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In addition to the issues David raised, I fear that we will be footing most of the bill on the HOT lanes. Gov McDonnell's borrow and spend transportation package (SB1446/HB2527) borrows $3 billion and creates a $1.5 billion fund for PPTA projects. I think he expects to put far more of our tax dollars into each PPTA project. On top of this his proposed Virginia Transportation Infrastructure Bank is designed to give 2-3 percent interest loans to private toll road builders. Yet, Sec Connaughton said that the investment return for the PPTA consortia is at least 14 percent. The upfront cash and the very low interest loans are on top of the 75 years worth of toll revenues granted to the companies. And to make matters worse, they propose taking revenues from education, public safety and other programs along with VDOT maintenance funds (the "audit") to capitalize the bank.

by Stewart Schwartz on Feb 15, 2011 4:55 pm • linkreport

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