Metro is reporting they've sold 50,000 of the transponders that are required to use the newly-opened ExpressLanes, which allow single-occupant vehicles to use 11 miles of carpool lanes on the 110 for a fee (ExpressLanes are also coming to the 10 in January or February). At $40 per transponder, the transit agency is off to a good start. So, what will the agency do when all the toll money starts rolling in? "The one-year demonstration project for the Metro ExpressLanes is anticipated to generate between $18 and $20 million in toll revenue," Metro's Rick Jager tells us. "The money will go for the operation of the lanes (approximately $7-10 million a year) and the rest of the money generated has to be reinvested in transportation improvements along the corridors where it was generated. This can include more bus service on existing lines, improvements to the Metro Silver Line (busway), etc." Metro's already received $210 million from the feds for instituting the lanes; they used some of the excess funds to buy 59 new clean fuel buses that are already in service, mostly on the Silver Line. "Foothill Transit got new buses as well, as did Torrance Transit and Gardena Transit for expanded service along the Harbor Freeway and the San Bernardino Freeway," Jager says.
· 50K transponders issued so far; preparations underway to launch ExpressLanes on 10 freeway in early 2013 [The Source]
· Everything You Need to Know About New 110 and 10 Toll Lanes [Curbed LA]