posted on April 19, 2011 11:46
DRBA Schedules Public Hearings on Proposed Toll Increase
Necessity of Toll Increase; Critical Infrastructure Investments to be Discussed
(New Castle, DE) Today, Delaware River and Bay Authority (DRBA) officials announced the schedule for the public hearings to discuss the goals and objectives of a proposed toll increase and detail the critical infrastructure investments required at the bi-state agency’s crossing facilities, the Delaware Memorial Bridge and Cape May – Lewes Ferry.
What: The DRBA will hold public hearings in Delaware and New Jersey to inform our stakeholders concerning the goals and objectives of a toll increase at the Delaware Memorial Bridge, detail vital capital infrastructure investments at the Authority’s aging and heavily utilized crossing facilities, provide information on the proposed new rate structure, and solicit public comment.
Delaware: On Wednesday, April 27 at 7:00 p.m., a public hearing will take place on the main floor of the Vincent A. Julia Center adjacent to the Delaware Memorial Bridge Toll Plaza, conjunction of I-295 and U.S. Route 9 in New Castle.
New Jersey: On Thursday, April 28 at 7:00 p.m., a second public hearing will take place at the Salem Community College Davidow Performing Arts Theatre located in Davidow Hall 460 Hollywood Ave in Carneys Point Township.
Why: Revenue projections are insufficient to provide borrowing capacity or cash to finance necessary infrastructure investment projects. Without increased revenue from a toll increase, net revenues available for debt coverage will also be threatened, resulting in higher interest rates on debt. The following are some of the major capital projects planned at Delaware Memorial Bridge and Cape May – Lewes Ferry during the next several years: Phase IV of the I-295 Highway Improvements ($29 million); Painting and Structural Improvements on DMB ($28 million); Electronic Toll Collection Upgrades ($10 million); DMB Cable and Suspender Rope Inspection Program ($9 million); DMB Traffic Management System Replacement ($4.3 million); Dock Work and Replacement of Passenger Loader Tubes at the Cape May – Lewes Ferry ($15 million); and Roadway Rehabilitation and Safety Improvements ($5.5 million). Based on the current toll structure at the Delaware Memorial Bridge, future revenues will be inadequate for the Authority to fund the essential capital infrastructure needs of the agency’s crossing facilities.
PDF of Press Release