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Semiannual Report on the Transportation Partnership Opportunity Fund, Period Ending December 31, 2023

Summary

This is a memorandum dated March 25, 2024 from the Office of the Governor to The Honorable Jennifer B. Boysko, Kerrie Delaney, L. Louise Lucas and Luke E. Torian, with the subject Report on the Transportation Partnership Opportunity Fund (TPOF). It is the semiannual report on behalf of Governor Glenn Youngkin for the period ending December 31, 2023. It states that the Fund received $7,484,031 in interest revenue and has an uncommitted balance of $73,818,475, and that $20 million was directed to the Virginia Commercial Space Flight Authority for launch pad modifications at the Mid-Atlantic Regional Spaceport. Since inception, fifty applications related to forty separate projects requested $233,031,970, and Governors have approved awards totaling $105,464,265. An attachment tabulates awards and status.

Summary drafted by a model from the document's text below and checked by script against that text before publication. It is a navigation aid, not a reading of what the document proves. Where AI is used

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“Semiannual Report on the Transportation Partnership Opportunity Fund, Period Ending December 31, 2023.” Archived at Pandemic Darlings, https://pandemicdarlings.com/source-documents/2024-rd232-e5eacfd89d/, SHA-256 f916f2195cf82bebdea5f81a2b05ce5c805bf62f1dae5694e4f3837dc4ff5c5e.

Full text

                                   COMMONWEALTH of VIRGINIA
                                                        Office of the Governor
W, Sheppard Miller Ill
Sccrctlry ofTr,msportation


                                                              March 25, 2024
         MEMORANDUM


         TO:                  The Honorable Jennifer B. Boysko
                              The Honorable Kerrie Delaney
                              The Honorable L. Louise Lucas
                              The Honorable Luke E. Torian


                                                                      A].@ !If!a 
                                                               atts

         FROM:
                              ;;;::;;::·
                                             0
                                                           :

         SUBJECT:             Report on the Transportation Partnership Opportunity Fund


         Pursuant to Section §33.2-1529.1 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 constitute that report on behalf of Governor Glenn Youngkin for the period
         ending December 31, 2023.

         During this reporting period of July I, 2023 to December 31, 2023, the TPOF program experienced the
         following activity:

              •      The $4.8 million appropriated by Item 452 0. 2. of Chapter I of the Virginia Acts of Assembly
                     Special Session I of2023 was provided to the City of Portsmouth to be used as the local match for
                     the Complete High Street Innovation Corridor Project to provide multi-modal, complete streets
                     roadway improvements along High Street between Martin Luther King Expressway to Chestnut
                     Street.

              •      The application the Economic Development Authority of Chesterfield County ("CEDA")
                     submitted on June 26, 2023 related to the LEGO project was recommended for award by the
                     Advisory Panel on September 29, 2023. The grant in the amount of $5,000,000 was awarded by
                     Governor Youngkin on January 15, 2024.




                  Patrick Henry Building• 1111 EaH Bmad Street• Richmond, Virginia 23219  {804) 786-8032 • TTY (800) 828-1120
The Honorable Jennifer B. Boysko
The Honorable Kerrie Delaney
The Honorable L. Louise Lucas
The Honorable Luke E. Torian
The Honorable Vivian E. Watts
March 25, 2024
Page2



    •   Governor Youngkin directed$20 million from TPOF to be allocated to Virginia Commercial Space
        Flight Authority at the recommendation of the Secretary of Transportation and the Secretary of
        Commerce and Trade. The funds will be used for modifications to launch pad OA at the Mid­
        Atlantic Regional Spaceport to support new, larger rockets. The funds were disbursed in
        accordance with the December 4, 2023 Resolution of the Commonwealth Transportation Board.

    •   The Fund received$7,484,031 in interest revenue.

