Semiannual Report on the Transportation Partnership Opportunity Fund — Memorandum, August 24, 2023
Summary
This is a memorandum dated August 24, 2023 from W. Sheppard Miller, III, Secretary of Transportation, with the subject Report on the Transportation Partnership Opportunity Fund. It is the semiannual report under Section §33.2-1529. I of the Code of Virginia for the reporting period of January I, 2023 to June 30, 2023. It states that the Economic Development Authority of Chesterfield County submitted an application on June 26, 2023 requesting a grant in the amount of $5,000,000, which is under review by Department staff. As of June 30, 2023 the Fund has an uncommitted balance of $16,134,444 and has been capitalized in the amount of $455,258,484. An attachment lists awards by recipient and project.
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“Semiannual Report on the Transportation Partnership Opportunity Fund — Memorandum, August 24, 2023.”
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COMMONWEALTH of VIRGINIA
Office of the Governor
W. Sheppard Miller Ill
Secretnry ,if Tr.msporrntitm
August 24, 2023
MEMORANDUM
TO: The Honorable Terry L. Austin
The Honorable George L. Barker
The Honorable Janet D. Howell
The Honorable Barry D. Knight
The Honorable David W. Marsden
The Honorable Roxann L. Robinson
FROM: W. Sheppard Miller, III
Secretary of Transportation
SUBJECT: Report on the Transportation Partnership Opportunity Fund
Pursuant to Section §33.2-1529. I of the Code of Virginia, the Governor is required to submit semiannual
reports on the Transportation Partnership Opportunity Fund ("TPOF" or the "Fund"). This memorandum
and the related attachment constitutes that report on behalf of Governor Glenn Youngkin for the period
ending June 30, 2023.
During this reporting period of January I, 2023 to June 30, 2023, the TPOF program experienced the
following activity:
• The Economic Development Authority ("EDA") of Warren County submitted an application for a
$155,516 grant to complete roadway improvements that would facilitate travel to Nature's Touch
Frozen Food Production Facility. On November 16, 2021, Governor Northam announced the award
of a Virginia Investment Performance ("VIP") Grant of $400,000 to the Warren County EDA to
establish the production facility. These improvements represent a $40.3 million investment by
Nature's Touch and the creation of 67 new jobs. The Panel met on May 18, 2022, regarding its
evaluation of the application and recommended the Governor award the requested TPOF grant.
Governor Youngkin awarded a grant in the amount of$155,516 to Warren County EDA on June
28, 2022, and an agreement between the EDA and VDOT was executed on February I, 2023..
• The Economic Development Authority of Chesterfield County ("CEDA") submitted an application
on June 26, 2023, requesting a grant in the amount of$5,000,000. The application is under review
by Department staff.
As of June 30, 2023, fifty applications related to forty separate projects, have been received requesting a
total of$233,031,970 in TPOF assistance. Governors have approved awards totaling$ I 05,464,265. The
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The Honorable Terry L. Austin
The Honorable George L. Barker
The Honorable Janet D. Howell
The Honorable Barry D. Knight
The Honorable David W. Marsden
The Honorable Roxann L. Robinson
August 24, 2023
Pagel
Fund has an uncommitted balance of $16,134,444. To date, the Fund has been capitalized in the amount of
$455,258,484 from the following:
• $23,600,000 and $26,400,000 from the Toll Facility Revolving Account and from the Highway
Construction Fund, respectively, pursuant to Chapter 951 ofthe Acts of Assembly of 2005;
• $305,000,000 pursuant to Chapter 847 ofthe Acts of Assembly of2007 and Chapter 780 ofthe
Acts of Assembly of2016;
• $50,000,000 made available July I, 2011 from the Commonwealth Transportation Fund
pursuant to Item 452 H. of Chapter 890 of the Acts of Assembly of2011.
