Abstract:
Everybody knows that the Greenway, the privately-owned extension of the Dulles Access Road into Loudoun County, has not been paved with greenbacks for its sponsors. Since its opening at
the end of September, 1995, the owners have been in seemingly constant refinancing negotiations
with creditors and state authorities. Early in Greenway’s life a planned increase of its one-way
toll from $1.75 to $2.00 was turned instead into a reduction to $1.00 for fear of driving down
already low vehicle usage. Since then the toll has been raised in increments only to $1.50 by the
end of last July. As late as March, 1997, revenue from tolls was sufficient only to cover operating expenses without reference to debt service.
