EXECUTIVE SUMMARY
|
Revenue
Sharing Program
SUBJECT/PROPOSAL/REQUEST: Request
by the County to participate in FY 2004-05 VDOT Revenue Sharing Program
STAFF CONTACT(S): Messrs.,Tucker,Foley,Cilimberg,Benish,Wade |
AGENDA DATE: ITEM
NUMBER: ACTION:
INFORMATION: CONSENT AGENDA: ACTION: X INFORMATION: ATTACHMENTS: Yes
REVIEWED BY: |
BACKGROUND:
VDOT’s Revenue Sharing Program
provides an opportunity for the County to receive up to an additional $500,000
for road improvements in each fiscal year. The program requires a
dollar-for-dollar match by the County, resulting in a total commitment of up to
$1,000,000 towards improvements to the local road system in each fiscal year.
The County’s match is allocated in its Capital Improvements Program (CIP) which
is currently programming $450,000 for revenue sharing in FY 2004-05. The
Revenue Sharing Program enables the County to better implement the Priority
List of Road Improvements approved by the Board by providing an additional
infusion of funds which can accelerate the planning and construction of roads
projects on the list. The County has participated in this program since 1988.
STRATEGIC PLAN:
3.1 Make the County a Safe and
Healthy Community in which citizens feel secure to live, work and play.
3.3 Develop and implement policies
that address the County’s growth and urbanization while continuing to enhance
the factors that contribute to the quality of life in the County.
DISCUSSION:
The County must formally request
participation in the FY 2004-05 program by
Additionally, VDOT has requested
that the County indicate its intent to participate in the Supplemental Revenue
Sharing Program for FY 2004-05. The
attached letter also indicates the County’s intent to participate in this
program. Funds for this Supplemental
round come from unused allocations from the previous fiscal year (FY 2003-04). VDOT will not know the specific additional amount
available to participating localities until December, 2004.
The combined requests for
participation in the FY2005-05 Revenue Sharing Program and Supplemental Revenue
Sharing Program could potentially call for a County match in excess of the $450,000
currently budgeted in the CIP for FY 2004-05.
However, historically funds available from VDOT for the annual program
and supplemental funding have not always exceeded $450,000. Therefore, it is staff’s opinion that the
County should indicate its intent to fully participate in both the FY 2004-05
Revenue Sharing and the Supplemental Revenue Sharing Programs. This will provide the opportunity to receive the
maximum additional infusion of funds towards eligible transportation projects,
many of which have experienced significant delays due to VDOT funding
constraints in the Six Year Secondary and Primary Road Construction Programs. Indicating the County’s intent at this time
does not commit the County to participate in the two programs beyond the
$450,000 programmed in the CIP in FY 2004-05, leaving that decision to the
Board once the grants are awarded by the Commonwealth Transportation Board.
Staff recommends the County
indicate its intent to participate in both the Revenue Sharing Program and the
Supplemental Revenue Sharing program in FY2004-05 through the attached letter.