The Metropolitan Transportation Commission is expected to ask today for an additional $32 million in bridge toll funds for its controversial headquarters relocation project.
Despite protests from politicians in the East Bay, the commission — which sets regionwide long-range transit policies — in 2011 approved a $167 million plan to purchase and renovate a former post office at 390 Main St. in San Francisco. By purchasing the building, the MTC planned to move from Oakland to San Francisco by 2014.
The price tag of the project is now estimated at $215 million. Unforeseen increases in tenant improvement costs, seismic retrofitting projects and consulting support fees contributed to the $48 million price expansion.
The agency will ask its governing body today to approve the new funding proposal, which includes increasing the contribution from bridge tolls from $109 million to $141 million.
Despite the high costs, the MTC expects to make nearly $50 million in profits over the next 30 years by renting space out to other tenants.