VDOT Mulls PPP Options for $2-Billion U.S. 460 Project
The Virginia Dept. of Transportation is taking the “if at first you don’t succeed” approach to luring private-sector interest in its $2-billion U.S. Route 460 Improvements Project.
Unsatisfied with the response to its 2006 request for proposals to develop, construct and operate a 55-mi, four-lane toll road between Petersburg and Suffolk, the agency has issued a new solicitation that it says reflects “dramatically” changed market conditions, such as the absence of any federal or state funding contribution, and significant reductions in the agency’s staffing.