NJ.com reports on how the Delaware River Port Authority (DRPA), the bistate agency that operates several bridges in metro Philadelphia, has managed to go twelve consecutive years without a toll rate hike. The agency expects a $2.8 million increase in revenue next year, in part based on “traffic recovering to a modest 92.5-93% of pre-COVID numbers.” Of greater significance, however, it has “steadily reduced its debt from $1.6 billion in 2013 to less than $1 billion. Refinancing bonds in 2022 saved $3.3 million. The authority isn’t planning to borrow money in 2024. [Its] $145.5 million capital budget will be financed from the general fund, budget documents said.” According to DRPA vice chair Jeffrey Nash, “We have strategically utilized pandemic relief dollars and programs, and over the last few years, we have been able to pay down our debt, refund debt, and cut debt service costs.”
