SAN FRANCISCO (KCBS)— Golden Gate Bridge District officials are making plans to cover an $87 million deficit over the next five years and one option may be a toll hike. Any increase is still in the planning stages and wouldn’t kick in until at least 2013.
In 2013, the District has a $75 million payout to help with the Doyle Drive construction project, plus a $100 million bill for seismic strengthening. All this is part of a projected $87 million deficit that could be offset by higher advertising revenue, shrinking federal grants, higher fares and possibly a toll hike.
KCBS’ Holly Quan Reports:
“With the new projections we will begin creating a new financial plan for the next few years to decide what actions have to be taken,” said district spokeswoman Mary Currie. “On that list is the possibility of a toll increase.”
Currie said that by fall of next year, the district will go to all electronic toll taking which will save money but also mean the ability to raise tolls by 50 cents instead of a whole dollar because it won’t be necessary to make change.
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