• TPOF is provided with onethird of all interest, dividends, and appreciation that may accrue to
the Transportation Trust Fund and the Highway Maintenance and Operating Fund pursuant to
Chapter 1230 of the Acts of Assembly of 2020. Through June 30, 2023, TPOF has received
$50,258,484 in interest earnings.
The $305,000,000 contribution, as outlined by Chapter 847 of the 2007 Acts ofAssembly and Chapter 780
of the 2016 Acts of Assembly, is targeted for specific projects while the remaining $100,000,000 and
interest earnings may be used for any eligible applicant and project. The body of this report focuses on the
use of the $ I 00,000,000, interest earnings to the fund and the dedicated revenue beginning in 2015. The
attachment provides a brief summary and overview ofthe fund in its entirety as ofJune 30, 2023.
The Fund is one of many tools available to market the Commonwealth to prospective economic
development partners. Please let me know if I can provide additional information regarding these projects
or the use ofthe Fund.
cc:
The Honorable Caren Merrick, Secretary ofCommerce and Trade
The Honorable Stephen E. Cummings, Secretary of Finance
Attachment
Attachment
Semiannual Report on the Transportation Partnership Opportunity Fund
Activity/Award Details to Date
The table below summarizes the awards to date and the remaining balance form the $100 million in capitalization as of June 30, 2023.
Capitalizations
July 1, 2006 $50,000,000
July 1, 2011 50,000,000
Interest Earnings 50,258,484
Total Funding Available $150,258,484
Award
Project Amount Type of Assistance Date Eligibility Criteria
VDOT – CFX 1,772,740 Grant 4/28/2006 PPTA Project
City of Newport News 5,000,000 Grant 8/22/2006 Economic Development
State Route 28 HTIDC 5,000,000 Grant 8/22/2006 PPTA Project
Town of Leesburg $5,000,000 Grant 2/12/2007 Design-Build Project
County of Prince George 10,000,000 Grants 5/19/2008 Economic Development
4/3/2008
VDOT – CFX (Hawks Nest) 9,892,200 Grants and PPTA Project
2/25/2009
County of Loudoun 3,000,000 Grant 5/3/2010 Design-Build Project
County of Accomack 3,250,968 Grant 9/30/2010 Economic Development
Virginia Comm. Space Flight Authority 5,000,000 Grant 9/15/2011 Economic Development
City of Winchester 47,533 Grant 12/20/2011 Economic Development
11/14/2011
Virginia Comm. Space Flight Authority 10,000,000 Grants and Economic Development
12/7/2012
County of Rockingham 5,000,000 Grant 6/5/2012 Design-Build Project
County of Prince William 4,978,062 Grant 6/5/2012 Design-Build Project
Virginia Comm. Space Flight Authority 5,000,000 Grant 1/25/2013 Economic Development
Virginia Comm. Space Flight Authority 5,000,000 Grant 2/5/2013 Economic Development
Department of Aviation 151,085 Grant 2/13/2013 Economic Development
County of Accomack 4,000,000 Grant 7/26/2013 Design-Build Project
County of Giles 724,878 Grant 7/26/2013 Economic Development
Rt. 28 HTIDC 5,000,000 Grant 7/26/2013 PPTA Project
EDA of Newport News 1,000,000 Grant 1/5/2015 Economic Development
City of Richmond* 950,000 Grant 1/11/2018 Economic Development
1/11/2018
County of Frederick 1,169,602 Grant and Economic Development
8/1/2018
Virginia Port Authority 5,000,000 Grant 10/4/2018 Transportation Service
Virginia Comm. Space Flight Authority 5,000,000 Grant 11/13/2018 Economic Development
Virginia Comm. Space Flight Authority 7,500,000 - 7/1/2020 Chapter 1289 Item 431 (a)(b)
Transportation Initiatives 20,000,000 - 7/1/2020 Chapter 552 Item 447.10 (b)
City of Hampton 979,681 Grant 1/11/2021 Economic Development
EDA of New Kent County 2,000,000 Grant 6/28/2022 Economic Development
County of Stafford 1,392,000 Grant 6/28/2022 Economic Development
EDA of Warren County 155,516 Grant 6/28/2022 Economic Development
Total Awards $132,964,265
Reductions** 1,159,775
Available for Award $16,134,444
*Grant agreement pending
**FY 2009-2022 Indirect Costs and Governor's FY 2010 Operational Efficiencies Reduction
Attachment: Transportation Partnership Opportunity Fund (TPOF) Semi-annual Report
Period Ending June 30, 2023 Page 1 of 7
Attachment
Semiannual Report on the Transportation Partnership Opportunity Fund
Activity/Award Details to Date
The following identifies the recipients, the projects and the awards made, and the actions taken from TPOF, along with their current status:
Awards/Projects with Financial Close
Type of Date of
Recipient Project Location Assistance Amount Award Status
Buchanan, Wise Grant is fully disbursed. Grant
VDOT Coalfields Expressway and Dickenson Grant 1,772,740 4/28/2006 awarded was $2,000,000. Final
Counties grant amount was $1,772,740.
