Financial Plans
Both state and federal code require financial plans for certain transportation projects.
Section §33.2-368 of the Code of Virginia requires a financial plan for transportation construction projects with an estimated total cost greater than $100 million.
In addition, 23 U.S.C. 106(h) and (i) of the Surface Transportation Act, Moving Ahead for Progress in the 21st Century (MAP-21), requires a financial plan for federal-aid projects over $100 million.
For projects exceeding $500 million, which are classified as major projects, the financial plan has additional requirements.
A financial plan is a comprehensive document that reflects the project’s scope, schedule, cost estimate, and funding structure to provide reasonable assurance that there will be sufficient funding available to implement and complete the entire project, or a fundable phase of the project, as planned.
The financial plan consists of an initial financial plan and annual updates.
Current Plans |
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Project |
District |
Responsible party |
Financial plan |
Annual update |
| Coalfields Expressway (P3) | Bristol | VDOT | ||
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US Route 460 (Corridor Q) Poplar Creek Phase B |
Bristol | VDOT | ||
| Fredericksburg Extension of the I-95 HOV/HOT Lanes Project | Fredericksburg | 95 Express Lanes/VDOT | ||
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Rappahannock River Crossing NB I-95 CN Lanes |
Fredericksburg |
VDOT |
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Rappahannock River Crossing SB I-95 CN Lanes |
Fredericksburg |
VDOT |
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I-264/Witchduck Road Interchange and Ramp (C-D Road) |
Hampton Roads |
VDOT |
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I-64 Hampton Roads Bridge Tunnel Expansion Project |
Hampton Roads |
VDOT |
PDF |
|
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I-64 Hampton Roads Express Lanes (HREL) Segment 1A |
Hampton Roads | VDOT | ||
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I-64 Hampton Roads Express Lanes (HREL) Segment 4C |
Hampton Roads | VDOT | ||
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I-64 Southside Widening and High-Rise |
Hampton Roads |
VDOT |
PDF |
|
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Intermodal Connector |
Hampton Roads |
Eastern Federal Lands |
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| Interstate 64 - Segment 3 | Hampton Roads | VDOT | ||
| Laskin Road Improvements |
Hampton Roads |
VDOT |
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| 495 NEXT | Northern Virginia | VDOT | ||
| Fairfax County Parkway - Southern Segment | Northern Virginia | VDOT | ||
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I-66 East Widening Inside the Beltway |
Northern Virginia |
VDOT |
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Northstar Boulevard |
Northern Virginia |
Loudon County |
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Prince William Parkway Interchange - Balls Ford Road |
Northern Virginia |
Prince William County |
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| Route 7 Corridor Improvements | Northern Virginia | VDOT | ||
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Transform 66 (P3) - Redacted |
Northern Virginia |
I-66 Express Mobility Partners-VDOT |
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I64 Gap Widening |
Richmond |
VDOT |
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| Interstate 81 Widening mile marker 136.6 to mile marker 141.8 |
Salem | VDOT | ||
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Route 58 (P3) |
Salem |
VDOT |
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I-81 Widening MM 221.45 to MM 225.6 |
Salem |
VDOT |
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New Lanes Mile Marker 137-144 on Interstate-81 |
Salem |
VDOT |
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If you have any questions about the financial plans, contact Laura Farmer at 804-786-3096 or [email protected].