Gov. Bob McDonnell (R) announced today that he has approved borrowing nearly $500 million for statewide road and transportation projects that were part of a once-heralded 2007 package. McDonnell also directed the Department of Transportation to sell $293 million worth of bonds in fiscal year 2011 and another $300 million in each fiscal year from 2012 through 2016. The money will help fund projects across the state including two in Northern Virginia -- the Route 29 Gainesville Interchange on I-66 and the Dulles Metrorail project. "In these difficult economic times and with our mounting transportation needs in the Commonwealth, it is important to use every tool available to maximize funding options for our roads, bridges, rails, and public transportation,'' McDonnell said in a statement. The General Assembly passed the landmark transportation package in 2007 to pump $1.1 billion annually into transportation throughout Virginia with an emphasis on the state's two...
Washington Post Editors
April 30, 2010; 1:26 PM ET |
Categories: Construction , Metro , Silver Line , Transportation Politics , highways | Tags: bob mcdonnell, mcdonnell approves transportation bonds, virginia bond issue, virginia transportation bonds
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The Metrorail extension to Dulles International Airport|http://www.dullesmetro.com/stations/ and beyond is slated to receive $96 million in the next fiscal year in the federal budget proposal sent to Congress this week. The money is part of the federal "New Starts" program for transit projects across the country and highlighted by the Federal Transit Administration|http://www.fta.dot.gov/regional_offices_11123.html on Tuesday. The Silver Line sum is part of the $900 million commitment to the 23-mile rail line the federal government made in 2008. The Silver Line is one of 27 transit projects included in the FTA's $1.8 billion request, including $834.6 million for 19 new bus and rail construction projects. The first 11.7 miles of the Dulles line, which will stop at Wiehle Avenue in Reston, are expected to open in 2013, with the rest of the line opening in 2016. -- Lisa Rein...