State Route 28
Highway Rt. 28 Corridor Loudoun and
Grant $5,000,000 8/22/2006 Grant is fully disbursed.
Transportation District Improvements Fairfax Counties
Commission
Economic
Canon Virginia, Inc. City of Newport
Development
Economic News and County Grant $5,000,000 8/22/2006 Grant is fully disbursed.
Authority of the City
Development Project of Gloucester
of Newport News
Town of Leesburg Battlefield Parkway Town of Leesburg Grant 5,000,000 2/12/2007 Grant is fully disbursed.
Grants are fully disbursed.
Buchanan, Wise 2 Grants- 4/3/2008
Coalfields Expressway Grants awarded were
VDOT and Dickenson $5,000,000 9,892,200 and
Hawks Nest Section $10,000,000. Final grant amount
Counties each 2/25/2009
was $9,892,200.
2 Grants-
County of Prince Rolls-Royce Economic County of Prince
$5,000,000 10,000,000 5/19/2008 Grants are fully disbursed.
George Development Project George
each
County of Loudoun Pacific Boulevard County of Loudoun Grant 3,000,000 5/3/2010 Grant is fully disbursed.
Mid-Atlantic Regional Grant is fully disbursed. Grant
County of
County of Accomack Spaceport (MARS) – Grant 3,250,968 9/30/2010 awarded was $3,427,412. Final
Accomack
Orbital Sciences Corp. grant amount was $3,250,968.
Virginia Commercial
County of
Space Flight Authority MARS Grant 5,000,000 9/15/2011 Grant is fully disbursed.
Accomack
(VCSFA)
Virginia Commercial 2 Grants- 11/14/2011
County of
Space Flight Authority MARS $5,000,000 10,000,000 and Grants are fully disbursed.
Accomack
(VCSFA) each 12/7/2012
The City was unable to complete
Monticello Drive original project due to ROW
Expansion- issues. Grant amount is
City of Winchester City of Winchester Grant 47,533 12/20/2011
Rubbermaid Products equivalent to the first
expansion disbursement made in good faith
of award.
Harrisonburg Southeast County of
County of Rockingham Grant 5,000,000 6/5/2012 Grant is fully disbursed.
Connector Rockingham
2 Grants-
County of Prince USMC Heritage Center County of Prince $2,242,350
4,978,062 6/5/2012 Grant is fully disbursed.
William Improvements William and
$2,735,712
Page Total $67,941,503
Attachment: Transportation Partnership Opportunity Fund (TPOF) Semi-annual Report
Period Ending June 30, 2023 Page 2 of 7
Attachment
Semiannual Report on the Transportation Partnership Opportunity Fund
Activity/Award Details to Date
Awards/Projects with Financial Close - Continued
Type of Date of
Recipient Project Location Assistance Amount Award Status
Virginia Commercial
County of Loan has been converted to a
Space Flight Authority MARS Grant 5,000,000 1/25/2013
Accomack grant. Grant is fully disbursed.
