I was appointed by Governor Gregoire to the Tacoma Narrows Bridge Citizen’s Advisory Committee (CAC) in 2010, and would like to offer some insight as a committee member.
Fact: We need to find an additional $25 million in toll revenues for Fiscal 2013 (July 1, 2012-June 30, 2013). 40 percent of this increase is due to bonds coming due. This is one of ten bonds that were taken to construct the bridge because of the “just in time” construction and bond schedule, which saved taxpayers millions of dollars in interest. Also, the first installment of deferred sales tax is due next year (the agreement was to start paying the $57 million in sales tax over a span of 10 years working out to about $5.7 million per year). read more »