Virginia May Privatize for Road Funding, Building

Virginia Gov. Bob McDonnell (R) is proceeding with privatization plans in two transportation areas, funding the system and building a new toll road.

McDonnell released his privatization plan for the state-run liquor store system on Sept. 8, saying the auction of 1,000 liquor store licenses would generate $500 million for a transportation infrastructure bank to provide loans and grants for local highway projects.

On Sept. 9, the state announced that three financial consortiums have submitted proposals to build and operate a new U.S. Route 460 alignment under a public private partnership.

The 55-mile, four-lane highway would be built south of, but parallel to, the existing Route 460, which runs between Petersburg and Suffolk.