Only Two Words Suffice: Holy Moly! Make that Three Words: Holy Friggin’ Moly!

midtown_tunnelPortsmouth Circuit Court Judge James A. Cales Jr. ruled Wedesday that the state’s $2.1 billion public-private partnership deal for the Downtown-Midtown Tunnel project is unconstitutional. Reports the Virginian-Pilot:

Cales said in his ruling that the General Assembly exceeded its authority in giving VDOT “unfettered power” to set toll rates under the 1995 Public-Private Transportation Act. The decision was a blow for Gov. Bob McDonnell and Attorney General Ken Cuccinelli, whose office defended VDOT against the lawsuit.

The ruling surely will be appealed to higher courts. If upheld, it would threaten the state’s ability to use public-private partnerships to build major transportation projects and, according to attorney Patrick McSweeney, it could hurt the state’s credit rating. McSweeney led the successful campaign several years ago to create regional transportation taxing authorities and participated in a legal bid to derail the Rail-to-Dulles project.

The McDonnell administration will seek a stay from either Cales or the Virginia Supreme Court, allowing work on the project to continue. Elizabeth River Crossings has spent $348 million on the project so far, as of March 31.

Bacon’s bottom line: Holy friggin’ moly!

— JAB