Toll road operator Transurban will fund the Inner City Bypass upgrade and take over ongoing maintenance and operation of the road in return for increased tolls on existing Brisbane toll roads.
The agreement between Brisbane City Council and Transurban, subject to state government approval, would see heavy vehicle tolls for the Clem7 and Go Between Bridge increase from 2.65 times the car tolls to three times the car tolls from July 1 next year.
Legacy Way would follow suit on July 1, 2020, at the same time as car tolls for tunnel users also increased.
Lord Mayor Graham Quirk said the agreement would save ratepayers more than $54 million, meaning the ICB upgrade would be delivered with just $3-4 million from the council's budget.
Transurban Queensland general manager Wes Ballantine said the agreement, believed to be the first of its kind in Australia, would not see a toll introduced to the ICB.
More to come …
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