The Dulles Greenway's holding company Toll Roads Investors Partnership II (TRIP2) $-billion of outstanding bonds have been downrated by Fitch from BBB- to BB+, reflecting what the rating firm says is high leverage, expected thin coverage of debt service and dependence for liquidity on increases in tolls beyond already high levels.
Possible congestion tolls on Hampton Roads VA bridge-tunnels as interim measure pending new crossing in 2020s
2013-04-18: Hampton Roads Transportation Planning Organization (HRTPO) officials are putting out the idea of congestion tolls on the I-64 Hampton Roads Bridge Tunnel (HRBT) and the I-664 Monitor Merrimack Bridge Tunnel (MMBT) to manage traffic. Chairman of the HRTPO Molly Ward and chief executive Dwight Farmer included the idea in a presentation to the state transportation board this week in a powerpoint slide (reproduced nearby.)
Transurban, operator of the 495 express toll lanes in the Capital Beltway in Northern Virginia had their first toll-free period this weekend as a promotion.
They're trying to get drivers to try out the lanes, which have had pretty light patronage since their start-up five months ago.
A complaint has been that the entries and exits are complicated to get the hang of.
The separate ramps for the express lanes provide different access and egress routes especially in the commercial Tysons center in the northern part of the facility.
Richmond Metropolitan Authority chairman Carlos Brown is moving to reconstitute the Virginia capital toller supporting legislation to split control between the city and the two major suburban counties it serves - Chesterfield and Henrico. At present the board comprises six City representatives to two each from the two counties (plus a state representative.)
The Authority was constituted in 1966 when the suburbs were a much lesser proportion of the metro area and the main project was the Downtown Expressway.
The last small part of the McDonnell administration's plan to use tolls to reconstruct I-95 south of Fredericksburg has been killed. Friday the state House passed a mammoth bill HB2313 containing the clause just before the end: "11. That no tolls shall be imposed or collected on Interstate 95 south of Fredericksburg pursuant to the Interstate System Reconstruction and Rehabilitation Pilot Program without the prior approval of the General Assembly."
The governor's office supports the bar on tolls, having negotiated tax increases instead.
Virginia Governor Bob McDonnell's plan to dump the gasoline tax and tolls (on I-95) and to substitute a 16% increase in the state sales tax was so way out it never got a serious hearing in the state legislature, let alone a vote.
In a humiliating fiasco his own party leaders have agreed instead of dumping the state's gasoline tax to increase it! The tax will rise by 5c to 22.5c and there will be some tinkering with general funds monies.
2013-02-04: Transurban, principal shareholder and operator of the 495 toll express lanes on the Capital Beltway has told shareholders in Melbourne Australia that initial traffic is below expectations and that adjustment to traffic patterns and motorist preferences will be required.
No-toll-increase groups are wising up to the doubletalk of opportunistic local pols! Republican state Delegate Joe May from the Leesburg area takes the prize for having it every which way gets him good press at the time.
Virginia Governor Bob McDonnell has told key legislators he's prepared to kill plans to toll southern I-95 in return for support for his plan to increase the state sales tax 16% and to increase motor registration fees to fund handouts to free or lossmaking transportation projects.
McDonnell also wants to abolish the state gasoline tax.
Neither the Declaration of Independence nor the US Constitution grant recognition to 'commonwealths' only to states. Virginia was described by the signers on 4 July 1776 as a state. There were initially thirteen "States of America," one of which was Virginia. The US Constitution of 17 September 1787 also only recognizes states which it also writes as States with a germanic capitalization of the noun. It contains no reference to any 'commonwealth.'
The founding fathers all signed as representatives of their 'states.'