    •   The Fund has an uncommitted balance of$73,818,475


From the Fund's inception through December 31, 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$105,464,265. To date, the Fund has been capitalized in the amount of$537,742,515 from
the following sources:

        • $23,600,000 and$26,400,000 from the Toll Facility Revolving Account and from the Highway
          Construction Fund, respectively, pursuant to Chapter 951 of the Acts of Assembly of 2005;

        •   $305,000,000 pursuant to Chapter 847 of the Acts of Assembly of 2007 and Chapter 780 of the
            Acts of Assembly of 2016;

        • $50,000,000 made available July 1, 2011 from the Commonwealth Transportation Fund
          pursuant to Item 452 H. of Chapter 890 of the Acts of Assembly of 2011.

        • $75,000,000 made available from Virginia Transportation Infrastructure Bank pursuant to Item
          452 0.1. of Chapter I of the Virginia Acts of Assembly Special Session I of 2023.

        •   TPOF is provided with one-third 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 December 31, 2023, TPOF has
            received$57,742,515 in interest earnings.


The$305,000,000 contribution, as outlined by Chapter 847 of the 2007 Acts of Assembly and Chapter 780
of the 2016 Acts of Assembly, is targeted for specific projects while the remaining $175,000,000 and
interest earnings may be used for any eligible applicant and project or direction. The body of this report
focuses on the use of the $175,000,000, interest earnings to the fund and the dedicated revenue beginning
in 2015. The attachment provides a summary and overview of the fund in its entirety as of December 31,
2023.
The Honorable Jennifer B. Boysko
The Honorable Kerrie Delaney
The Honorable L. Louise Lucas
The Honorable Luke E. Torian
The Honorable Vivian E. Watts
March 25, 2024
Page 3



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 of the Fund.


cc:
       The Honorable Caren Merrick, Secretary of Commerce and Trade
       The Honorable Stephen E. Cummings, Secretary of Finance

Attachment
                                                                          Attachment

   Semiannual Report on the Transportation Partnership Opportunity Fun<
   Activity/Award Details to Date

   The table below summarizes the awards to date and the remaining balance form the $ l 00 milhon in capitalization as of December 31, 2023.
   Capitalizations
  July l, 2006                                     $50,000,000
  July l, 2011                                      50,000,000
  2023 Acts of Assembly Chpt I Item 45 l            75,000,000
  Interest Earnings                                 57,742,515
   Total Funding Available                       S2J2,:Z2.J
                                                                                              Award
   Project                                             Amount      Type of Assistance          Date               Eligibility Criteria
  VDOT-CFX                                           1,772,740            Grant             4/28/2006               PPTA Project
  Ci ofNeweort News                                 5,000,000            Grant              8/22/2006          Economic Develoement
  State Route 28 HTrDC                               5,000,000            Grant             8/22/2006               PPTA Project
  Town of Leesburg                                  $5,000,000            Grant             2/12/2007            Design-Build Project
  Count,¥: of Prince George                         10,000,000            Grants             5/19/2008          Economic Develoement
                                                                                              4/3/2008
  VDOT - CFX (Hawks Nest)                             9,892,200           Grants                 and                 PPT A Project
                                                                                            2/25/2009
  Count:z: of Loudoun                                 3,000,000            Grant              5/3/2010           Desi1;1n-Build Project
  Count,¥: of Accomack                                3,250,968            Grant            9/30/2010           Economic Develoement
  Virginia Comm. Seace Flight Authori!};'.            5,000,000            Grant            9/15/2011           Economic Develoement
  Ci!X of Winchester                                     47,533            Grant            12/20/2011          Economic Develoement
                                                                                            11/14/2011
  Virgmia Comm. Space Flight Authority              10,000,000            Grants                 and            Economic Development
                                                                                            1217/2012
  Count:z: of Rockingham                             5,000,000             Grant              6/5/2012          Design-Build Project
  Count:z: of Prince William                         4,978,062             Grant              6/5/2012          Design-Build Project
  Virginia Comm. Seace Flight Authorit:z:            5,000,000             Grant            1/25/2013          Economic Develoement
  Virginia Comm. Seace Flight Authori!X              5,000,000             Grant              2/5/2013         Economic Develoement
  Deeartment of Aviation                               151:085             Grant            2/13/2013          Economic Develoement
  Count:z: of Accomack                               4,000,000             Grant            7/26/2013           Design-Build Project
  Count:z: of Giles                                    724,878             Grant            7/26/2013          Economic Develoement
  Rt. 28 HTIDC                                       5,000,000             Grant            7/26/2013              PPTA Project
  EDA ofNeort News                                  1,000,000             Grant              1/5/2015         Economic Develoement
  Cit): of Richmond*                                   950,000             Grant            1/11/2018          Economic Develoement
                                                                                            1/11/2018
  County of Frederick                                 1,169,602            Grant                 and            Economic Development
                                                                                              8/1/2018
  Vir1::inia Port Authorit:z:                        5:000,000             Grant            10/4/2018          Transeortation Service
  Virj!inia Comm. Sr:ace Flij!ht Authori            5,000,000             Grant            11/13/2018         Economic Develoement
  Vir1;,1inia Comm. Seace Flight Authori            7,500,000                                7/1/2020      Chaeter 1289Item431 (a)(b)
  Transeortation Initiatives                        20,000,000                                7/l/2020      Chaeter 552 Item 447.10 !b
  Ci of Hameton                                       979,681             Grant             1/11/2021         Economic Develoement
  EDA of New Kent County                             2,000,000             Grant            6/28/2022         Economic Develor:ment
  Count:z: of Stafford                               1,392,000             Grant            6/28/2022         Economic Develoement
  EDA of Warren Countl                                 155.516             Grant            6/28/2022         Economic Develoement
  Virj!inia Comm. Seace Flij!ht Authority           20,000,000                               12/4/2023      Directed Award By Governor
  City of Portsmouth                                 4,800,000                              9/14/2023          Char:ter I Item 452 0.2
                             Total Awards        $157,764,265
                             Reductions**           1,159,775
                     Available for Award          $73,818,475

