Difference between revisions of "VDOT revenue sharing"

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m (moved VDOT Revenue Sharing to VDOT revenue sharing: it's how it appears most often in text, not sure of official designation if one exists.)
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Revision as of 14:16, 11 January 2010

Both Charlottesville and Albemarle County participate in VDOT's Revenue Sharing Program, which is administered by VDOT under the authority of Section 33.1-23.05 of the Code of Virginia.

The program provides additional funding for use by a county, city, or town to construct or improve the highway systems within that jurisdiction, with statutory limitations on the amount of state funds authorized per locality. Funds can also be requested for eligible additions in certain counties of the Commonwealth. Locality funds are matched with state funds for qualifying projects. An annual allocation of funds for this program is designated by the Commonwealth Transportation Board.[1]

Application for program funding must be made by resolution of the governing body. Towns not maintaining their own streets must have their requests included in the application of the county in which they are located. Project administration may be accomplished by VDOT, or by the locality under an agreement with VDOT

Local funds received

The City of Charlottesville received $1,000,000 in FY07-08 after contributing $1,500,000 as a match to help pay for adding an extra lane and second lamp on southbound Route 29 onto the eastbound Route 250 bypass.

Albemarle County received $1,000,000 in FY07 after contributing $1,500,000 as a match to pay down the balance required for its share of the Meadowcreek Parkway[2].

In FY08, the Board of Supervisors has applied for an additional $1,000,000 in revenue sharing to pay for cover the Parkway's cost increase to $30.6 million[3].

External Links

Notes