Monday, April 9th, 2007
Will the toll for the new 520 bridge spread to the I-90 bridge?
State Treasurer Michael Murphy says they have to, or the new 520 bridge will not have enough funding.
http://seattlepi.nwsource.com/transportation/310810_tolls09.html
State Treasurer Michael Murphy rejects the finance plan for the proposed rebuilding of the Evergreen Point Bridge and won't bankroll the project unless lawmakers levy tolls on the Interstate 90 crossing as well as the new bridge.
Murphy said in an interview that he won't sell bonds for the project without the additional tolling because the state can't afford it under current finance plans. He says the tolls should be put in place before the new state Route 520 bridge is completed.
As it stands, financing falls billions of dollars short even with $1.2 billion of anticipated revenue from tolling just the Evergreen Point Bridge.
The issue isn't just the projected revenue being short, it is people bypassing the toll on the 520 by taking the I-90, effectively gutting the projected revenue, and taking us from bad to worse. In that they may have a valid concern.


