CBTA: just under $230M in regional tax revenues; Chesterfield has received about $144.5M back
Loading...
Summary
CBTA Executive Director Chad Parsons told county officials that the authority collected just under $230 million in tax revenues in the last fiscal year, described the 50/15/35 distribution split (local/GRTC/authority), highlighted SmartScale awards that benefited Chesterfield, and said the authority will soon deliberate committing roughly $145 million in regional funds.
Chad Parsons, executive director of the Central Virginia Transportation Authority (CBTA), briefed Chesterfield County officials on CBTA revenues, project leverage and recent SmartScale awards that support local and regional transportation investments.
Parsons said CBTA—created by the General Assembly in 2020—receives two tax streams collected regionally: a sales‑and‑use tax and a fuels tax. He said the authority received "just under $230,000,000" in tax revenues in the last full fiscal year that remain in the nine participating localities for transportation purposes.
Parsons outlined the revenue distribution: roughly 50% of collections return directly to the jurisdictions where they were collected (on a proportional basis), 15% is allocated to GRTC for regional transit needs, and 35% remains with the authority for region‑level projects. Parsons said Chesterfield County has received about $144,500,000 back over CBTA’s six‑year life, and approximately $9,000,000 of local CBTA money was committed in the most recent fiscal year to projects now underway or in advanced planning.
Looking ahead, Parsons said the authority will deliberate in about a month on committing roughly $145,000,000 in regional funds for a new round of projects.
Parsons listed local projects in Chesterfield that have been supported using local CBTA dollars or are leveraging CBTA‑backed bonds: Poway Parkway extension; Centerpoint Parkway extension; Courthouse Road extension; Otterdale Road; drainage at Swift Creek; Upper Magnolia Green East; and the North–South Connector Road. He noted that much of the local funding currently goes to debt service on bonds issued to finance large capital projects.
Parsons also discussed SmartScale Round 6 results: he said the Richmond District outperformed other districts and received just over $510,000,000 in awards; Parsons credited CBTA leverage and regional cooperation for helping the district secure large awards. He cited three projects affecting Chesterfield: Meadowville Road/I‑295 bridge intersection ($24,000,000), Busy Street extension (CBTA‑leveraged, $14,700,000), and the Route 10 interchange improvement phase 2 ($30,000,000). Parsons summarized those three entries as representing about $70,000,000 in SmartScale awards on the table he displayed.
Board members praised regional cooperation and the authority’s role in generating project match and competitiveness. One member characterized the authority’s cumulative funding since creation as “over $1,000,000,000,” and another called out a CVTA contribution of roughly $32,000,000 toward a Western Hill Street project. The authority and county leaders said they will continue to prioritize large connector and interchange projects alongside transit and multimodal investments.
Parsons’ presentation moved to questions and broader board commentary following the funding update.
