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City staff propose higher discount fees and changes to toll-by-plate to shore up bond coverage
Summary
City staff recommended raising the Chesapeake Expressway discount enrollment fee by 75%, increasing discount weekend fares, moving Dominion Boulevard toll-by-plate charges to a 3× E‑ZPass multiplier, and extending adopted toll schedules by 10 years to restore coverage toward a 1.2x bond covenant; council asked for more resident data but took no action.
City transportation staff presented a package of proposed toll schedule changes intended to strengthen the Chesapeake Toll System’s long-term finances and maintain compliance with bond covenants. The measures include a 75% increase to the Expressway discount enrollment fee (from $40 to $70 per year for a two-axle vehicle), raising the discount program’s peak‑weekend fare, shifting the Dominion Boulevard toll‑by‑plate premium from a fixed $2 up to a rate equal to three times the E‑ZPass fare, and extending the adopted toll schedule by an additional 10 years.
Staff said the proposals are designed to protect the system’s coverage covenant for bondholders and maintain positive credit ratings. “Net revenues plus investment earnings were…
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