(VCSFA)
Virginia Commercial
County of
Space Flight Authority MARS Grant 5,000,000 2/5/2013 Grant is fully disbursed.
Accomack
(VCSFA)
Grant is fully disbursed. Grant
Department of Aviation Emporia City of Emporia Grant 151,085 2/13/2013 awarded was $162,210. Final
grant amount was $151,085.
County of
County of Accomack Wallops Research Park Grant 4,000,000 7/26/2013 Grant is fully disbursed.
Accomack
County of Giles Celanese Acetate County of Giles Grant 724,878 7/26/2013 Grant is fully disbursed.
State Route 28 Highway
Route 28 bridge
Transportation Loudoun and
widening over the Grant 5,000,000 7/26/2013 Grant is fully disbursed.
Improvement District Fairfax Counties
Dulles Toll Road
Commission
Economic Development City of Newport
Authority of the City of Liebherr Expansion News and Grant 1,000,000 1/5/2015 Grant is fully disbursed.
Newport News Hampton
1/11/2018 Grat is fully disbursed. Grant
Navy Federal Credit
County of Frederick Frederick County Grant 1,169,602 and awarded was $1,290,000. Final
Union Expansion
8/01/2018 grant amount is $1,169,602.
Virginia Commercial Rocket Lab- Venture Work is underway. Grant is
Accomack County Grant 5,000,000 11/13/2018
Space Flight Authority Class Launch Pad fully disbursed.
Operation of second
barge service at
Virginia Port Authority City of Richmond Grant 5,000,000 10/4/2018 Grant is fully disbursed.
Richmond Marine
Terminal
Economic Development Grant is fully disbursed. Grant
Authority of the City of Project Enterprise City of Hampton Grant 979,681 1/11/2021 awarded was $979,772. Final
Hampton grant amount is $979,680.78.
Economic Development
Authority of New Kent Project Solstice New Kent County Grant 2,000,000 6/28/2022 Grant is fully disbursed.
County
Work is underway, no
Stafford County Projec Mover Stafford County Grant 1,392,000 6/28/2022
disbusements made to date.
Warren County
Work is underway, no
Economic Development Project Nature Warren County Grant 155,516 6/28/2022
disbusements made to date.
Authority
Page Total $36,572,762
Prior Page Total $67,941,503
Financial Close Total $104,514,265
Attachment: Transportation Partnership Opportunity Fund (TPOF) Semi-annual Report
Period Ending June 30, 2023 Page 3 of 7
Attachment
Semiannual Report on the Transportation Partnership Opportunity Fund
Activity/Award Details to Date
Awards/Projects Pending Financial Close
Type of Date of
Recipient Project Location Assistance Amount Award Status
Decision brief was signed by Governor
City of Richmond Stone Brewery Phase II City of Richmond Grant 950,000 1/11/2018
McAuliffe. Agreement is pending.
Pending Financial Close Total $950,000
TOTAL AWARDS APPROVED BY THE GOVERNOR $105,464,265
Funding Initiatives
Funding to Virginia Commercial Space Flight Authority to provide assistance for
Appropriated in Item 431 A. and B. of Chapter 1289
construction of a hangar for unmanned vehicle operations and to support the 7,500,000
(2020 Appropriation Act), Effective July 1, 2020.
development of an improved launch team maintenance facility complex
Appropriated in Item 447.10 B of Chapter 552 (2021
Funding for various Transportation Initiatives 20,000,000 Special Session Appropriation Act), Effective July 1,
2021.
Funding Initiatives Total $27,500,000
TOTAL AWARDS/ FUNDING PROVIDED BY FUND $132,964,265
Awards/Projects Unable to Reach Financial Close
Type of Date of
Recipient Project Location Assistance Amount Award Status
TPOF loan could not be executed in
accordance with the business agreement
Spotsylvania, between VDOT, Fluor and Transurban
Flour Virginia, Inc and
Stafford, Prince at the preliminary stage of project
Transurban USA I-95/I-395 HOT Lanes Loan $10,000,000 8/22/2006
William and development under TPOF's statutory
Development, Inc.
