In a closed session Friday morning, the SANDAG board of directors voted to purchase the lease to operate the state Route 125 toll road for approximately $345 million.
Opened in 2007, the 10-mile toll road stretches from state Route 905 near the Otay Mesa Port of Entry north through eastern Chula Vista to state Route 54 near the Sweetwater Reservoir.
The board will hold a public hearing during which the details of the purchase and the financing options will be presented and voted on by the board and the public will have the opportunity to comment.
It costs $4 for a two-axle vehicle to drive the entire length of the South Bay Expressway, or $3.85 for vehicles with a FasTrak transponder, which pays the toll automatically.
Opened in November 2007, the toll road is owned by the state and was built by a private company, but has struggled with lower-than-expected traffic. In April, a judge approved a Chapter 11 reorganization plan with new debt amounts and structure, and South Bay Expressway LLC was created from the toll road’s creditors.