Governor Kaine Announces TPOF Loan to Speed Completion of Route 28 Interchanges in Loudoun, Fairfax

RICHMOND – Governor Timothy M. Kaine announced the award of a $25 million, interest- free loan from the Transportation Partnership Opportunity Fund to expedite work on the remaining four interchanges of the Route 28 Corridor Improvement program in Loudoun and Fairfax Counties. Governor Kaine first announced approval of the loan at the Dulles Area Transportation Association’s 20th Anniversary Dinner on May 10th.

“The Route 28 program is an example of a successful public-private partnership, leveraging resources to deliver improved transportation,” said Governor Kaine.  “This loan will jump-start completion of the remaining four interchanges.”

In September 2002, a comprehensive agreement was executed under the Public Private Transportation Act of 1995 between the Virginia Department of Transportation and Route 28 Corridor Improvements, LLC, to make improvements to six of ten interchanges along the corridor. Under the terms of that agreement, special taxes paid by commercial landowners have financed 75% of the cost of constructing grade-separated intersections to reduce congestion along the Route 28 corridor.  The taxes are levied at the request of area landowners.

“This loan is our recognition of the private investment that has been contributed by the businesses along this important economic corridor,” said Secretary of Transportation Pierce Homer.  “This one-time infusion will allow the state to continue to participate in this important partnership.”  

The interest-free loan from the Transportation Partnership Opportunity Fund will have a term of seven years. The Fund, established in 2005 through legislation sponsored by Dels. Leo Wardrup, Vince Callahan, and Thomas Rust,  provides loans and grants to encourage development of transportation projects through design-build and public-private partnership arrangements, specifically to address transportation projects associated with economic development opportunities.

 “This is great news for Loudoun County and for the entire region” said Loudoun County Board Chairman Scott York.  “Continued support from the state will be essential to improving transportation in Northern Virginia.”   

“The completion of the Route 28 corridor program is an important transportation objective for improving mobility in western Fairfax County and in the Dulles area,” said Fairfax County Board Chairman Gerry Connolly. 

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