The Commonwealth Transportation Board (CTB) today approved nearly $51 million in matching funds for localities to improve their roads and bridges, including safety projects. The funds are available under the Revenue Sharing Program in which each dollar a participating locality puts toward a project is matched by a dollar from the Virginia Department of Transportation (VDOT), up to the maximum available allocation of $1 million per locality.
“This program helps counties, cities and towns make their transportation dollars go further,” said Virginia Secretary of Transportation Pierce Homer. “Revenue sharing is a true partnership between the localities and VDOT to address local transportation needs. The localities determine their priority projects, and the extra funds from VDOT speed up progress on those projects.”
A total of 71 localities submitted requests for revenue sharing funds that will go toward maintenance or construction on primary, secondary or urban road systems. Projects include:
- Bridge replacements
- New or reconstructed roads
- Sight distance and intersection improvements
- Turn lanes, guardrails and spot widening
- Bicycle facilities
- Sidewalk and landscaping projects
- Drainage improvements
- Signal and paving projects
Under the current system for allotting revenue sharing funds, those localities that commit more than $1 million and offer additional unmatched funds receive priority. Current unmatched funds of $58 million committed to projects bring the total value of the Revenue Sharing Program to $160 million for addressing transportation needs across the commonwealth.