Fairfax County, Va. ––One of the first projects that could benefit from Gov. Robert F. McDonnell’s proposed statewide transportation plan is the Interstate 95/395 High Occupancy Toll lanes.
As part of the plan, among other things, McDonnell proposed this week issuing $3 billion (possibly up to $4 billion) in bonds to fund transportation in the state, as well as take a percentage from sales tax collected in Northern Virginia and putting it into a regional transportation account.
His current plan, as his he did during his 2009 campaign, identifies the I-95/395 HOT lanes as a priority project.
If approved, the companies currently building HOT lanes on the Virginia portion of the capital beltway, Texas-based Fluor, Inc. and Australia’s Transurban, will most likely close the deal for the new project within the next 90 days.
The governor’s office provided the numbers on the transportation plan, outlining what localities could see if his plan is approved in the General Assembly in Richmond.
Fairfax County $109 million, Prince William could see $177 million and Stafford could see $71.5 million.
While some legislators have voiced their opposition to issuing bonds for such high amounts, McDonnell says his plan will create new jobs and would represent the largest influx of transportation funding in the state in recent memory.
If the HOT lanes are constructed, they will replace HOV lanes on the highways and drivers could choose to pay a toll to use the lanes. Vehicles with three or more occupants will still be able to use the lanes for free.