  *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 December 31, 2023                                                                                                                Page I of7
                                                                       Attachment


   Semiannual Report on the Transportation Partnership Opportunity Fum
   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      4/28i'2006   awarded was $2,000,000 Final
                                                         Counties                                                    grant amount was $1,772,740.

   State Route 28
   Highway                      Rt. 28 Corridor        Loudoun and                                        1
                                                                            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      sn212006         Granl is fully disbursed.
  Authority of the City
                             Development Project      of Gloucester
  of New ort News
  Town of Leesburg            Battlefield Parkwar    Town of Leesburg       Granl        5,000,000      2/12/2007        Grant is fullr disbursed.
                                                                                                                        Grants are fully disbursed.
                                                      Buchanan, Wise       2 Grants-                    4/312008
                            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                       212512009
                                                                                                                            was $9,892,200.
                                                                           2 Grants-
  County of Prince          Rolls-Royce Economic      County of Prince
                                                                          $5,000,000    10,000,000      51\912008       Grants are fully disbursed.
  George                     Development Project          George
                                                                             each
  Countr of Loudoun           Pacific Boulevard      Countr of Loudoun      Grant        3,000,000       5/JnOIO         Grant is fullr disbursed.

                            Mid-Atlantic Regional                                                                     Grant is fully disbursed. Grant
                                                         County of
  Counly 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      W\5/2011         Grant is fully disbursed.
                                                         Accomack
  (VCSFA)
  Virginia Commercial                                                      2 Grants-                   11114/2011
                                                         County of
  Space Flight Authority            MARS                                  $5,000,000    10,000,000         and          Grants are fully disbursed.
                                                         Accomack
  (VCSFA)                                                                    each                       121712012
                                                                                                                   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       12/20l201 I
                             Rubbermaid Products                                                                         equivalent to the first
                                 expansion                                                                         disbursement made in good faith
                                                                                                                               of award.
                            Harrisonburg Southeast       County of
  County o fRoc k.mg ham                                                    Grant        5,000,000      615/2012         Grant 1s fully disbursed.
                                  Connector             Rockin11:ham

                                                                           2 Grants-
  County of Prince          USMC Heritage Center      County of Prince    $2,242,350
                                                                                        4,978,062       6l51'2012        Grant is fully disbursed.
  William                      Improvements              William              and
                                                                          $2,735,712