Fairfax Counties requirements. A State Infrastructure
Bank (SIB) loan was approved for the
project and repaid at closing.
Wolseley Economic City of Newport Due to the decline in the economy the
City of Newport News Grant 2,700,000 8/22/2006
Development Project News plans for expansion were suspended.
Buchanan, Wise 2 Grants- 4/11/2007 Project was unable to receive FHWA
Coalfields Expressway
VDOT and Dickenson $5,000,000 10,000,000 and approval and the funds have been
Rockhouse Section
Counties each 2/25/2009 rescinded.
Project has become eligible for 100%
Coalfields Expressway Buchanan, Wise 2 Grants-
federal funding. TPOF funds have been
VDOT and U.S. Route 460 and Dickenson $5,000,000 10,000,000 8/12/2011
rescinded since they were no longer
Connector Counties each
needed.
Grant returned. Economic Development
I-95/ Willis Road Chesterfield
Chesterfield County Grant $5,000,000 8/16/2016 project withdrawn, no longer eligible for
Interchange County
TPOF.
Grant Returned. Scope of project
Renaissance Drive
County of Frederick Frederick County Grant 1,995,682 3/1/2017 changed and TPOF was no longer
Extension
needed.
Unable to Reach Financial Close Total $39,695,682
Attachment: Transportation Partnership Opportunity Fund (TPOF) Semi-annual Report
Period Ending June 30, 2023 Page 4 of 7
Attachment
Awards/Projects Not Receiving Award
Type of
Recipient Project Location Assistance Amount Status
The project was denied award due
County of Southeast County of
Grant $4,980,938 to ARRA funding received for
Rockingham Connector Rockingham
Port Republic Road in the area.
The fund was not open to
City of Virginia City of Virginia
Atlantic Avenue Grant 2,497,000 applications at the time of
Beach Beach
submittal.
The project was denied award
because City-controlled state
City of Virginia City of Virginia transportation funds were
Atlantic Avenue Grant 2,744,000
Beach Beach available for the project and
TPOF cannot be used to supplant
existing or programmed funds.
Not Receiving Award Total $10,221,938
Awards/Projects Not TPOF Eligible
Type of
Recipient Project Location Assistance Amount Status
The project did not meet
Virginia Port Western Freeway Commonwealth of
Grant $4,800,000 Transportation or Economic
Authority Rail Relocation Virginia
Development Evaluation Criteria.
There were several statutory
Capital Region
Holliday Properties County of Hanover Grant 5,000,000 conflicts with the application and
Center
project.
There were several statutory
The Olde Dominion
Old Dominion Ag County of conflicts with the application and
Agriculture Grant 300,000
Complex Pittsylvania project. Other funding has been
Foundation, Inc
identified for the project.
The Route 28
Rt. 28 Corridor
Highway
Improvements- Loudoun and The project did not meet the
Transportation Grant 5,000,000
Northbound Fairfax Counties Economic Development Criteria.
Improvement District
Widening
Commission
County of Prince Commuter Parking County of Prince The project did not meet the
Grant 5,000,000
William Garage William Economic Development Criteria.
Not Eligible Total $20,100,000
Attachment: Transportation Partnership Opportunity Fund (TPOF) Semi-annual Report
Period Ending June 30, 2023 Page 5 of 7
Attachment
Semiannual Report on the Transportation Partnership Opportunity Fund
Activity/Award Details to Date
Chapter 847 of the Acts of Assembly of 2007 and Chapter 780 of the Acts of Assembly of 2016
Item 449.10 and Item 453 G - $305,000,000 Appropriation
Through Item 449.10 of Chapter 847 of the Acts of Assembly of 2007, $305,000,000 was allotted to TPOF out of the $500,000,000 for the 2007
Transportation Initiative (the "Initiative") projects.
