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Finance committee forwards regional funding deallocation policy to full Authority
Summary
The Central Virginia Transportation Authority Finance Committee voted to recommend a draft regional funding deallocation policy to the full Authority, establishing a four‑year window for leveraged projects to secure full funding and a multi‑step review process that gives localities opportunities to respond before funds are reallocated.
The Central Virginia Transportation Authority Finance Committee voted to recommend to the full Authority a draft regional funding deallocation policy that would make leveraged projects eligible for deallocation if they do not secure full funding within four years.
Staff presented a cleaned‑up draft that creates a multi‑step review: the Technical Advisory Committee (TAC) would initiate review of potential deallocations, advise the Finance Committee, and the Finance Committee would…
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