CVTA provides initial Round 4 scoring and updates regional spend-down plan; available funding far below requests

Central Virginia Transportation Authority staff presented an initial draft of Round 4 scoring and an update to the regions spend-down plan during the Dec. 10 finance committee meeting, noting a large gap between project requests and available funds.

Mister Parsons walked the committee through the draft scorecard and explained the difference between a projects benefit rank (based solely on merits) and its category rank (a benefit-cost rank that accounts for a projects requested amount). He said preliminary figures show approximately $465,000,000 in project requests across categories compared with a baseline funding pot near $109,000,000.

Parsons said staff expects updated revenue projections from VDOT later in December; those revised projections could increase or decrease the baseline funding available for Round 4 and would be reflected in the January TAC and full authority packets. He also said localities may adjust their funding requests between now and January to improve benefit-cost positions.

On the regional spend-down plan, staff described a biannual update process that will track how allocated regional dollars are scheduled to be spent through FY31 and said the next scheduled table update would come next summer after Round 4 allocations.

The staff presentation was informational; no committee action was required on the Round 4 draft scorecard or the spend-down plan update at this meeting.