Governor Kaine Announces Increased Statewide Transportation Funding
Press Release
- Six-year improvement program public hearings announced -
Governor Timothy M. Kaine announced today that the Commonwealth Transportation Board has released a draft version of a six-year transportation program reflecting an additional $500 million a year in new revenues and bonds. In addition, the Governor announced that the Board will conduct five statewide public hearings between May 16th and May 31st in Richmond, Salem, Fairfax, Chesapeake and New Market.
"As a result of our successful transportation compromise with the 2007 General Assembly, the Commonwealth now has significant new statewide funding to dedicate to public transportation, rail, and highway construction through our six-year transportation plan," Governor Kaine said. "I continue to be impressed with the focus on project delivery and transparency by the Board and our transportation agencies. The new strategies and transportation solutions reflected in this working draft demonstrate our continued commitment to improved efficiency and public accountability."
Over the course of the next month, the board will examine and prioritize projects related to safety, congestion, the Public-Private Transportation Act program, corridors and other mandates, such as transportation impacts expected as a result of the Base Realignment and Closure process. For fiscal years (FY) 2008 through 2013, statewide public transportation funding will increase 44 percent, rail is up more than 40 percent, and highway construction dollars will increase by 35 percent. Overall highway construction funding available for allocation totals $7.8 billion. For public transportation, total funding is around $2 billion.
"While the 2007 General Assembly provided more than $500 million a year in new revenue and bonds to our program, this working draft primarily reflects our ability to put existing projects on a quicker schedule," said Virginia Secretary of Transportation Pierce Homer. "The focus will be on completing those projects on time, on budget and with quality."
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