Monday, September 20, 2010

Finding the Money for Increasing Costs of the Dulles Metrorail Project

The Washington Examiner reports that building the second leg of the Metrorail system to Dulles Airport is expected to cost $3.83 billion, hundreds of millions of dollars more than expected -- and officials from cash-strapped local governments have little idea how to generate all that extra green.

"The price tag for the second phase of the Dulles Rail project, which stretches 11.5 miles from Reston to beyond Washington Dulles International Airport, is estimated to cost $1 billion more than the project's first phase, which is under construction, according to the project manager.

"The second phase is supposed to be financed with a combination of funds from Loudoun and Fairfax counties, Virginia, and proceeds from the Dulles Toll Road. But as county officials scramble to scrounge together taxpayer dollars, and the federal government stays mum on whether it will help foot the bill, the Dulles Rail may run out of track well short of the airport.

"Loudoun County Board Chairman Scott York said he was "very worried" about the new estimate, but said he would oppose another round of fare increases on the toll road."

Read the complete Examiner article.

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