CVTA approves Port of Virginia project merger, returns $1 million to authority balance

The Central Virginia Transportation Authority approved a revised project agreement on Aug. 28 that merges two Port of Virginia projects — I‑95 Bells Road and the Gateway Interchange and streetscape improvements — and, according to staff, will return $1,000,000 to the authority’s balance as a result of project efficiencies.

CBTA staff said the authority previously approved the merger and that updated agreement language had been reviewed by legal counsel. “There will actually be 1000000 dollars that is returned to balance entry because of the combination of these 2 projects,” the staff presenter said. The technical and finance committees recommended approval and the board approved the agreement by roll-call vote.

Staff described the merger as spanning two funding cycles and noted that the revised agreement was brought back for final approval after legal review. Board members offered no substantive amendments during the public meeting; the motion passed on a roll-call vote.