I-66 Project Terms Signal New P3 Approach for Virginia

The Daily Press reports, “Virginia jumped back into the public-private-partnership game in a major way [on November 3], announcing the expansion of a key commuter route just outside of Washington, D.C. Domino effects from the deal could free up funding for transportation projects around the state, including Hampton Roads, using a reworked ‘P3’ model. . . . The plan is for private financing and construction groups to widen I-66 . . . and charge tolls, uncapped by the state, on the new lanes for 50 years. In return, the consortium will pay all construction and maintenance costs . . ., make hundreds of millions in other upgrades along the corridor and cut the state a check next year for $500 million. . . .”