Taxpayers in Metro Vancouver, including Langley and Ridge Meadows, are expected to be on the hook for another $33 million in costs for the Golden Ears Bridge this year, because fewer drivers than expected are using the region's first tolled crossing.
Revenues from tolls are projected to be about $37.9 million this year, substantially more than the $30 million collected in 2010. However, TransLink's payments to the bridge builder and operator increase to $71 million in 2011, from $52 million in 2010, and will rise again in 2012.
That adds up to a cumulative shortfall, since 2009, of $63.8 million for a bridge that was to pay for itself in 30 years.
TransLink spokesman Ken Hardie concedes the projected traffic on the Golden Ears Bridge has levelled off, partly because drivers are seeking "free alternatives" such as the Port Mann Bridge, even though they have to go out of their way to access it.
Ridership estimates going back to 2004 projected daily use of the bridge would be 29,400 vehicles in its first year.
However, in the first year they barely reached that level, then stalled.
Traffic volumes increased to between 28,000 and 29,000 per month by the fall of 2010, Hardie said.
"And then it seemed to plateau," he said.
Hardie said TransLink plans to launch a marketing campaign to get more people using the Golden Ears Bridge. Once the Port Mann is tolled, he said, people will probably realize the Golden Ears crossing is more efficient and convenient.
He wouldn't say what the marketing plan would entail, but TransLink said last year it was looking at options such as lowering tolls during certain times of the day to get more non-commuters - such as truckers and service providers - using the crossing.
"What we want to do is ensure the bridge is fulfilling its function in the transportation system," Hardie said, adding "We knew our contribution [to the Golden Ears Bridge] would be front-end loaded and we would be subsidizing while the toll revenue caught up."
TransLink's contract with the builder and operator runs over 30 years, Hardie said. The builder took on the almost $1 billion cost of building the six-lane bridge, which TransLink is to slowly pay back over three decades. Tolls mean much of that cost will not fall on taxpayers, even if the usage estimates miss their mark somewhat, Hardie said.
"There was no provincial or federal money in the bridge," Hardie said.
TransLink documents say the main monthly payment to Golden Crossing will increase from $3 million to $4 million in July 2011. The transportation authority is also on the hook for $166 million - up to $14 million a year - in direct financing costs for property acquisition, toll equipment, project development, and third-party commitments.
The Port Mann Bridge, which is being built by the provincial government to connect with its Gateway Project, will accommodate rapid bus service, expanded cycling and pedestrian lanes, and a possible light rail line. The tolls, to be in place for 40 years, will rise with inflation but will be capped at 2.5 per cent annually.
Meanwhile, TransLink is still searching for buyers for its two Albion ferries, which were shut down when the Golden Ears Bridge opened in the summer of 2009.
- Kelly Sinoski is a reporter with the Vancouver Sun
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