dulles toll road
Metropolitan Washington Airports Authority (MWAA) operators of the Dulles Toll Road in Northern Virginia have decided against building $34m of foundations for future air rights development over the toll road in Reston. The huge excess of office space in the Dulles Corridor plus plentiful land for new development make it unlikely air rights will be taken up in the next twenty years, a report concludes.
The Metro Washington Airports Authority (MWAA) has been raking in the toll revenues on the Dulles Toll Road since they took it over from Virginia DOT in November 2008. After a major toll increase Jan 1, 2010 eleven months revenues in 2010 have been $81.2m vs $59.8m in the same 11 months of 2009. That's a rise of 36% and about an annual $88m.
Chief Financial Officer at the Metropolitan Washington Airports Authority E Lynn Hampton will become Interim President and CEO from May 9 when James E Bennett retires from the position.
Legislation is moving through the Virginia legislature to provide authority for an unusual violation system for the Dulles Toll Road. HB1295 sponsored by northern Virginia delegate Tom Rust (Repub, Herndon) provides for a "photo monitoring or automatic vehicle identification system at locations along the Dulles (Airport) Access Road" to improve enforcement of regulations prohibiting use of the road except for airport business.
Typical tolls on the Dulles Toll Road in northern Virginia rose from $1.25 to $1.75 or 40% this morning (Friday Jan 1). This is the first of three annual toll increases aimed to raise tolls 80% by 2012 that were formally adopted by the toll operator - Metropolitan Washington Airports Authority (MWAA) - last year.
Bond Buyer news gave their "Deal of the Year Award" to Metropolitan Washington Airports Authority (MWAA) for using the revenues of the Dulles Toll Road to bond a metrorail transit line out to the airport and beyond into sparsely settled Loudoun County.
Virginia DOT was planning to use an existing contract with TransCore to implement about $54m of toll system upgrades to bring open road tolling (ORT) to the Dulles Toll Road in the Washington DC metro area. However a spokesman for the new DTR owners, Metropolitan Washington Airports Authority (MWAA) says they have the option to issue an open Request For Proposals to compete the project.
Dulles Toll Road has been put in for $44.1m of stimulus (aka ARRA TIGER) grants from the federal government to fund full open road tolling by its new operator Metropolitan Washington Airports Authority (MWAA).
There are solid arguments that financing of a new rail line in the median of Dulles Toll Road with toll revenues is bad public policy. The area of northern Virginia beyond Tysons Corner is predominantly automobile-country with dispersed workplaces, and suburban houses. And it's prosperous enough for every adult to own their car.
Washington Metropolitan Airports Authority (WMAA) will proceed with a phased-in option of toll increases proposed by staff. The board voted today to go with a plan that would raise tolls at the mainline plaza 25c/year over the next three years: 75c, $1.00, $1.25 and $1.50. Ramp tolls would go up 25c to 75c and remain at that level. The first toll increases are likely early 2010.