With the tolls on the Narrows Bridge going up a couple months ago, I wanted to do a little research on when the bridge will be paid for. I looked around a lot of different sites and gathered info from them and this is what I found.
1. The bridge cost 690 million to build.
2. The interest rate on it is 5.85%.
3. The annual expenses of the bridge excluding payments are around 11 million a year.
4. It grossed 63 million last year meaning it profited 52 million excluding loan payments.
5. There is not an exact number on how long the loan I could find but it appears as if the it is structured until 2030.
6. That means a total of 1.25 billion will be paid for the bridge. Principal + interest.
7. We have paid off around 350-400 million.
8. We still owe 850 million on it.
9. With the toll raise today the bridge will make a projected 66 million over the next 12 months.
10. In the 12 months after it should make 73 million.
11.The toll will get up to $6 in 2016.
12. When the toll hits $6 it should make $80 million.
13. In 3 years we will owe 630 million.
14. At 80 million a year it will take a little under 8 years to pay it off.
15. If you add the 3 years plus the 8, the bridge should be paid off around 2025/2026.
That is about all I could find. If you have other information please let me know.