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CVTA staff proposes using interest earnings to supplement existing regional projects; members suggest waiting for SmartScale results

Central Virginia Transportation Authority Technical Committee · December 10, 2024
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Summary

Staff proposed allocating $5.05 million set aside for regional projects to supplement existing approved projects (balance-to-complete) rather than fund entirely new candidates; members recommended waiting for SmartScale results in January before final allocation.

Staff presented options for allocating the CVTA’s recently reserved interest earnings and recommended prioritizing supplemental funding for existing approved regional projects rather than funding entirely new candidates.

Chet (staff) summarized the prior authority decision allocating interest earnings: “1 and a half million to the wayfinding implementation, $5,050,000.00 to initially fund the…

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