Possible exit fee cut on 73 Toll Road to be discussed

Newport Beach and transportation officials on Wednesday will discuss the possibility of decreasing or eliminating the exit fee on the 73 Toll Road at Newport Coast Drive.

It will be the topic of a Speak Up Newport meeting at 6 p.m. in the Civic Center Community Room at 100 Civic Center Drive, Newport Beach.

In October, the San Joaquin Hills Transportation Corridor Agency refinanced $1.4 billion of its $2.2 billion in outstanding debt issued to fund construction of the toll road, which was completed in 1996. Though the action improves the highway’s bottom line through lower interest rates, motorists will have to pay tolls for a longer time to retire the debt, according to the agency.

However, the refinancing also protects the agency’s credit rating and reduces pressure to increase tolls, which means that for the first time officials have the option to adjust fees, said Rush Hill, a former Newport Beach mayor and agency board member.

Previously, toll road rates were set annually by outside consultants, Hill said.

“The board now has the authority to set tolls at different rates,” he said.

At $3.26, the fee to exit the toll road at Newport Coast Drive is higher than any other toll on the 73, according to the Transportation Corridor Agency website.

Residents say that sends drivers off the highway and onto Newport Beach’s already congested streets.

However, Hill said reducing the fee could be challenging since Newport Beach has one vote on a board of 15.

“It’s going to be an uphill battle,” he said.