Virginia

Voters in Virginia Beach, Va., are split almost evenly on a light rail proposal to appear on Tuesday's ballot that could generate up to $8.3 billion in real-estate development in the seacoast town.

Virginia will receive $1.65 billion from private partner that will finance and operate toll express lanes on I-66.

The next presidential administration needs to play a larger role in collaborating with local governments for infrastructure programs, a panel of state and local officials said this week.

A $3.3 billion project to expand a subsea tunnel system at Hampton Roads, Va., will be financed with a combination of bonds, toll revenue, and gas tax revenue under a plan approved a regional planning agency.

Virginia road planners will evaluate local requests for $9 billion of state funding.

Two groups submit acceptable financial plans for Virginia’s $2 billion P3 plan to expand I-66.

The Virginia Port Authority's credit ratings have been downgraded by S&P Global Ratings ahead of a planned bond sale that will restructure the authority's debt.

Virginia has the environmental clearance to go ahead with a highway project originally earmarked for P3 funding.

Sweet Briar College saw its revenue bonds upgraded four notches, although still within junk territory, because of efforts to keep the 114-year-old Virginia women's institution open.

S&P Global Ratings said it has lowered its general obligation rating on the city of Petersburg, Va. three notches to BB from BBB.

Virginia may take money from budgeted salaries and $378 million from reserves, said Gov. Terry McAuliffe, to tackle a portion of the $1.48 billion budget shortfall projected in fiscal years 2016 to 2018.

Southeast issuers sold $37.63 billion of municipal bonds in the first half of 2016, a decline of 10.9% from the same period last year, even as new money deals increased.

Disappointing public pension investment fund returns released recently by Maryland and Virginia may be representative of a more nationwide trend, pension experts warned.

Petersburg, Va., and Opa-locka, Fla., turned to their respective states for help resolving serious financial problems and both are getting professional help, although no state funding.

Virginia transportation officials plan to select a private partner by fall for the $2 billion I-66 toll lane project.

Federal FASTLANE grants totaling $800 million go to 18 road and rail projects aimed at easing congestion.

Virginia is seeking a $200 million federal grant to help fund its $1.4 billion Atlantic Gateway mobility effort.

Buena Vista, Va., was sued by bond insurer ACA Financial Guarantee Corp., which says the city breached its forbearance agreement and stopped making “moral obligation” payments on bonds issued to construct a golf course.

Virginia’s Commonwealth Transportation Board used objective criteria to develop a six-year, $14.4 billion transportation plan.

Virginia plans to borrow $2.24 billion to finance a wide variety of state and higher education projects, according to a bill signed by Gov. Terry McAuliffe on Friday.