Silver Line (Washington Metro) - Financing

Financing

Although the original financing plan called for a 50-cent toll increase on the Dulles Toll Road to finance the Silver Line (25 cents at the main plaza and 25 cents at the ramp plazas), the increase in projected costs resulted in the MWAA Board approving an increase in the surcharges. Effective January 1, 2010, the fare surcharge was increased to 50 cents at both the main plaza and ramp plazas, with additional 25-cent increases in main-plaza tolls set for 2011 and 2012. These toll surcharges are designed to support MWAA's 52.6% share of the projected $5.25 billion combined cost of Phase I and Phase II. MWAA has justified these toll increases as necessary to meet an estimated $220 million in annual debt-service costs projected by 2020. These toll revenue requirements were based on the assumption that the federal government, although it contributed $900 million to Phase I, would not contribute funds for Phase II.

As a result of the surcharge increases, the toll in 2012 will be $2.25, or 16 cents per mile. The toll increase proposal drew 221 public comments, and opponents outnumbered supporters by about 3 to 1. However, as the cost estimate grew from $5.25 billion to $6.8 billion, no final decisions have been reached to address the projected shortfall.