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TAC recommends Diamond District off‑cycle request with 80% regional interest support, 20% city match
Summary
The CBTA Technical Advisory Committee recommended forwarding Richmond’s Diamond District off‑cycle funding request to the Authority, proposing 80% from CBTA regional interest ($10,369,508) and 20% from the City ($2,592,377); the motion passed by roll call. The city agreed some combination of new dollars and limited swaps of out‑year regional funds would be considered.
Richmond’s request for off‑cycle funding to support the Diamond District advanced from the Central Virginia Transportation Authority Technical Advisory Committee on a procedural recommendation approved by roll call.
Chair Joe proposed that 80% of the project’s requested funds come from CBTA regional interest income and that the City of Richmond make up the remaining 20% from local sources. He also recommended the city forgo a wild‑card allocation in Round 5 as part of the arrangement. Staff later provided the dollar split during debate: $10,369,508 from regional interest income and $2,592,377 from a city source, figures the committee used…
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