The federal government gave a preliminary OK for Virginia to impose tolls on motorists driving on I-95.
In a letter to the Virginia Department of Transportation, the Federal Highway Administration outlined parameters for the state to proceed with plans to place tolls on I-95 near the North Carolina border.
The amount of toll has not been determined, but the DOT estimates that the fees could generate $250 million in the first five years and more than $50 million in the following years — revenue the state must spend on repairing and improving I-95.
The majority of funding for the project will come from the federal government. Toll revenue will supplement any cost to the state, said Jeff Caldwell, spokesman for Gov. Bob McDonnell.
“This approval is a major step toward funding critical capacity and infrastructure improvements needed in this corridor. The commonwealth cannot continue to be a leader in economic development and job creation if we do not address our transportation needs,” McDonnell said in a statement.
The next phase is for the DOT to study where to place the tolls and outline short-term projects the revenue will go toward.
McDonnell first asked the feds for an I-95 toll in May 2010, shortly after he took office. With the new approval, plans to place tolls on Interstate 81 would be dropped.
