 |
|
|
|
 |
Cheers!
Governor’s Staff Recommends Investing ABC Privatization Funds in New Transportation Infrastructure Bank
Governor Bob McDonnell’s staff today recommended depositing the $500 million it estimates will be generated from the privatization of ABC stores in a new Virginia Transportation Infrastructure Bank (VTIB) that would make loans and grants to localities, transportation authorities, transit agencies and private entities for projects that reduce congestion and promote economic development.
Specifics include:
- VTIB would be capitalized solely with state funds. Funding would not be subject to federal regulation, which means lower costs and faster project delivery.
- Funds could be used for construction and maintenance of roads, bridges, public transit, passenger and freight rail and ports.
- VTIB financing will result in considerable savings over traditional private activity bonds.
- Bank resources would be supplemented by periodic year-end General Funds, General Assembly appropriations and “possible dedicated revenue streams.”
This proposal was presented today to the Simplification and Operations Committee of the Governor’s Commission on Government Reform and Restructuring, which is expected to review, revise and forward it to the full Reform Commission.
Click here to see presentations made at today’s Committee meeting and learn more about the VTIB and specifics regarding ABC privatization revenue estimates and procedures.
As part of today’s announcement, Governor McDonnell stated, “ABC privatization is one part of the overall solution to our transportation challenges. I look forward to working with Republicans and Democrats to privatize ABC, make government more efficient and improve our transportation system.”
Stay Tuned.
The Northern Virginia Transportation Alliance Sixth Annual
What You Need to Know About Transportation
Seminar and Social Hour
September 20, 2010
4:00 to 7:00 p.m.
Gannett Company, Inc.
Frank E. Gannett Auditorium
7950 Jones Branch Drive
McLean, Virginia 22107
(Registration begins at 4:00; Presentations begin at 4:30)
Featured Speakers
Virginia Transportation Secretary, Sean Connaughton
WMATA Interim General Manager, Richard Sarles
Virginia Railway Express CEO, Dale Zehner
Reservations:
To register online, click here.
|
|
|
|
|
|
|
 |
|
(Click on the Alliance Alert Archives button on the left for more Alliance reports on a variety of transportation topics)
- August 19, 2010 - "No One is Safe: Arlington County Board Sues Federal Worker"
- August 10, 2010 - "U.S. 15 to Approach I-81 Traffic Volumes by 2030"
- July 26, 2010 - "Exceptionally Hot Weekend, Exceptionally Good Air Quality"
- July 23, 2010 - "VSTP 2035 - Missing Links Remain Missing"
- July 21, 2010 - "Alliance Calls on Regional Planners to Identify Regional Priorities"
- July 8, 2010 - "Reform Comission's Work No Substitute for New Funding"
- July 8, 2010 - "Improving Air Quality is Everyone's Responsibility"
- June 30, 2010 - "No Code Reds Despite Heat Wave"
- June 25, 2010 - "Loudoun Supervisors Vote to Choke Key Dulles Airport Link"
- June 21, 2010 - "Uncivil Behavior"
- June 11, 2010 - "Arlington Politican Promotes '1984' Thinking"
- June 10, 2010 - "Don't Dumb Down Loudoun's CTP"
- June 2, 2010 - "Private Sector Calls on Arlington to Drop Lawsuit"
- May 21, 2010 - "Good News...for a Change"
- April 26, 2010 - "I-66 Gut- and Reality-Check"
- April 20, 2010 - "Major CLRP Cuts"
- March 24, 2010 - "Burbs Continue to Boom"
- March 18, 2010 - "Commonwealth to Issue $500 Million in Transportation Bonds"
- March 8, 2010 - "Beware Mother Nature's March Madness"
- February 24, 2010 - "The Drain Stopper"
- December 22, 2009 - "Ten Action Steps to Jump Start Transportation"
- December 18, 2009 - "Is Beijing's Past Washington's Future?"
- December 10, 2009 - "36 Cents"
- April 1, 2009 - "How We Still Travel Daily"
|
|
|
|
|
|
|
|
|
|
|
