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Central Virginia Transportation Authority outlines projects, revenue and Powhatan allocations
Summary
CVTA leaders updated the board on regional transportation investments, funding streams and projects that affect the Richmond area. CVTA has committed hundreds of millions to highways, transit and the Fall Line Trail; Powhatan has received about $15.15 million in regional allocations to date.
Representatives of the Central Virginia Transportation Authority briefed the Powhatan Board on CVTA’s latest allocations and regional project pipeline during the Feb. 24 meeting.
Sean Davis, chair of the CVTA board, and Executive Director Chet Parsons summarized CVTA revenue flows (a dedicated sales‑and‑use tax and a fuels tax collected in each locality), described how funds are distributed back to local governments and highlighted major CVTA commitments. Parsons said CVTA allocations that had been reported as $720 million in an earlier summary rose to about $870 million after more recent awards.
CVTA distributes funds in three parts: roughly half of collections go back proportionally to localities, about 35% is reserved for larger regional projects administered by CVTA, and about 15% is set aside for the regional transit operator (GRTC). Parsons said fiscal‑year 2024 distributions included roughly $110 million back to local governments, about $77 million reserved for the CVTA regional fund and about $33 million for GRTC.
CVTA leaders highlighted several projects affecting the broader region: a $100 million CVTA contribution toward the I‑64 gap project, extensions to county roads in Chesterfield and Henrico, preliminary work on interchanges and a planned North–South Bus Rapid Transit corridor in Richmond. The authority also committed substantial funds early to the Fall Line Trail, Parsons said.
Parsons told supervisors Powhatan has received approximately $15.15 million in CVTA allocations since 2020; he said that amount covered three regional commitments to date and that Powhatan may apply for future rounds of regional funding. CVTA staff said the next round of regional funding opens in July and that the authority is studying the use of bond financing for select large projects.
The CVTA presentation was informational; no county votes were required.
