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Virginia’s Final Six-Year Transportation Program Approved
July 11, 2008
Virginia’s Commonwealth Transportation Board (CTB) has approved a $10.1-billion six-year transportation funding program for public transportation, rail and highway projects for the next six fiscal years, beginning July 1. The program reflects significant reductions stemming from a $1.1 billion funding shortfall over the next six years.
The Fiscal Years 2009-2014 Six-Year Improvement Program commits $7.9 billion for highway construction and $2.2 billion for public transportation and rail over the next six years. There are 2,288 individual line items in the program representing safety, bridge, maintenance and operations, transit, construction and rail projects.
A slowing economy, shrinking revenues and increased maintenance costs required the commonwealth to impact nearly 600 projects statewide, including those that were in previous six-year programs, projects under consideration by the Northern Virginia and Hampton Roads transportation authorities and candidate projects shared in a series of public meetings last fall for possible inclusion in the program. Lists of projects delayed or removed from the program are posted on the Virginia Department of Transportation web site here..
The commonwealth is required by law to adopt a Six-Year Improvement Program by July 1 each year based upon the most recent official transportation revenue estimates issued by the Department of Taxation.
The fiscal years 2009-2014 program reflects a commitment to transit and rail, which has grown from 5 percent of total funding in fiscal year 1999 to 18 percent in fiscal year 2009. The program also reflects $2.75 billion of construction funding that must be used to offset the rising cost of maintenance for Virginia’s nearly 58,000 miles of roadway and 13,000 bridges and structures. Virginia is required by law to fund maintenance before construction.
To learn more, and to view the Fiscal Years 2009-2014 Six-Year Improvement Program materials, visit virginiadot.org.
Posted by Christina Fisher on July 11, 2008 | Comments (0)
