May 9, 2002

The Finance Committee will meet on Thursday, May 9 (immediately following the Transportation Committee or at about 10:15 am) to set a date for a formal public hearing on a potential toll increase. This is a procedural matter before the Committee and there will be no other action taken with regard to potential toll increase.

The following outlines the status of the potential Golden Gate Bridge toll increase:

Feb. 7  

Planning Analysis

begins to evaluate potential impacts of 12 different toll options ranging from no increase up to $5.
March 7  

10-year Financial Need Assessment

shows a $1 billion shortfall for the cost of capital projects and cost to operate all services.
March 25,
April 3, 8

First round of informational public open house meetings held to share the 10-year Financial Needs Assessment with the public and seek early public input on 12 toll increases options included in the Planning Analysis. Dates for second round of information meetings set for June 3,4,5 and announced at the first round of meetings to inform the public of these meeting dates well in advance.

April 25  

Planning Analysis findings shows that a toll increase will provide revenue to help address the 10-year financial need and result in positive environmental impacts resulting from diversion of auto travel to transit and carpooling. A toll increase could be a financial hardship for some and a FasTrak discount could help mitigate this. Not raising the toll would likely necessitate major transit service reductions that would adversely affect the environment and could be a financial hardship for some transit riders.

$4 toll options would generate $10 - $15 million/year, $100 - $165 million over 10 years. $5 toll options would generate $25 - $30 million/ year, $250 - $310 million over 10 years. $3 toll option would result in a significant reduction in transit services, increases in transit fares, delay of needed capital projects, along with further cost reductions and new revenue enhancement programs.

The Financial Need Assessment and the findings of the Planning Analysis will be used to develop a Financial Plan. The Financial Plan narrows the financial forecast to a 3- to 5-year period for more precise financial forecasting. A multi-pronged approach is fundamental to sustaining existing District services as the Planning Analysis findings show that a toll increase alone will not provide sufficient funding to sustain services and capital projects.

The multi-pronged Financial Plan will include preliminary budget estimates that include a toll increase along with: 1) revenue generation options including transit fare increases, growth in government grant revenues; 2) cost saving opportunities, 3) prioritization of capital projects and deferral of non critical capital projects, 4) concepts for possible new revenue streams.

May 9   Set date for Public Hearing June 13 at 6 p.m. at the Marin City Community Center to hear public testimony on a potential toll increase.
May 9  

Review process and timeline for development of future transit fare increase program as one part of the financial solution.

May 23   Staff will present Financial Plan and staff recommendation to the Finance Committee.
June 3-5  

Hold second round of informational public open house meetings will be held from 4:30 pm to 7:30 pm as follows: Monday, June 3, San Rafael Community Center, 618 B St., San Rafael Tuesday, June 4, Kenilworth Jr. High, 998 E. Washington, Petaluma Wednesday, June 5, Fort Mason Center, Bldg. A, San Francisco

The purpose of this round of meetings is to present and discuss the staff recommendation regarding a potential toll increase. The findings of the Planning Analysis and Financial Plan will also be available for review and comment.

This is the public's opportunity to better understand what is being proposed and to discuss the proposal directly with staff prior to the formal public hearing.

June 13   Hold Public Hearing.
June 27   Possible consideration by the Finance Committee of a final toll increase recommendation.
June 28  

Possible action by Board of Directors on a final toll increase recommendation. Board action will also set an implementation date (no earlier than September 1).