Senators Jim Webb and Mark R. Warner today announced $20 million for Northern Virginia’s Interstate 95 High Occupancy-Toll (HOT) lanes project from the U.S. Department of Transportation’s (DOT) competitive Transportation Investment Generating Economic Recovery (TIGER) program.
“Since joining the Senate, I have consistently called for investment in infrastructure to ease gridlock and traffic congestion in Northern Virginia,” said Senator Webb. “The HOT lanes project will benefit commuters, enhance commerce, and demonstrate how the government can partner with the private-sector to address issues critical to our Commonwealth.”
“I am proud to announce that U.S. DOT came through with this federal assistance, which will help leverage significant private sector investment,” said Senator Warner. “The I-95 HOT lanes project will better connect Virginians to growing employment sites, including major military installations, while also creating much needed jobs. With the DC area ranked as the most congested in the country, this project is an important part of providing some relief and growing our economy.”
The $20 million TIGER award will aid a loan that will help finance construction of the HOT lanes project. Earlier this month, the Commonwealth of Virginia reached a tentative agreement with construction company Fluor-Transurban, which is expected to contribute $843 million of private funding to the venture.
The HOT lanes project will provide significant improvements to a 29 mile stretch of Interstate 95 from Edsall Road in Fairfax County to Garrisonville Road in Stafford County. Vehicles carrying three or more people will be allowed to use the HOT lanes without charge and other vehicles can access the lanes by paying tolls based on varying traffic levels. According to Virginia officials, construction could begin as early as next spring.