R EGIONAL P RIORITY P ROJECTS C ONCEPT FOR F ISCAL -C ONSTRAINT IN - - PowerPoint PPT Presentation

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Agenda Item # 9 R EGIONAL P RIORITY P ROJECTS C ONCEPT FOR F ISCAL -C ONSTRAINT IN THE 2040 LRTP H AMPTON R OADS T RANSPORTATION P LANNING O RGANIZATION B OARD M EETING F EBRUARY 18, 2016 Presented By: Robert Crum, Executive Director Camelia

SLIDE 1

REGIONAL PRIORITY PROJECTS – CONCEPT

FOR FISCAL-CONSTRAINT IN THE 2040 LRTP

Presented By: Robert Crum, Executive Director Camelia Ravanbakht, PhD, Deputy Executive Director

HAMPTON ROADS TRANSPORTATION PLANNING ORGANIZATION BOARD MEETING FEBRUARY 18, 2016

Agenda Item # 9

SLIDE 2

Regional Priority Projects

SLIDE 3

LRTP FISCAL-CONSTRAINT REQUIREMENTS

Source: Federal Register 23 CFR 450, Statewide and Metropolitan Transportation Planning

Revenue Forecast

Based on Reasonably

Available Funds (sources

f revenue dedicated to
r historically used for

transportation purposes)

Project Costs

Expressed in Year-of-

Expenditure to properly reflect inflation

 Fiscal-constraint is a demonstration of sufficient funds

(Federal, State, regional, local, private, etc.) to implement proposed transportation system improvements through the comparison of revenues and project costs.

Fiscal-Constraint

SLIDE 4

REGIONAL PRIORITY PROJECTS

PARTNERSHI PS

HRTPO HRTAC State Partners Federal Partners

Regional Transportation Planning

SLIDE 5

REGIONAL PRIORITY PROJECTS FORECASTED REVENUES

Forecasted Revenues for Regional Priority Projects (2016-2040)

Hampton Roads Transportation Fund (HRTF) $6 Billion High-Priority Projects Program (HB2) $627 Million

TOTAL ANTICIPATED $6.627 Billion

Source: VDOT

SLIDE 6

REGIONAL PRIORITY PROJECTS

Over $600

Million in HRTAC

Allocations to date

PROGRESS

Photo Credit: VDOT

SLIDE 7

Regional Priority Projects

SLIDE 8

2040 FISCALLY-CONSTRAINED LRTP: REGIONAL PRIORITY PROJECTS

I-64 Peninsula Widening
I-64/I-264 Interchange

I

I-64 Southside Widening/High-Rise

Bridge - Phase 1

II

Hampton Roads Harbor Crossing –

Locally Preferred Alternative Phase 1

III

I-64 Southside Widening/High-Rise

Bridge - Phase 2

IV

I-64/Fort Eustis Blvd Interchange
US Route 460/58/13 Connector

V

Sequencing Based on Project Readiness

SLIDE 9

RECOMMENDED ACTION

*Actions to be taken under Meeting Agenda Item # 15

 Endorse the Fiscal-Constraint Concept

for the Regional Priority Projects in the 2040 LRTP

Sequencing Based on Project Readiness

SLIDE 10

NEXT STEPS

March 2016

2040 LRTP: Draft Fiscally-Constrained List of Projects

April-May

Public and Advisory Committee Review of 2040 LRTP Draft Fiscally-

Constrained List of Projects

June 2016

2040 LRTP: Approval of Final Fiscally-Constrained List of Projects

July 2016

Approval and Adoption of the 2040 LRTP