| The RMA newsroom serves as an information
source for working members of the media who have a professional
interest in the organization, its facilities and services or
history. The RMA public relations department hopes you find this
section of the website useful. Below are our latest news
releases and media advisories. In addition, a list of Frequently
Asked Questions (FAQs) are available for your review.
Any media visits to RMA facilities must
be authorized by the public relations department in advance.
For more information,
please contact:
Linda McElroy
Public Relations Manager
Richmond Metropolitan Authority
919 East Main St., Suite 600
Richmond, VA 23219
(804) 523-3300 Phone
(804) 523-3307 Direct Line
(804) 523-3330 Fax
April 6, 2012 --
Boulevard
“Nickel” Bridge to close overnight for general maintenance
The Boulevard “Nickel” Bridge will close
Monday, April 9, at 11p.m. until 5:30 a.m., Tuesday, April 10, for
general maintenance, including curb line sweeping and on-bridge
street light replacement. This maintenance is weather permitting.
Motorists should use alternate routes during this period.
March 26, 2012 -- Downtown
Expressway construction project to impact travel lanes for E-ZPass,
cash motorists
Motorists
traveling westbound on the Downtown Expressway will experience a
noticeable traffic shift next week as crews begin construction of
Open Road Tolling (ORT), also known as express lanes, in the center
lanes of the toll plaza.
Concrete Jersey
barriers will be placed to separate E-ZPass and cash motorists just
prior to the toll plaza approach. Customers with an E-ZPass will
travel in the far left lanes, while cash (exact change and full
service) customers will travel in the far right lanes. There will be
no cash option to the left after the designated decision point.
Signage will be in place to guide motorists to the appropriate
travel lanes.
A minimum of seven
lanes still will be available to motorists in the peak travel
direction. This temporary lane configuration is scheduled to end in
late summer.
The Downtown
Expressway ORT (express lanes) project is scheduled to be completed
in the early fall. This $14.5 million initiative will include
implementation of three, westbound express lanes, whereby E-ZPass
customers will be able to travel on the designated, barrier-free
thoroughfare at 45 mph. The lanes will make full use of new
technologies that electronic tolling has enabled in the last few
years, which customers currently experience on the Powhite Parkway.
Construction
involves canopy widening in both directions, the installation of
additional lanes on both sides of the roadway, demolition of a
portion of the toll plaza canopy, and
implementation of an ORT gantry.
Upon completion,
the project is expected to have similarly successful results as the
Powhite Parkway ORT project, including a reduction of evening
rush-hour back-ups, the elimination of reversible lanes and improved
air quality.
Oct. 25, 2011--RMA receives
new, upgraded bond ratings from the Big Three credit rating
agencies
-- Ratings come in conjunction with RMA
debt restructuring vote --
The Richmond Metropolitan Authority (RMA)
received new and upgraded bond ratings on its expressway revenue
refunding bonds, series 2011-D, from the Big Three credit rating
agencies -- Fitch Ratings, Moody’s Corporation and Standard & Poor’s
(S&P).
Moody’s Investors Service assigned the
RMA an initial, “A1 rating and a stable outlook,” based on
“the [RMA’s] multi-asset nature of the system; the predominantly
passenger and commuter traffic in a stable service area anchored by
the state capitol; …and strong liquidity and well-maintained
assets.”
S&P has rated the RMA an A+ -- a new
rating by the agency. “The rating reflects our view of a good
competitive position for local and commuter traffic,
strong historical liquidity levels and
good performance, good upward rate-setting flexibility, and
manageable capital needs that the [RMA] expects to undertake without
additional debt," said a S&P credit analyst.
The RMA received an upgraded “A-
rating, with a positive outlook,” from Fitch Ratings for the RMA’s
bonds. Previously, the rating was an “A- rating, with a stable
outlook.” According to Fitch, “The positive outlook reflects the
strong financial performance in fiscal years 2010 and 2011 and
Fitch's expectation that this performance will be maintained.”
The ratings from all three agencies
come in conjunction with a unanimous vote by the RMA Board of
Directors last week to approve a financial restructuring to pay a
$62.1 million debt to the City of Richmond for monies provided to
the RMA to fund debt service during the expressway’s formative years
between 1975 and 1991. Over the years, the original $22.7 million
subordinate obligation to the City has grown to $62.1 million,
including interest.
“The opportunity to pay the City for
the support it provided to establish the Expressway System is a
significant moment in the history of the Authority,” said Mike
Berry, RMA general manager. “The RMA board recognizes the benefit of
this transaction that ultimately is in the best interest of our
stakeholders and our customers.” Further, Berry noted that the debt
can be repaid without a toll increase or any impact on our
maintenance program.
The restructuring to pay the $62.1
million obligation to the City extends the maturity of bonded debt
from 2022 to 2041. The transaction will include two anticipated bond
issues in early November totaling $122.1 million. The RMA
anticipates outstanding debt of $188.4 million after the financing
is completed.
The RMA, created in 1966, is a regional
political subdivision which owns and operates toll facilities,
parking decks and The Diamond baseball stadium in central Virginia.
In addition, the organization operates Main Street Station, a
National Historic Landmark owned by the City of Richmond.
August 11, 2011 --
Downtown Expressway eastbound, wide-load lane to close for ORT
construction
The eastbound
full-service, wide-load lane on the Downtown Expressway will close
Monday, Aug. 15, after morning rush hour as part of the roadway’s
Open Road Tolling (ORT) construction project.
Wide-load vehicles
attempting to travel along the Downtown Expressway will be
redirected by traffic guidance signs prior to the Expressway/Powhite
Parkway split. The Virginia Department of Motor Vehicles, which
coordinates wide-load permit distribution, has been notified to
temporarily decline permits for travel through the toll plaza.
Two full-service
lanes will continue to be operational to accommodate eastbound,
morning rush-hour traffic.
The lane is
scheduled to reopen in spring 2012.
The Downtown
Expressway ORT (express lanes) project is scheduled to be completed
in early fall 2012. This $14.5 million initiative will include
implementation of three, westbound express lanes, whereby E-ZPass
customers will be able to travel on the designated, barrier-free
thoroughfare at 45 mph. The lanes will make full use of new
technologies that electronic tolling has enabled in the last few
years.
Construction will
involve canopy widening in both directions, the installation of
additional lanes on both sides of the roadway, demolition of a
portion of the toll plaza canopy, and
implementation of an ORT gantry.
Upon completion,
the project is expected to have similarly successful results as the
Powhite Parkway ORT project, including a reduction of rush-hour
back-ups, the elimination of reversible lanes and increased air
quality.
July 11, 2011 --
Downtown Expressway westbound, full-service lane to close for
ORT construction
The westbound,
wide-load travel lane at the Downtown Expressway Toll Plaza will
close Wednesday, July 13 at 9 a.m., as part of the Open Road Tolling
construction project. The lane is expected to reopen in early
spring.
Wide-load vehicles
traveling westbound along the Downtown Expressway from I-95 must
exit the Canal Street or Belvidere Street off-ramps before reaching
the toll plaza. Traffic guidance signs will be placed to reroute
wide-load drivers.
Two full-service
lanes will continue to be operational to accommodate westbound,
afternoon rush-hour traffic.
Motorists are
advised to use caution in the work zone as traffic shifts.
Click here for the
news archives
For more information,
please contact:
Linda McElroy
Public Relations Manager
Richmond Metropolitan Authority
919 East Main St., Suite 600
Richmond, VA 23219
(804) 523-3300 Phone
(804) 523-3307 Direct Line
(804) 523-3330 Fax
|