surplus to the debt service projections. The excess dollars will pay off the bonds more quickly, thus reducing our interest costs and length of tolling. So in the long run, we'll save money.
You will never see the tolls go away, it's gonna be a cash cow for the state
A 1.2M surplus...watch the politicians hi-jack these monies for some pet project!!!
We need tolls on the 520 and I-90 bridges as well as the Alaskan Way Viaduct. These tolls should begin now and go until there is enough money to fund their replacements.
Let's have $4 tolls on the King County bridges too.
dereckyoung: Wrong.
TheMaso: Right on.
There's millionaires to be made here.
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