High Occupancy Tolls in combination with exclusive express lanes have been proven to be a successful strategy to manage urban freeway corridors. The promise for improved travel time reliability in exchange for a toll has been successful because the tolling agency is able to manage the demands on the limited access facility through pricing of the managed lanes. By doing so, the agency provides benefits to the express lanes users. Applying the managed lanes strategies to the arterials is challenging because of various issues, including limited right of way, maintenance of driveway access to businesses, and other factors. This technical paper explores the concept of arterial managed lanes within the existing right of way, using the traffic signal priority function currently available in most signal system software. The preliminary results from the evaluation in a micro-simulation environment and a qualitative feasibility assessment for tolling this service are discussed along with recommendations for future study and implementation.