Posted on 01/12/2012 4:52:01 PM PST by dragonblustar
GIG HARBOR — Tacoma Narrows Bridge tolls were always going to increase. Bond payments were set up that way.
The questions are when and how much. Preliminary answers from a workshop Wednesday night are July 1 and a lot.
Department of Transportation experts kicked off the toll-raising process by updating the bridge's citizen advisory committee with the latest traffic and revenue numbers. They also provided four toll scenarios. In them, the electronic rate would jump from $2.75 to $4.25 or $4.50, the manual rate from $4 to $5.50 or $6, and the photo tolling rate from $5.50 to $7 or $7.50.
Toll payers have avoided an increase since 2008 through various means, and it's caught up to them.
Because of the recession, traffic has flattened out at 14 million transactions a year instead of the forecasted 16 million, meaning less money is coming in. Bond payments rise each of the first 17 years of the 30-year payment schedule. In December, tolls must start repaying sales taxes on construction — $5.7 million a year for 10 years — that were deferred for the first five years. A $5.3 million startup loan from the state's gas tax account also must be repaid.
Read more: http://www.kitsapsun.com/news/2012/jan/12/narrows-bridge-tolls-poised-for-big-jump-in-july/#ixzz1jIJNq9L9
(Excerpt) Read more at kitsapsun.com ...
Just like this, NOW people are just starting to figure out just what “Smart Meters” mean for their privacy and freedom...3 years after the Dems got it through in their ‘Stimulus’. At the time, the Dems were suprised that the Republicans rolled over so easy...so I guess when you have IDIOTS as Republican ‘leaders’ you get this crap.
I agree.
They should have hired those Publishers Clearing House guys to figure out the payments.
Don’t these idiots realize that by raising the tolls they will further reduce usage, thereby requiring another increase?
Which no doubt was wildly inflated so it would sound better.
Let's see, we also have them demolishing the viaduct and replacing it with a tunnel at the Seattle waterfront. The most expensive of all possible options.
Why? I read it in the Tacoma News Tribune.
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