Board staff provided multiple project updates on June 15 covering construction milestones, operations and maintenance startup, and lands acquisition.
Finance and construction staff said they are preparing a WIFIA loan draw for roughly $105 million as part of the project’s $569 million WIFIA facility; draws are being used to pay developer invoices as they are submitted. Staff also said they have delayed issuance of the subordinated sales-tax bonds slightly to avoid earlier interest costs.
On construction, project managers said the diversion inlet structure is expected to reach turnover in early July and that embankment work is progressing with roughly four months left in the current construction season. Contractors closed Highway 75 on June 15 to rebuild an intersection to dam‑safety standards; staff anticipate reopening the road at the end of July. Multiple interim completions — including County Road 22, County Road 17 drain inlet, and Reach 14 near the diversion inlet — moved to “completed” status, and additional crossings such as the 52nd Avenue crossing were forecast to reopen in mid‑July.
On operations and maintenance, P3 operations (RVA) have begun using CityWorks tracking software, completed initial bridge inspections and deck cleaning, and are standing up inspections and periodic maintenance on completed elements.
In lands, Justin reported steady progress on flow‑easement acquisitions: the authority has several settlements and closings in process, roughly 14 pending settlement offers, 28 parcels awaiting closing, and about 5,500 flow‑easement acres still outstanding. Justin said upstream mitigation owner‑group settlements have now exceeded 70 percent.
Why it matters: The WIFIA draw and interim completions fund continuing construction payments; road reopenings affect local traffic and producers; and lands progress is a precondition for final project operation and for avoiding litigation or delay.
What’s next: Staff will execute the WIFIA draw and continue closings; staff will return with updates on occupancy milestones, final completion scheduling, and any remaining eminent‑domain actions.