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Go Virginia committee urged to speed project pipelines after $10M reversion confirmed
Summary
The Go Virginia committee reviewed unobligated regional balances; staff confirmed a $10 million reversion in the governor's budget and said roughly $20 million remains undecided, urging regions to accelerate projects and consider competitive-fund applications.
The Go Virginia Regional Council Committee on Wednesday reviewed regional unobligated balances and discussed how recent budget decisions could reduce available project funds.
Chair John King opened the discussion and turned the presentation to Sharon Gibson, program manager for Go Virginia at the Department of Housing and Community Development (DHCD). Gibson summarized regional starting balances and a fiscal-year forecast, noting the chart under discussion covered only per-capita allocations and not competitive funds. She said some regions have effectively used competitive funds to cover projects that exceeded their per-capita allotments.
"This chart does not include funds from our competitive funds. This is just strictly focused on the regional allocation," Gibson said, explaining why Regions 3 and 6 appear above 100% on the chart.
Committee members focused on two near-term budget risks. King and others reported the governor’s budget includes a confirmed $10 million reversion of unobligated Go Virginia funds; they said an additional roughly $20 million remains undecided. King emphasized that previously approved projects would not be disrupted but urged regions to move projects forward to avoid future reversions.
Committee members and staff discussed next steps for handling any required reversion. Gibson and the chair said staff will present methodologies for how the reversion might be implemented, and the executive committee will prepare recommendations for the state board to consider at its June meeting.
Staff also reminded regions how the program's budget rules work: Go Virginia is structured as a non-reverting program in practice, but statutory and budgetary timelines mean adjustments are possible once the governor signs the budget. Gibson said regions that exceed a single-year carryover allotment will have excess funds moved into the competitive fund, which can be accessed via a separate, scored application process.
The committee concluded by urging regional councils to accelerate pipeline development and to consider single-region or multi-region competitive fund applications where eligible. The chair said staff would follow up with materials and guidance to regional councils.
The committee adjourned with staff tasked to return with recommendations and a more detailed plan on how any reversion would be managed.
