Revenue Sharing Program
Request by the County to participate in FY 2004-05 VDOT Revenue Sharing Program
AGENDA DATE: ITEM NUMBER:
ACTION: X INFORMATION:
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.
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.
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.