LOUISVILLE, Ky. (WHAS11) -- Kentucky transportation officials met in Frankfort on Friday to review an investment grade study that predicts how much toll revenue would be necessary to fund their share of the project. The initial targeted tolls are assumed to be able to support the financing.
It will cost $10 for a heavy truck, $5 for a medium truck, $2 for vehicles with a transponder and $1 for a frequent commuter who makes 20 round trips a month. Vehicles that are registered to cross the bridge, but don’t have a transponder will pay $3 and non-registered vehicles will pay $4. Those without a transponder have to pay more because of the added cost to capture an image of the vehicle and send an invoice to the driver. There is also room for error incorporated into the study; for example, if a bad image is taken or if a driven simply chooses not to pay their invoice.
“It could be, at some point, when someone shows up to register their vehicle that there could be a list of owed toll charges that they will have to confront at that moment,” Mike Hancock, KYTC Secretary, said.
There is also some urgency to set the tolls.
“We're trying to take advantage of the interest rates as they exist today for the loans for the toll revenue bonds,” Hancock said.
The tolling body will meet next Thursday with hopes to pass a resolution that will formally set the rates.
In a report revealed earlier this week, Kentucky and Indiana will create a state-of-the-art electric tolling system to be used on the new crossings.