The Virginia Biker Network » toll http://www.vabiker.net Virginia Motorcycle News and Information Wed, 09 Nov 2011 13:47:12 +0000 en hourly 1 http://wordpress.org/?v=3.2.1 New Virginia Toll Lanes Designed to Create Congestion http://www.vabiker.net/2008/07/new-virginia-toll-lanes-designed-to-create-congestion/ http://www.vabiker.net/2008/07/new-virginia-toll-lanes-designed-to-create-congestion/#comments Tue, 08 Jul 2008 22:38:00 +0000 Hersey http://www.vabiker.net/?p=173 Illegal political contributions helped an Australian firm land a lucrative toll road deal that grants the company unprecedented power over Northern Virginia’s transportation future. Last week, Transurban wrote and asked state lawmakers to return checks that the Melbourne-based toll road operator had written in violation of federal campaign laws. But the deal these contributions helped bring about has already been finalized.

In June, the US Department of Transportation created a first-of-its-kind $1.6 billion financing package that consisted of tax-free bonds, loans and state taxpayer grants to support the project that will add a pair of High Occupancy Toll (HOT) lanes to the Interstate 495 Capital Beltway just outside of Washington, DC. To this amount, Transurban only added $349 million of its own capital — less than the cost of interest — toward the construction of the toll lane.

Read the Full Story here…

Share on TwitterShare on TumblrSubmit to StumbleUpon
]]> http://www.vabiker.net/2008/07/new-virginia-toll-lanes-designed-to-create-congestion/feed/ 0