AGENDA DATE: 11/19/2025
TITLE:
Resolution to Participate in VDOT Transportation Partnership Opportunity Fund (TPOF) Boulders Road Extension
SUBJECT/PROPOSAL/REQUEST: Consider approving a Resolution to participate in VDOT Transportation Partnership Opportunity Fund (TPOF) for Boulders Road Extension
ITEM TYPE: Consent Action Item
STAFF CONTACT(S): Richardson, Herrick, Tevendale, Henry, Kilroy, Sumner, Bowman, Rakes
PRESENTER (S): N/A
LEGAL REVIEW: Yes
REVIEWED BY: Jeffrey B. Richardson
BACKGROUND: The Places29 Master Plan includes a future extension of Boulders Road from its current terminus to the intersection of Route 29 at Austin Drive, effectively turning that T-intersection into a 4-way intersection. Completing this road project is a critical path for the Rivanna Futures project.
STRATEGIC PLAN: Infrastructure & Placemaking - Invest in infrastructure and amenities that create connection, opportunity, and well-being.
DISCUSSION: The Governor of the Commonwealth of Virginia has a funding program for economic development projects that is available to localities for strategic economic opportunities. The program is administered by Virginia Department of Transportation (VDOT). In order to best serve the access needs of the future AstraZeneca manufacturing facilities that will be located at Rivanna Futures, Boulders Road will be extended to Route 29 at Austin Drive.
The resolution provided as Attachment A is required for Albemarle County to be able to receive a TPOF award and provides the County’s commitment of funds of up to $10 million and staff resources in order to administer the project using the design-build delivery method. The County’s financial obligation would include an in-kind contribution of the value of the right-of-way required for this roadway, which traverses the County’s Rivanna Futures property.
The Commonwealth Transportation Board is expected to approve a $20 million contribution to the project and AstraZeneca would provide the balance. The current estimate for this project is approximately $42 million, but designs continue to be refined - including an alternative structure for the stream crossing and a realignment that would reduce the overall length of the roadway.
BUDGET IMPACT: If awarded, the $10 million (including an in-kind contribution of $1.2 million for the value of right-of-way for the road) for the project is recommended to be funded by a) borrowed proceeds from a future bond issuance, and b) cash revenues from the Economic Development Fund, General Fund Reserve for Contingencies, and Economic Development Authority Fund. The cash revenues would provide for the cash-funded portion of the project cost and the anticipated debt service payments for the FY 26 - 30 Capital Improvement Program (CIP). Debt service for years beyond FY 30 would be planned in future CIPs. Staff would recommend an appropriation for the project at a future Board of Supervisors meeting.
RECOMMENDATION:
Recommendation
Staff recommends that the Board adopt the resolution attached to the staff report as Attachment A, approving the County’s participation in this TPOF project to extend Boulders Road.
ATTACHMENTS:
A - Resolution