Virginia Raises The Bar On I-66 P3

Teams that have been assembling during the past year to compete for the I-66 managed lanes toll concession in Virginia got a shock this month when Virginia DOT substantially increased the private risk in the 40-year DBFOM project. The draft term sheet dated June 2 caps the state’s contribution at $600 million, leaving at least $1.5 billion to be raised in nonrecourse debt and equity, maybe more.



About Bill Reinhardt

Editor of Public Works Financing newsletter
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