Thursday, June 20, 2013

$17.6 Billion Approved for Transportation Improvements, Including New Funding Sources for Northern Virginia

The Commonwealth Transportation Board approves six-year transportation program, allocating funding to highway, rail and other transportation projects across the state; Board also approves $5.2 billion annual transportation budget, increased by 11.1 percent because of new funding
Governor Bob McDonnell has announced new and sustainable funding from HB 2313 that will boost the state's transportation program to $17.6 billion for the next six years; a 54% increase in funding over last year's approved plan. The Commonwealth Transportation Board (CTB) approved the program, which allocates the funding for transportation improvements over the next six years beginning July 1.
The Six-Year Improvement Program distributes funding for highway, road and bridge projects as well as rail, transit, bicycle, pedestrian and other transportation improvements across the state.
HB 2313 also established a new transportation revenue source for Northern Virginia, which is $1.9 billion over six years. This amount is not reflected in the final six-year program because it will be allocated regionally through the Northern Virginia Transportation Authority Fund. Total for six-year program and the Northern Virginia Transportation Authority Fund: $17.6 billion ($6.2 billion increase).
FY 2014 transportation budget breakdown:
  • VDOT (construction, maintenance, administration, debt service and other costs) - $4.6 billion
  • DRPT (public transportation and commuter assistance programs, Dulles Corridor Metrorail Project, administration and other costs) - $504 million
  • Airport and ports - $62.6 million
Total: $5.2 billion
See the full announcement by Governor McDonnell


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