The plan will use leftover money from past projects, and will not affect any future road projects already planned.
Elizabeth River Crossings says they are prepared to accept any toll rate change, as long as it doesn’t change the terms of their contract.
Here's a breakdown of what the tolling will be:
Starting Feb 1 2014:
Off-peak hours - $.75 cents
Peak hours - $1.00
Starting Jan 1 2015:
Off-peak hours - $1.00
Peak hours - $1.25
Starting Jan 1 2016:
Off-peak hours - $1.25
Peak hours - $1.50
2017 - Tolls will revert back to original amounts in the ERT plan.
Off-peak hours - $1.59
Peak hours - $1.84
Officials consider peak times 5:30 a.m. to 9:00 a.m. and 2:30 p.m. to 7:00 p.m. That accounts for eight hours of your day.
Trucks will get a break as well. They will be tolled at three times the two axle rate in off-peak hours and four times the axle rate during peak hours.
It will cost more than 82.5 million dollars to buy down the rates over the next three years. Secretary of Transportation, Aubrey Layne, says they will use $57.2 million dollars of left over transportation funds and $25.3 million dollars in extra bond revenue.