Toll Bridge Buyout: $500,000

Kip Moore, president of The Bridge Company, has told Fargo City Commissioners if Fargo and Moorhead want to buy-out the privately owned toll bridge it could cost a half million dollars.

 

 

 

 

Kip Moore, president of The Bridge Company, has told Fargo City Commissioners if Fargo and Moorhead want to buy-out the privately owned toll bridge it could cost a half million dollars.

The 25-year old contract The Bridge Company has with the two cities runs out June first.

The Moorhead City Council has already voted to buy the bridge, believing the debt is only about $71,000.

Moore says the outstanding debt includes $350,000 in administrative fees his company has never been able to collect.

Moore believes Moorhead is on the hook for those fees because it helped finance the bridge.

Fargo City Commissioners agreed to set up a special panel with representatives from cities who will sit down, determine outstanding debt on the bridge and then try to come up with a buyout price.

Moorhead has already voted to sue Moore and his company if a deal cannot be worked out.

(Photo Credit:  Valley News Live)

 

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