CVTA TAC approves VDOT revenue estimates, discusses options for $48M unallocated balance and sets Feb. 27 public hearing
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Summary
TAC voted to accept updated VDOT revenue estimates that expand the round‑4 funding scenario, reviewed staff scorecards and allocations, discussed how to deploy roughly $48 million in unallocated funds (options included funding Fulton Yard and Shaco Valley Streets or seeding bond candidates), forwarded options to finance and set a public hearing for Feb. 27.
The Central Virginia Transportation Authority Technical Advisory Committee accepted updated revenue estimates from the Virginia Department of Transportation that staff used to build the Round 4 regional funding scenario, and the committee discussed how to allocate an unprogrammed balance of roughly $48 million.
Chet, a VDOT staff member presenting item 7, said the state’s December revenue estimate letter (from Kim Pryor, VDOT CFO) formed “the foundation of our regional project allocations,” and staff converted those state numbers into the CVTA template to project local allocations through fiscal year 2032. A motion to approve the VDOT estimates was moved and seconded; the committee recorded voice and roll‑call support and the motion passed.
Staff then presented round‑4 scorecards and a draft allocations plan showing category‑level distributions and remaining unallocated funds. The scorecards are informational at this stage and reflect scoring, category caps and leveraging assumptions from the CVTA framework.
TAC members debated multiple approaches for the unallocated balance (about $48 million): leave the funds unprogrammed as reserves; allow jurisdictions with near‑cut projects to reduce their requests by the available balance to be funded within category shares; program money to projects raised in the meeting (members specifically referenced funding the Fulton Yard request from VPRA and the Shaco Valley Streets project); or use the balance as seed money to ready large bond candidates by funding preliminary engineering (PE) and right‑of‑way (ROW).
Amy recommended funding both the Fulton Yard request ($15 million) and the Shaco Valley Streets ask (she referenced a $14 million figure reported by the city) and suggested splitting remaining money to seed readiness for bond candidates. Other members suggested sending a suite of options to the finance committee for evaluation rather than making a single formal recommendation today. The TAC voted unanimously to forward the discussed options to the finance committee and to authorize advertising the public review.
Staff also presented a draft press release and asked TAC to recommend setting the FY27–32 regional funding public hearing for Feb. 27; the committee moved and approved that recommendation by voice vote. TAC members were reminded there is a follow‑up TAC meeting in early February if further adjustments are needed prior to formal public release.
Next steps: staff will publish the illustrative project list and materials for public review and finance will consider the options TAC forwarded before the authority finalizes allocations.
