Republican Virginia Governor Robert McDonnell sketched in some details of his $4 billion plan to fund transportation improvements over the next three years, a plan he believes will “leverage” up to $6 billion worth of public-private partnerships, according to a statement from his office.
Two days later, he held a press conference in which he expanded on his transportation agenda and gave examples of some of the 900 road, railway and public transit projects he plans to fund.
Among them were “major public private partnership projects” such as the construction of a Midtown Tunnel tube in Norfolk, the construction of High Occupancy and Toll lanes on I-95/395, and the widening of 2.5 miles of the I-66 roadway, whose construction costs are projected at $90 million, according to the Virginia Department of Transportation website.
McDonnell outlined several ways in which those projects would be funded, including the privatisation of the state-owned Alcohol Beverage Council, which he said would bring in $300 million for the Transportation Infrastructure Bank.
McDonnell insisted he was committed to raising the $4 billion for transportation without raising taxes. He also emphasized that Virginia was “business friendly”, and that a “smart government” uses “free market as the greatest generator of wealth”, according to a transcript of his State of the Commonwealth address.