Saturday, January 22, 2011

Newspaper Reports Bleak Outlook for Second Phase of Silver Line

According to the Fairfax Times, projected toll rates for the Dulles Toll Road that were used to back bonds might not present the full picture, according to Fairfax County auditors.

In April 2010, the Metropolitan Washington Airports Authority commissioned a tolling study that projected toll rate increases that would be needed to support the $1.3 billion in bonds the airports authority issued in 2009 and 2010. The study also projected the amount of decreased traffic that would result from the tolling increases.

The toll-backed bonds are a primary funding source for the Dulles Metrorail extension, now under construction.

However, that study does not depict any decrease in the number of toll road users after the first segment of the new Silver Line opens at the end of 2013, according to a draft report from the county's Office of Financial and Program Audit. Fewer users could decrease the revenue projections.

Read the complete article.

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