SAN FRANCISCO (CBS SF) — The Golden Gate Bridge, Highway and Transportation District’s board of directors on Friday approved a new plan to increase tolls on the bridge over five years starting July 1.
The board was considering five different toll increase scenarios. The board’s finance and auditing committee has recommended considering two of the options.
The option that was approved Friday — option five — would increase FasTrak 35 cents a year, Pay-As-You-Go 20 cents a year and invoice billing 35 cents a year. FasTrak would increase to $8.75, Pay-As-You-Go to $9 and invoice billing to $9.75 over the five-year period. Option five will raise an estimated $100 million over five years.
The other option that had been recommended — option three — would have raised approximately $90 million over five years with a different toll increase rate.
The bridge district says the five-year toll increases are necessary because it needs $75 million over that period for operations, the purchasing or leasing of suppliesand materials, financial reserves and requirements and for capital projects that are necessary to maintain service.
As of March 5, the district had received 53 public comments, 37 of which were opposed to toll hikes. Seven comments were in favor of the toll increase and eight favored an different revenue-raising proposal.