South Bay Expressway meeting revenues, but why?
A little history lesson is instructive here. This toll road went bankrupt in less than 3 years after opening. Traffic forecasts were off by nearly 40,000 cars a day! The public private partnership's bankruptcy forced the federal taxpayer to write down nearly $80 million of the federal TIFIA loan that subsidized the privatized tollway. So it's not hard to put this tollway in the black when it's starting with a much lower debt load thanks to taxpayers. So before they praise the private company, perhaps they should start telling the truth about why.
Toll Road’s Financial Strategy Working, Sandag Reports
San Diego Business Journal
Friday, July 5, 2013
The San Diego Association of Governments, the regional transportation planning agency, said reducing tolls on the state Route 125 toll road from Lemon Grove to the international border is working.
After one year of Sandag ownership, the road is seeing increased usage and meeting revenue targets established when Sandag acquired the 10-mile road.