One problem with a plan by Virginia to partner with a private company to build a new Route 460 is the cost. Even allowing for rather high tolls it still requires that the State contribute half a billion to build the road a lot of money especially when the highway will be under private control that can change the tolls.
McDonnell insists the new road is vital to the safety of Southeast Virginia and to the future economic viability of the commonwealth as a whole. The current 460, a primary evacuation route for Hampton Roads, is not capable of handling mass evacuations ---too crowded to provide safe and efficient way to transport goods to and from Virginia’s ports. And as the state builds more port capacity in Portsmouth and warehousing in Suffolk the problems with congestion will only get worse. Apparently the Virginia Port Authority’s new board of directors understands what’s at stake. That board discussed this week a plan to contribute $5 million a year. They are talking $5 — up to $250 million — toward the project’s cost, starting in 2013, using funds it would have gotten from its share of the state’s Transportation Trust Fund. Members of the board are expected to discuss the matter in more detail at a meeting in October and vote on it in November.
Since there really is so much at stake for the Virginia Port Authority, buying in to the Route 460 project would be an appropriate move that would help ensure the long-term viability of the ports and of the businesses springing up to support them. And using money already earmarked for the ports to do so would help ensure that the project saddles Virginians with less debt. The new board of directors should approve the plan in November.
5 comments:
Question: And where does the port commission get its funding? Taxpayers and fees that are generated by other maritime related services, contractors, exporters and importers. vessel owners, truck owners, stevedores etc etc. The Port of Hampton Roads Commission is owned and operated by the state for profit.And rightfully it should be, but tax dollars play a major part in its generating "revenue".
Maybe Barclay would like to speak to the local folks who voted him on to council. He has a tendency to go mute on such matters including Centerpoint.
It's a chicken or an egg, which comes first scenario. As to the concept of a toll road one merely travels down Route 168 in Chesapeake to quickly realize the toll road is a boondoggle as residents and commercial traffic travel down the business route to avoid the expense. We should also not discount the importance and investment already made to the railroad extension to Portsmouth. This not overly complex issue has already been addressed in other ports around the country and world. So lets not let Virginia re-invent the wheel and instead see where it is working and build our port facilities from that basis point. Remember what the Japanese did in the 1950's when they visited our factories and take that lesson to heart.
Exactly who's money is being spent? Whether funding comes from fees and charges that are passed on to the consumer or from local, state and/or federal taxes, in the end it all comes out of the same pocket. Tell them to stop playing this shell game and tell the people the truth. Aren't you fed up with their BS or do we want to go deeper into debt?
If I remember correctly therfe were 3 private groups interested in bidding. I do belive that one with local concerns was formed within 72 hours of of the bidding process to begin. It was headed by a investors group based out of Richmond. I wonder if Barclay has a stake in this venture as well Does anybody else who lives in Suffolk have a miniority stake in this venture.
Is it possible the Johnson's have a interest, too? The power couple seems to have their fingers in many money projects.
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