COUNTY OF ALBEMARLE

 

EXECUTIVE SUMMARY

 

 

AGENDA TITLE:

VDOT Revenue Sharing Program Application, FY 2010

 

SUBJECT/PROPOSAL/REQUEST:

Resolution to approve the County’s participation in the Virginia Department of Transportation (VDOT) Revenue Sharing Program for FY 09-10

 

STAFF CONTACT(S):

Messrs. Tucker, Foley, Davis, Benish, Wade

 

LEGAL REVIEW:   Yes

 

AGENDA DATE:

August 5, 2009

 

ACTION:               INFORMATION: 

 

CONSENT AGENDA:

  ACTION:   X          INFORMATION: 

 

 

ATTACHMENTS:   Yes

 

 

REVIEWED BY:

 


BACKGROUND:

The VDOT Revenue Sharing Program (“Program”) is a competitive funding program for road improvements which requires a minimum dollar for dollar match from participating localities.  The County has participated in this Program since 1988.  The Program provides an opportunity for the County to receive an additional $1.0 million for road improvements.   Last year, the County provided a $1.5 million match and received the full award of $1.0 million, which was applied to the Meadow Creek Parkway project.

 

STRATEGIC PLAN:

Goal 3: Develop Policies and Infrastructure Improvements to Address the County’s Growing Needs.

 

DISCUSSION:

The Revenue Sharing Program funding priorities (Tiers) were modified last year to make projects that are administered by the locality the highest priority for funding (Tier One) and projects in which the locality has provided a match in excess of  a dollar for dollar match the second highest priority for funding (Tier Two). The County is not administering any projects eligible or viable for grant funding this year.  In order to qualify under the second highest criteria (Tier Two) for this competitive program, the County should provide more than a dollar for dollar match.  The County has provided a $1.5 million match for the past two years. 

 

VDOT residency staff recommends applying any FY 2010 Revenue Sharing funds toward the Jarmans Gap Road project to ensure that sufficient funds are available for the project to stay on schedule for construction.  If the VDOT Revenue Sharing request is awarded, the project would receive the full $2.5 million in funding, which would consist of $1.0 million in State funding and $1.5 million in local funding.  The County has previously provided $ 483,600 in revenue sharing fund match for this project, bringing the total revenue sharing match from the County to $1,983,600 or 12% of the total project cost, if this latest request is approved.   

 

The estimated cost for the Jarmans Gap Road project (from Crozet Avenue to Jarmans Lake Road) is $16,462,050.  The project has received a cumulative total of $14,268,596 (including previous funding and the FY09-10 Secondary Program allocation), resulting in a shortage of $2,196,454 to complete the project.  VDOT and staff believe that the full $2.5 million in requested Revenue Sharing funds will be needed for the project by the time it reaches construction to cover potential cost increases and/or possible reductions in the FY09-10 Six Year Secondary Plan allocations. 

 

The current estimated advertisement date to bid the Jarmans Gap Road Project for construction is 2011.  As noted, this project has been a previous recipient of Revenue Sharing funds. 

 

BUDGET IMPACT:

A total of $1,074,698 in previous appropriations is available in unencumbered funds in the CIP’s Revenue Sharing Road funds.  To fully fund the $1.5 million match, an additional $425,302 would need to be appropriated from the Transportation Improvement Program-Local fund (950136) fund balance, which currently has an unobligated fund balance of $3,705,730.  This appropriation will not need to be made until after the County is notified of the grant award (October-November, 2009) and staff recommends that this item come back to the Board for final consideration if approved due to uncertainties in the ultimate status of this project and the County’s overall financial condition.  It is important to point out that this proposal does not make use of any Revenue Sharing funds in the current fiscal year (FY2009-10) which have been specifically obligated as a reserve for the General Fund if the County should experience further revenue shortfalls in FY 2009-10.


RECOMMENDATIONS:

Staff recommends that the Board adopt the attached resolution to participate in VDOT’s Revenue Sharing Program for FY 2010 which shall include $426,000 from the Local Transportation Improvement Program funding in the CIP in addition to the current unencumbered balance in Revenue Sharing funds to provide sufficient funding to cover the $1.5 million local match.  If this funding request is approved, staff will bring this item back for final consideration after more information is available regarding the project’s status and the County’s overall financial condition. 

 

ATTACHMENTS

A – Resolution

Return to consent agenda

Return to regular agenda