At a time when you can least afford it, the Expressway Authority wants to increase tolls big time. It would cost you an extra 25 cents at almost every toll booth and those quarters will really add up.
The Expressway Authority pitched the drastic toll hike to county commissioners Tuesday morning. If approved, almost every toll booth on the 408, 429, the Beachline and most of the 417 will cost a quarter more. In some places, that’s a 100-percent increase.
The Expressway Authority says it’s running out of money. Traffic is way down and that means revenue is off more than eight-percent. Now they want to make up for millions in losses one quarter at a time.
The Expressway Authority is counting on an extra 25 cents for every one of the cars going through a toll. It could generate an extra $37 million dollars next year, but they won’t get a dime from drivers like Rose Tanner.
“Who can afford another 25 cents? I’m going to go around. I’m not going to take the tolls,” she said.
Expressway Authority Executive Director Mike Snyder told Orange County commissioners the Expressway Authority is out of options and almost out of money. He said they’re in danger of defaulting on more than $2 billion in bonds if revenues keep dropping.
“There is a real possibility that the people who own the bonds can step in and take over the organization and raise tolls. There will be no questions asked. They will raise tolls to protect their bonds,” Snyder said.
Snyder said the higher tolls can give the Expressway Authority credit to borrow another $648 million to continue construction projects, generating 18,000 jobs.
But even Rose Tanner, who recently lost her job, says pitching in another quarter at tollbooths is too much to ask.
“That’s some food, that’s some gas, so I think it’s a rip-off,” she said.
The Expressway Authority board will vote on the toll hike next week. If it passes, you could start seeing toll booths rates increase as soon as April.
Tolls are going up across the country. In Massachusetts, New Jersey and Illinois, rates have gone up in just the past year. And, even if tolls go up in the Orlando area, they would not be the most expensive the state. Polk Parkway, the Miami Dade Expressway and the Tampa Cross-town Expressway all charge a higher total rate per mile.
Source: wftv.com
