Navigating the Complex Journey of Owning a Toll Bridge in the USA

When considering the purchase of a toll bridge in the United States, one might initially think it's simply matter of acquiring a piece of property. In reality, the journey is much more intricate and laden with costs and responsibilities. This article aims to provide a comprehensive guide, highlighting the numerous challenges and costs associated with owning a toll bridge, based on firsthand experience and expert advice.

The Reality of Toll Bridge Ownership

Contrary to popular belief, outright ownership of a toll bridge in the USA is not as straightforward as it might seem. The reality is that bridges, whether toll or not, are typically paid for using tax dollars, meaning they are owned collectively by the public. This collective ownership model applies to all public infrastructures, including roads, parks, and rail stations. Therefore, when a bridge is put up for sale, it's more like an opportunity to operate and maintain the bridge rather than a traditional property acquisition.

The Challenge of Private Toll Bridge Ownership

While it is theoretically possible to own a private toll bridge on a public road, the costs and responsibilities are staggering. Unlike acquiring a typical real estate property, owning a toll bridge involves significant financial outlays and ongoing operational costs. These include:

? Steel Bridge Maintenance

Maintaining a steel bridge requires regular repainting to prevent corrosion. This process often involves the use of paints containing toxic heavy metals, necessitating the use of protective equipment for the maintenance crew. Environmental protections are also required to minimize the ecological impact of these paints, which can lead to significant fines if not adhered to.

? Regular Bridge Maintenance and Repair

Beyond painting, daily maintenance tasks such as snow and ice removal, ensuring proper drainage, and addressing water pooling on the road surface are critical. Additionally, the federal government mandates professional inspections of the bridge every 2 to 5 years at a substantial cost. This regular inspection is not optional but a legal requirement to ensure public safety.

? 24/7 Toll Collection and Staffing

The operation of a toll bridge necessitates staffing to handle toll collection 24/7, 365 days a year, with benefits and payroll management. To ensure compliance and transparency, an accountant is typically required to manage the financial records reliably. Such audits are common and often public records, adding another layer of scrutiny and responsibility.

? Accident Repairs and Legal Fees

Accidents that damage the bridge are the responsibility of the bridge owner. After such incidents, the owner would be required to repair the bridge and any adjoining approaches. In some cases, fines may be levied for improperly closing the road without prior arrangement with the entity that owns the bridge. Complex ‘commission arrangements’ often prevent owners from raising the toll without approval, which can significantly impact the bridge’s profitability.

? Bridge Replacement and Costs

At the end of a bridge's design life, typically around 100 years from the construction date or when the associated road is widened, or in cases of severe damage, the full cost of replacing the bridge must be borne by the owner. Building a small bridge, typically under 40 feet, can cost anywhere from $750,000 to $2,000,000. Larger, more complex bridges can run into the millions or even billions of dollars.

A Personal Perspective on Bridge Ownership

From personal experience, owning a toll bridge in the USA is a daunting task that requires substantial financial resources and an understanding of the legal and regulatory framework. During my tenure as a Project Manager for the local Department of Transportation (DOT), I personally facilitated the sale of a bridge to a local landowner. The sale price was set at $1, but the landowner was required to sign a comprehensive contract outlining all the aforementioned responsibilities and costs. Fortunately, the buyer was exceptionally wealthy and believed he could shoulder the financial burden.

Conclusion

While the idea of owning a toll bridge in the USA might seem alluring, it is important to approach this venture with a realistic perspective. The journey is fraught with challenges and demands a significant commitment of resources and legal compliance. Understanding these intricacies is crucial for anyone seriously considering this path.