VDOT members met earlier this month to discuss their plans to move on a toll project to fund improvements to the I-95 corridor. The plan would charge drivers a toll along the interstate between mile marker 126 (just south of Fredericksburg) to the North Carolina state line. VDOT released their findings on the state of this corridor and stated that 80% of the bridges on I-95 are over 40 years old, 72% of the pavement is in need of maintenance, and that by 2035, travel time is projected to increase by 40%! To remedy these problems over the next 25 years, VDOT projects costs would equal around $12.1 billion. Looking at the revenue per lane mile for transportation construction in Virginia, we’re running out of funding for these projects, and this is why these tolls have been proposed.
VDOT estimates the toll program could raise $50 million a year in revenue. If an agreement is reached, the tolls would be up and running in over a year from now.
The revenue from these tolls will be used to make pavement, structural, operational, capacity and safety improvements throughout the corridor. These funds cannot be used outside of I-95.
You can find more information about the project at http://www.virginiadot.org/projects/i-95_corridor_improvement.asp.