CBTA approves Chesterfield project agreement, accepts clean audit and opens off‑cycle review for Richmond request

The Central Virginia Transportation Authority approved three formal actions at its meeting: a project agreement for a Chesterfield-administered Otterdale Road project, acceptance of the authority’s annual audit with a clean opinion, and a vote to begin the off‑cycle review of a City of Richmond funding request for the Diamond District redevelopment.

The votes affect projects and finances across the Richmond region. The Chesterfield project agreement covers improvements between Otterdale Road and Woodlake Village Parkway with a listed total project cost of $32,801,076 and will be administered by Chesterfield County. Auditors presented an unmodified (clean) opinion on CBTA’s financial statements and reported no findings in internal controls or compliance. Separately, the CBTA directed its Technical Advisory Committee (TAC) to validate a City of Richmond off‑cycle funding request and asked staff to explore potential funding sources for that request, which the city estimates at $12,900,000 for FY 2026–27 for Phase 1a of the Diamond District.

The Chesterfield project…