In 2008, the General Assembly, through Item 462 of Chapter 879 of the Acts of Assembly of 2008, reappropriated $180,000,000 of the
$500,000,000 back to the Commonwealth of Virginia's General Fund. To substitute for these monies, Item 459 H. of Chapter 879 of the Acts
of Assembly of 2008 authorized the issuance of $180,000,000 of Capital Projects Revenue bonds.
Item 453 G of Chapter 780 of the Acts of Assembly of 2016 dedicated the $31,070,647 that was remaining from the previous allocation to Road
Improvements at military installations and improvements at interstate rest areas throughout the Commonwealth.
Item 437 C and Item 4-1.03 of Chapter 836 of the Acts of Assembly of 2017 dedicated the any funds deposited pursuant to Item 453 G.2 of
Chapter 836 of the Acts of Assembly of 2017 to fund additional facilities at Mid-Atlantic Regional Spaceport.
The following are the 2007 TPOF's Initiative projects receiving award and their status:
Project Grant Amount Location Status
I-495 Capital Beltway HOT Lanes $157,207,586 Northern Virginia Grant is fully disbursed.
Route 58 Hillsville Bypass 77,000,000 Town of Hillsville Grant is fully disbursed.
Route 50 Widening 14,721,767 County of Fairfax Grant is fully disbursed.
The funds were paid out in August 2011
based on the grant agreement with the
Norfolk Southern Corporation (NSC) - City of Virginia City. The funds were returned in March
20,000,000
Right-of-Way Acquisition Beach 2017 because the project did not advance
and repayment was required. See
Chapter 836 (2017), Item 453 G.1.
County of
I-295/Meadowville Interchange 5,000,000 Grant is fully disbursed.
Chesterfield
Total $273,929,353
The remaining projects identified for funding through the 2007 Initiative and their respective status follow:
Project Location Status
Environmental Impact Statement (EIS) It was determined that the project did not qualify for TPOF and other funds
County of Frederick
for Route 37 - Eastern Bypass were identified to perform EIS.
A mutual agreement was reached between the City and the Secretary of
Transportation to fund the NSC ROW acquisition at $20,000,000 instead of
I-64/I-264 Interchange City of Virginia Beach the I-64/I-264 Interchange. The funds were paid out in August 2011 based
on the grant agreement with the City. The funds were returned in March
2017 because the project did not advance and repayment was required.
Attachment: Transportation Partnership Opportunity Fund (TPOF) Semi-annual Report
Period Ending June 30, 2023 Page 6 of 7
Attachment
Semiannual Report on the Transportation Partnership Opportunity Fund
Activity/Award Details to Date
The following table summarizes the current awards from the $305,000,000 appropriation:
Capitalization $305,000,000
Project Grant Amount Type of Assistance Eligibility Criteria
I-495 Capital Beltway HOT Lanes $157,207,586 Grant PPTA Project
U.S. Route 58 - Hillsville Bypass 77,000,000 Grant PPTA Project
U.S. Route 50 Widening 14,721,767 Grant Design-Build Project
NSC Right-of-Way Acquisition* 0 Grant Per FTA Requirements
I-295/Meadowville Interchange 5,000,000 Grant Design-Build Project
Road Improvements to military Item 453, G. of Chapter 780, 2016
23,110,000 Grant
installations Acts of Assembly
Item 453, G. of Chapter 780, 2016
Improvements at interstate rest areas 7,960,647 Grant
Acts of Assembly
Item 437, C. of Chapter 836, 2017
Mid-Atlantic Regional Spaceport 20,000,000 Grant
Acts of Assembly
Total Awards $305,000,000
Authorization Balance $0
*See Norfolk Southern Corporation Right-of-Way Acquisition on page 6
Attachment: Transportation Partnership Opportunity Fund (TPOF) Semi-annual Report
Period Ending June 30, 2023 Page 7 of 7
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