| RELEASE: CONTACT: |
IMMEDIATE Lynda South (804) 786-2715 Tamara.Neale@VDOT.Virginia.gov Tamara Neale (804) 786-6458 |
CO-0538 Aug. 26, 2005 |
VDOT SEEKS PRIVATE SECTOR INTEREST TO SPEED IMPROVEMENTS TO RT. 460 CONNECTOR
Funds from new “Transportation Opportunity Fund” could jump start project
RICHMOND – In a move to boost economic development in Southwest Virginia, the Virginia Department of Transportation (VDOT) is exploring ways to accelerate improvements to the U.S. 460 Virginia-Kentucky Connector in Buchanan County, including providing jump-start funds for a public-private venture.
The Route 460 Connector, a proposed four-lane highway, would enhance the transportation network in the area by improving access to Buchanan and Dickenson counties, as well as Breaks Interstate Park in Dickenson County. The Route 460 Connector is a vital segment of the Route 460 corridor and will link to Kentucky’s improved U.S. 460 as well as Virginia’s proposed Coalfields Expressway.
VDOT is seeking responses to a “Request for Information” from commercial enterprises, including the mineral recovery industries, to determine interest in a joint venture. It will then determine whether to solicit conceptual proposals under the Public-Private Transportation Act of 1995 (PPTA) or through other alternative contracting methods.
Acting Commonwealth Transportation Commissioner Greg Whirley said the Secretary of Transportation and the Secretary of Commerce and Trade have agreed that this project would be a strong candidate for a grant or loan of up to $1.5 million from the new state “Transportation Partnership Opportunity Fund”. The fund was proposed by Gov. Warner and earlier this year, the General Assembly approved a $50 million fund to provide seed money for promising public-private partnerships. Federal funds would pay for the majority of the estimated $210 million project.
“We’re particularly open to partnerships that include coal companies,” said Whirley. He said VDOT wants to explore the possibility of building the road along an alignment where coal can be mined and revenue from coal sales can offset the cost of building the road. In the process of mining coal, a coal company may be able to construct the rough grade as part of the mining operation.
The possible benefits of such an innovative partnership would include accelerating the construction process and reducing cost for VDOT, while at the same time helping the local economy grow by providing jobs.
A complete copy of the Request For Information can be viewed at http://www.virginiadot.org/business/rfi.asp. The deadline for accepting Statements of Interest is September 30, 2005.
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The Route 460 Connector, a proposed four-lane highway, would enhance the transportation network in the area by improving access to Buchanan and Dickenson counties, as well as Breaks Interstate Park in Dickenson County. The Route 460 Connector is a vital segment of the Route 460 corridor and will link to Kentucky’s improved U.S. 460 as well as Virginia’s proposed Coalfields Expressway.
VDOT is seeking responses to a “Request for Information” from commercial enterprises, including the mineral recovery industries, to determine interest in a joint venture. It will then determine whether to solicit conceptual proposals under the Public-Private Transportation Act of 1995 (PPTA) or through other alternative contracting methods.
Acting Commonwealth Transportation Commissioner Greg Whirley said the Secretary of Transportation and the Secretary of Commerce and Trade have agreed that this project would be a strong candidate for a grant or loan of up to $1.5 million from the new state “Transportation Partnership Opportunity Fund”. The fund was proposed by Gov. Warner and earlier this year, the General Assembly approved a $50 million fund to provide seed money for promising public-private partnerships. Federal funds would pay for the majority of the estimated $210 million project.
“We’re particularly open to partnerships that include coal companies,” said Whirley. He said VDOT wants to explore the possibility of building the road along an alignment where coal can be mined and revenue from coal sales can offset the cost of building the road. In the process of mining coal, a coal company may be able to construct the rough grade as part of the mining operation.
The possible benefits of such an innovative partnership would include accelerating the construction process and reducing cost for VDOT, while at the same time helping the local economy grow by providing jobs.
A complete copy of the Request For Information can be viewed at http://www.virginiadot.org/business/rfi.asp. The deadline for accepting Statements of Interest is September 30, 2005.
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Information in VDOT news releases was accurate at the time the release was published. For the most current information about projects or programs, please visit the project or program Web pages. You may find those by searching by keyword in the search Virginia DOT box above.
Page last modified: Aug. 28, 2008
