Watchdog Group Recommends Up To $11 Toll For The New Bridge

NYACK, NY — In a report released Friday, a venerable New York fiscal watchdog group predicts the toll on the new bridge over the Tappan Zee may double. The basic $10 hit will be necessary to pay for the cost of the bridge's construction, said the Citizens Budget Commission. That's high, but less than everyone initially thought, and 2/3 the cost of the George Washington Bridge.

The report, titled "Bridging the Financial Gap," bases its conclusion on projected annual debt service costs to repay loans and bonds the Thruway Authority used to finance the construction costs of the bridge, which may reach $4 billion when the bridge is finished next year.

"Increasing the toll on the Cuomo Bridge is the most appropriate and equitable way to repay the loans and bonds used to build this bridge," said CBC President Carol Kellermann in a press release. "New York State and the Thruway Authority continue to avoid discussing what the new toll will be, and this report shows an increase is the best way to repay the debt."

According to the CBC, increases in tolls for passenger cars should look like this:

• For non-commuter passenger cars using E-ZPass, the toll would need to be $9.67 to $10.61.
• For those not using E-ZPass, the toll would be between $10.20 and $11.19.
• For local residents utilizing the Thruway Authority's commuter plan, the toll would be $6.74 to $7.45.

Perspective is important.

Despite being two times higher than current rates, this estimated toll level is still considerably less than the nearest alternative, the GWB, which has a toll of $15, the report pointed out.

The estimated toll is also less than projections made by the State in 2012, which suggested a toll of up to $14 for passenger cars. The reduction can be attributed to savings generated by the State's use of design-build contracting, and the use of cash reserves to pay $1 billion of the bridge's nearly $4 billion cost, researchers said.

Increasing the toll on the new Cuomo Bridge alone is the appropriate approach, and the new toll should cover all of the bridge’s debt and maintenance costs. The announced systemwide toll freeze runs through 2020, preventing the toll increase from coinciding with the functional completion of the bridge in 2018, when debt service will begin to be paid. Instead of allowing drivers to use the new bridge for three years before facing a toll increase, the freeze should be reconsidered and the Thruway Authority should increase tolls by the rate necessary to service the debt when the costs are payable. Even if the toll doubles, the Cuomo Bridge still represents a significant value relative to its alternative crossing, the George Washington Bridge.

Founded in 1932, the Citizens Budget Commission describes itself as "a nonpartisan, nonprofit civic organization whose mission is to achieve constructive change in the finances and services of New York City and New York State government."

The full report is available at www.cbcny.org/research.

PHOTO/ New York State Thruway Authority