New Proposal for the Dulles Toll Road
A group billing itself as "Dulles Express" has submitted a proposal under Virginia's Public-Private Partnership Act to buy the Dulles Toll Road. This proposal would provide a $5.7 billion benefit to the Commonwealth, the group asserts.
Said lead investor Franklin L. Haney: “We have the only plan on the table right now to add capacity to this critical transportation artery. Additional lanes, coupled with the investment in rail and other roads, and a guarantee of the long-term maintenance of the Dulles Toll Road, will bring desperately needed enhancements to the transportation network serving the Dulles corridor through a balanced, multimodal approach.”
From the press release:
The most significant aspect of the Dulles Express proposal is the addition of two new “Toll Express” lanes in both directions of the Dulles Toll Road to ease growing congestion. These new lanes will be financed by private equity and/or at-risk capital, thus shifting risk from government to the private sector in the spirit of the PPTA.
The team’s plan also provides: $267 million for the state’s share of the first phase of the extension of Metrorail to Dulles; up to $450 million for the second phase of Metrorail extension; and hundreds of millions to be used for improvements to the Dulles Toll Road and other transportation projects in the region. In addition, the team will assume all maintenance and operations costs for the expanded Dulles Toll Road and the Dulles Airport Access Road. The estimated cost of these items over the 50 year concession term is nearly $5.7 billion, funds that will not have to be expended by the Commonwealth if it chooses the Dulles Express team.
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