Commission OKs toll increase for 520 bridge

Commission OKs toll increase for 520 bridge

Credit: KING

Commission OKs toll increase for 520 bridge

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by KING 5 News

KING5.com

Posted on May 22, 2013 at 9:55 AM

Updated Wednesday, May 22 at 1:02 PM

The Washington State Transportation Commission unanimously voted to adopt a 2.5 percent toll increase for the State Route 520 bridge.

The new rates go into effect on July 1.

Under the new rates, Good To Go! charges will peak at $3.70 while Pay by Mail rates will reach $5.25 during peak travel times.

SR 520 traffic and revenue are meeting projections, according to the commission. Tolls are on track to pay more than $1 billion towards the construction of the new bridge.

The new bridge is scheduled to open July 2016 and will bring with it a 15 percent increase in tolls.

The state commission may adjust these rate increases based on their annual review of traffic and revenue. They consider expenses, trends in traffic volume, scheduled bond payments, account balances, and public comments when setting the rates.

State law requires that toll rates are sufficient to pay for debt payments, maintenance, preservation and operations of the bridge.

Four independent entities must certify that a proposed rate increase will meet legal mandates.

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