CVTA commits $4 million to Fall Line Design‑Build No. 2 to cover bid shortfall; $1.05 million to regional balance

On June 6, 2025, the Central Virginia Transportation Authority (CVTA) voted to commit $4,000,000 in FY2024 interest earnings to the Fall Line Design‑Build No. 2 project and to allocate $1,050,000 of the same interest pool to the authority’s regional project balance entry. The motion passed by voice/roll‑call vote.

The action follows a recommendation from the CVTA technical advisory committee and the finance committee to set aside a total of $5,050,000 of FY24 interest income for use on project applications and balance‑entry needs. Chet Parsons, CVTA executive director, told the authority that VDOT had submitted bid results showing an increased cost exposure for Design‑Build No. 2 and that the project currently faces a “deficit of 10,200,000.0.” Parsons said the TAC and finance committee recommended applying $4,000,000 of the interest earnings to…