Cape Coral tolls: Where does the money go?
CAPE CORAL, Fla. It’s a $2 daily expense for commuters from Cape Coral to Fort Myers.
Tolls collected at the Midpoint Memorial and Cape Coral bridges added up to $37 million in revenue for Lee County at the end of 2016. That money was used for Midpoint Bridge improvements, an extension to Veterans Parkway and the widening of Burnt Store Road.
Lee County reserved $25 million of the balance for transportation work over the next four years, while the remaining $12 million is for projects farther into the future.
“When those projects come along, we’ll be able to pay cash for part of it, which is going to reduce the amount of the bonding, reduce the amount of the debt, and that’s always a good thing,” City Council member Rick Williams said.
The widening of Burnt Store Road has already cost $15 million, but the total cost is estimated to hit $86 million.
Long-range projects include building another span for the Cape Coral Bridge, Williams said.
Council members requested quarterly reports from the county on toll revenue and what the money is being put toward to better track spending.