RICHMOND, VA. — The Commonwealth Transportation Board (CTB) released the state’s working draft of the Fiscal Years 2013-2018 Six-Year Improvement Program. The program allocates $10.6 billion in funding to transportation improvements over the next six fiscal years beginning July 1, 2012. The draft six-year program funding breakdown includes $8.3 billion for roads, highways, and bridges; and $2.3 billion for rail, transit, and other improvements.
RICHMOND, VA. — The Commonwealth Transportation Board (CTB) released the state’s working draft of the Fiscal Years 2013-2018 Six-Year Improvement Program. The program allocates $10.6 billion in funding to transportation improvements over the next six fiscal years beginning July 1, 2012. The draft six-year program funding breakdown includes $8.3 billion for roads, highways, and bridges; and $2.3 billion for rail, transit, and other improvements.
The proposed six-year program is dependent on the General Assembly approving a two-year budget that does not include major earmarks.
Each year the six-year program is updated to reflect the latest projected revenues and transportation priorities. The overall size of the draft program is the same as the program approved last year. Allocations are based on the following priorities:
• complete projects under construction;
• complete preliminary engineering or right of way phases of other projects;
• maximize federal funding;
• address safety issues by funding deficient bridges and pavements; and
• support transportation projects procured under the Public-Private Transportation Act and the governor’s ongoing transportation priorities.
Further details will be known once public meetings are held over the next month and the board has reviewed the comments. The final six-year program will be released in June 2012.