Matt Potter 12:30 p.m., Dec. 13
Drivers who have avoided the South Bay portion of SR125 because of costly tolls will be pleased to learn that the SANDAG board of directors will be voting on a toll reduction May 25.
An attachment to the agenda for that day states: "Key to the strategic acquisition of the State Route 125 (SR 125) franchise lease by SANDAG is the ability to divert traffic from Interstate 805 (I-805) onto SR 125. The primary strategy in achieving this goal is the reduction in toll rates."
Several options for toll adjustments will be considered. The ability to offer the reduction is attributed to reduced debt. The agenda attachment continues, "The Board of Directors amended the TransNet Extension Ordinance on March 23, 2012, reducing the debt related to the acquisition."
SANDAG acquired the toll road for $344.5 million on July 29, 2011. The company that formerly owned the road, South Bay Expressway LP, emerged from bankruptcy in April 2011.
More like this:
- Will Reduced Tolls Increase South Bay Expressway Riders? — June 13, 2012
- South Bay Expressway to Be Leased by SANDAG — Aug. 2, 2011
- Nine Miles of Nothing — Nov. 18, 2009
- You Can't Build Away Congestion — Dec. 12, 2002
- Octopus Devours Chula Vista — Oct. 10, 2002