AGENDA DATE: 9/6/2023
TITLE:
Title
VDOT Revenue Sharing Program Applications
BODY
SUBJECT/PROPOSAL/REQUEST: Resolutions of Support for Three Final Application Submissions in the Virginia Department of Transportation's FY2024 Revenue Sharing Program
ITEM TYPE: Consent Action Item
STAFF CONTACT(S): Richardson, Rosenberg, Herrick, Filardo, McDermott, Hersh-Ballering
PRESENTER (S): Hersh-Ballering
LEGAL REVIEW: Yes
REVIEWED BY: Jeffrey B. Richardson
BACKGROUND: The Virginia Department of Transportation's (VDOT) Revenue Sharing program provides up to $10 million in state funding for local projects over the lifetime of the project. Successful Revenue Sharing applications require a 50% local match. Project costs that exceed $20 million are the responsibility of the locality.
Revenue Sharing project applications are sorted into one of four priority levels, with Priority 1 projects being most likely to receive funding. Priority 1 projects are those that have received funding in a previous round of Revenue Sharing.
VDOT accepts Revenue Sharing project applications in odd-numbered years. Pre-applications are submitted in June and final applications are submitted in early October. For each round of Revenue Sharing, a locality may request a total equal to or less than $10 million in state funds for any number of projects.
STRATEGIC PLAN: Infrastructure & Placemaking - Invest in infrastructure and amenities that create connection, opportunity, and well-being.
DISCUSSION: Albemarle County submitted five Revenue Sharing pre-applications in June 2023, requesting over $15 million in state funds. At the August 2, 2023 Board of Supervisors meeting, staff described all five pre-applications and noted that only a subset of those pre-applications could be submitted as final applications due to the $10 million request limit per round.
At that meeting, the Board determined that the Hydraulic Road & Lambs Lane Campus Improvements project and the Eastern ...
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