I-66 Study Details Please
“Smart, transparent and efficient transportation policy is an underpinning of a healthy economy – and no one understands that better than Gov. Terry McAuliffe.”
-VA Transportation Secretary Aubrey Layne, Op-Ed Richmond Times-Dispatch, 3/14/15
From the outset, Governor McAuliffe has stressed the importance of transparency in transportation planning.
Last week Transportation Secretary Aubrey Layne presented a summary of an analysis that claims Virginia might save as much as $1 billion on the $2.1 billion project over the next 40 years by keeping the project under state control rather than doing a public-private partnership. You can view the presentation here.
The Alliance commends the McAuliffe administration for taking the initiative to get the best I-66 improvements at the best cost, and for its commitment to saving taxpayers money.
But with that initiative and commitment also comes the all-important responsibility to release the entire study and share the details and methodology upon which this “financial analysis” is based.
The summary released of the VDOT study leaves many questions that require answers, such as:
- The basis and methodology for the $1 billion savings calculation?
- Assumed breakdown of assumed available federal, state and Northern Virginia Transportation Authority revenues?
- The basis of claim that this $2.1 billion proposal may not impact state debt capacity?
- Maintenance and transit assumptions and allowances?
- Back up funding sources/taxpayer consequences if toll revenue projections come up short?
Given the I-66 Outside the Beltway project’s importance it is critical that public officials, potential private sector bidders and the public understand fully the basis behind the VDOT study suggesting a state managed project will result in the best deal for the taxpayer.
Release of the Entire I-66 Study is
Consistent with Governor McAuliffe’s Transparency Commitment