Reston Spring

Reston Spring
Reston Spring

Thursday, May 2, 2013

Silver Line Update: Partners Await Fed Loan Decision, Ashburn Patch, May 2, 2013

Supervisors in Loudoun are counting on saving from a federal loan; express desire to engage MWAA on airport development.

The most notable elements of a presentation Wednesday about the second phase of Metro’s Silver Line were news that the project appears to be nearing final approval for a federal loan that will save Loudoun millions and concerns about potential development on Dulles International Airport property.  . .
Most recently, the federal government requested $100,000 from the project partners – MWAA, Loudoun and Fairfax County – to pay for a review of financial records. Newquist said she expected the partners to complete their presentation to TIFIA administrators by the end of May and receive a decision by the end of the year. When supervisors expressed dismay at the uncertainty of a final approval date, County Administrator Tim Hemstreet said he believed the project was on track for TIFIA approval now that it had entered the “application phase.” . . 
During the discussion, Supervisor Matt Letourneau (R-Dulles) said he wants to make sure the county pays close attention and engages MWAA about its plans on the Dulles International Airport property.
“Certainly presentations were made by Mr. Potter that he would wish to work with the county in a cohesive manner to develop the property,” Letourneau said, referring to MWAA president and CEO Jack Potter. “But there is still the concern that MWAA could move forward on their property and develop large-scale commercial, which would be competing with what’s happening on county property.” . . .
Click here for the rest of this article.

Although this discusses TIFIA financing issues in Loudoun County, they also apply to Fairfax County where the County has agreed to pay 16.1% of the Silver Line's construction costs.  The big winners if the Silver Line project receives TIFIA financing will be Dulles Toll Road users who are now accountable for over half the line's construction costs.  TIFIA financing would substantially reduce the debt service costs and, therefore, toll increases in the years ahead.  But tolls will still go up substantially even with TIFIA financing.

We would also note that at least one Loudoun County Supervisor has the same concern the RCA Board of Directors has expressed about unfair competition from MWAA in developing its property near one of the Loudoun County Metrorail stations. 

No comments:

Post a Comment

Your comments are welcome and encouraged as long as they are relevant, constructive, and decent.