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IMMEDIATE Tamara Neale 804-786-6458 Tamara.Neale@VDOT.Virginia.gov |
CO-news06 Feb. 14, 2006 |
VDOT CALLS FOR PRIVATE SECTOR PROPOSALS TO BUILD NEW U.S. ROUTE 460
VDOT seeks private funds to build new east-west transportation link from Petersburg to Suffolk
RICHMOND, February 14, 2006 – The Virginia Department of Transportation (VDOT) opened the gates today for private sector competition and investment to build a new Route 460 that would extend 55 miles from I-295 in Petersburg to Route 58 in Suffolk. The new four-lane divided highway would be built south of the existing road, with nine interchanges at towns and major secondary roads.
“VDOT is opening the field for competition to get the best deal possible for improving mobility on one of Virginia’s most vital transportation links for motorists and commerce,” said Acting VDOT Commissioner Gregory A. Whirley. “This project is part of VDOT’s overall commitment to seeking private funding and tolling as ways to meet our long term infrastructure needs.”
VDOT is soliciting conceptual proposals from private entities to build the new east-west transportation link under the Public Private Transportation Act (PPTA). The PPTA allows VDOT to partner with the private sector to build roads more efficiently.
The new road would be supported totally or substantially by private investments, user fees - including tolls - or other innovative financing methods. Presently there are no public funds programmed to support this project.
VDOT also encourages private entities to explore the potential of locally supported economic development opportunities to generate revenues to fund the project. Cost estimates for the project at this preliminary stage are approximately $500 million to $700 million.
As VDOT solicits for private sector proposals, environmental review of the new Route 460 location is in its final stages. Last November, the Commonwealth Transportation Board (CTB) opted for alternative 1 with further study of a minor alignment shift in Isle of Wight County. The alignment shift would reduce the effect on homes but would have a greater effect on farm land. The Final Environment Impact Statement is scheduled for completion this summer. That would be followed by a Record of Decision by the Federal Highway Administration.
The CTB also directed VDOT to solicit private sector proposals under the PPTA. In 2003, the General Assembly passed a law requiring VDOT to issue a PPTA solicitation within 90 days of the CTB’s selection of the road alignment. By issuing the solicitation today, VDOT meets the General Assembly’s deadline.
Private sector proposals are due June 14, 2006. Should the process move forward, VDOT’s commissioner could sign an interim or comprehensive agreement with the private sector in June 2008. During the review process, there will be opportunity for the public and local governments to share comments. The beginning of construction would be dependent upon the terms in the interim or comprehensive agreement.
For more information go to www.VirginiaDOT.org.
The direct link to the Route 460 solicitation for PPTA proposals is http://www.virginiadot.org/business/ppta-rfp.asp.
“VDOT is opening the field for competition to get the best deal possible for improving mobility on one of Virginia’s most vital transportation links for motorists and commerce,” said Acting VDOT Commissioner Gregory A. Whirley. “This project is part of VDOT’s overall commitment to seeking private funding and tolling as ways to meet our long term infrastructure needs.”
VDOT is soliciting conceptual proposals from private entities to build the new east-west transportation link under the Public Private Transportation Act (PPTA). The PPTA allows VDOT to partner with the private sector to build roads more efficiently.
The new road would be supported totally or substantially by private investments, user fees - including tolls - or other innovative financing methods. Presently there are no public funds programmed to support this project.
VDOT also encourages private entities to explore the potential of locally supported economic development opportunities to generate revenues to fund the project. Cost estimates for the project at this preliminary stage are approximately $500 million to $700 million.
As VDOT solicits for private sector proposals, environmental review of the new Route 460 location is in its final stages. Last November, the Commonwealth Transportation Board (CTB) opted for alternative 1 with further study of a minor alignment shift in Isle of Wight County. The alignment shift would reduce the effect on homes but would have a greater effect on farm land. The Final Environment Impact Statement is scheduled for completion this summer. That would be followed by a Record of Decision by the Federal Highway Administration.
The CTB also directed VDOT to solicit private sector proposals under the PPTA. In 2003, the General Assembly passed a law requiring VDOT to issue a PPTA solicitation within 90 days of the CTB’s selection of the road alignment. By issuing the solicitation today, VDOT meets the General Assembly’s deadline.
Private sector proposals are due June 14, 2006. Should the process move forward, VDOT’s commissioner could sign an interim or comprehensive agreement with the private sector in June 2008. During the review process, there will be opportunity for the public and local governments to share comments. The beginning of construction would be dependent upon the terms in the interim or comprehensive agreement.
For more information go to www.VirginiaDOT.org.
The direct link to the Route 460 solicitation for PPTA proposals is http://www.virginiadot.org/business/ppta-rfp.asp.
Page last modified: Feb. 14, 2006
