Driving over the Port Mann bridge is about to get a bit more expensive.
On Aug. 15 the Transportation Investment Corporation (TI Corp) will increase the toll rates for cars, pick-up trucks and SUVs from $3 per crossing to $3.15 to keep with the cost of operating and maintaining the bridge and repaying the debt.
"I understand nobody wants to see an increase, however at TI Corp we have a mandate and we have a responsibility to pay back the costs associated with the project, and we're on track to do that by 2050," said Irene Kerr, CEO of TI Corp, the Crown corporation established to oversee the Port Mann/Highway 1 Improvement Project.
Traffic on the new bridge declined steadily in 2014, with the number of motorists down every month except for December when compared to 2013 numbers. Early this year the TI Corp was projecting a debt of $3.61 billion.
But Kerr said traffic has been rebounding over the past seven months, with an approximately 5% increase compared to last year.
The new bridge opened in December 2012, when drivers paid an introductory toll of $1.50 per crossing that doubled about a year later. Next month's increase will be the first in about a year and a half, but Kerr would not say when drivers can expect any future increases, or whether it would be according to a pre-determined schedule.
"We work very closely with our partners, we are a public agency and the tolls are in place to pay back the costs associated with the project and we're on track to do that by 2050," Kerr said.
Port Coquitlam MLA Mike Farnworth said the increase is "further nickel-and-diming the public."
"If they wonder why they haven't been meeting their traffic targets on the bridge it's because of increases like this," said the NDP caucus house leader.
"People will look for other alternatives…so we're going to see the Pattullo bridge get more traffic…and that will be a toll bridge when that's completed even though the government said there would be a toll-free alternative."
The toll increases are as follows, with current prices in brackets:
• Small vehicles (car, pick-up, SUV): $3.15 ($3)
• Medium vehicles (car with trailer, cube van, motorhome): $6.30 ($6)
• Large vehicles (commercial truck, motorbus or large motorhome): $9.45 ($9)
• Motorcycle: $1.60 ($1.50)
[email protected]
@spayneTC
