Tuesday, December 22, 2009

EDITORIAL: Toll bridge comes back to haunt Orange Beach | Press-Register Commentary - al.com

EDITORIAL: Toll bridge comes back to haunt Orange Beach | Press-Register Commentary - al.com: "IN 2003, Orange Beach agreed to sink $12 million into the Foley Beach Express toll bridge over 10 years in return for a cut of the fares.
At the time, the Press-Register editorial board questioned whether enough people would use the bridge to make the deal pay off for the city in the long run. 'Will the city’s cut of the toll revenues prove to be a lucrative source of revenue that, eventually, far surpasses the cost of its investment, or could the city have done better by putting the same $1.2 million a year into a savings account?' the board asked."