Role: Financial Consultant to Virginia DOT
The 495 Express Lanes Northern Extension is to extend the 495 Express Lanes by approximately 2.3 miles from the 495 and Dulles Toll Road interchange to the vicinity of the American Legion Bridge and Maryland line. PFAL was engaged by the Virginia Department of Transportation’s P3 office to assess the debt capacity of the anticipated toll revenue for the new express lanes. PFAL analyzed several different types of debt, including convention bond financing and TIFIA financing strategies.