                                                                          Page Total   iD2,2:U ,SD.l



Attachment: Transportation Partnership Opportunity Fund (TPOF) Semi-annual Report
Period Endmg December 31, 2023                                                                                                                    Page 2 of7
                                                                       Attachment

   Semiannual Report on the Transportation Partnership Opportunity Fune
   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    l/25J2013
                                                         Accomack                                                   grant. Grant is fully disbursed.
  (VCSFA)
   Virginia Commercial
                                                         County of
   Space Flight Authority            MARS                                   Grant        5,000,000     21512013        Grant is fully disbursed.
                                                         Accomack
    VCSFA)
                                                                                                                    Grant is fully disbursed. Grant
  Department of Aviation            Emporia            City of Emporia      Grant         151,085     211312013     awarded was $162,210. Final
                                                                                                                     rant amount was $151,085.
                                                         County of
  County of Accomack          Wallops Research Park                         Grant        4,000,000    7/2612013        Grant is fully disbursed.
                                                         A   ma k
  Countr 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    7/2612013        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     [1512015        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    11113l2018
  S(!ace Flight Authoritl'.    Class Launch Pad                                                                           fulll'. disbursed.
                               Operation of second
                                 barge service at
  Virginia Port Authority                             City of Richmond      Grant        5,000,000    10/412018        Grant is fully disbursed
                                Richmond Marine
                                    T m1inal

  Economic Development                                                                                              Grant is fully disbursed. Grant
  Authority of the City of      Project Enterprise    City of Hampton       Grant         979,681     Ill l/2021    awarded was $979,772. Final
  Hampton                                                                                                             grant amount is $979,681

  Economic Development
  Authority of New Kent          Project Solstice     New Kent County       Grant        2,000,000    6l28.'2022       Grant is fully disbursed.
  County

                                                                                                                      Work is underway, grants
  Stafford County                 Projec Mover        Stafford County       Grant        1,392,000    6/28/2022
                                                                                                                      disbursed total $644,440.

  Warren County
                                                                                                                        Work is underway, no
  Economic Development           Project Nature        Warren County        Grant         155,516     6/28J2022
                                                                                                                     disbusements made to date.
  Authority


                                                                           Page Total   $36,572,762
                                                                     Prior Page Total   $67,941,503
                                                               Financial Close Total    :iH,5H,265




Attachment; Transportation Partnership Opportunity Fund (TPOF) Semi-annual Report
Period Ending December 31, 2023                                                                                                              Page 3 of7
                                                                          Attachment

   Semiannual Report on the Transportation Partnership Opportunity Fund
   Activity/Award Details to Date

   A wards/Projects Pending Financial Close
                                                                         Type of                          Date of
   Recipient                       Project               Location       Anistance          Amount         Award                       Status

                                                                                                                      Decision brief was signed by Governor
   City of Richmond        Stone Brewery Phase n City of Richmond          Grant           950,000       1/1112018
                                                                                                                       McAuhffe. Agreement is pending
                                                     Pending Financial Close Total      $ 9 50, 0 00
                                                                                      == = = = = = ==

                        TOTAL AWARDS APPROVED BY THE GOVERNOR $105,464,265


                                                                                    or
                                                                                                        Appropriated in Item 431 A. and B. of Chapter 1289
                                                                                          7,500,000
                                                                                                        (2020 Appropriation Act), Effective July I, 2020.
                                                                                                        Appropriated in Item 447. IO B of Chapter 552 (2021
   Funding for various Transportation Initiatives                                        20,000,000     Special Session Appropriation Act), Effective July 1,
                                                                                                        2021.
  Funding to the City of Porthsmouth to be used as the local match for the
                                                                                                        Appropriated in Item 452 0.2 of Chapter I (2023
  Complete High Street Innovation Corridor Improvement Project to provide multi­
                                                                                          4,800,000     Special Session Appropriation Act), Effective July l,
  modal, complete streets roadway improvements along High Street between
                                                                                                        2023.
  Martin Luther King Expressway to Chestnut Street
                                                          Funding Initiatives Total      $32,300,000

  Directed Funds
                                                                                                        Directed by the Governor at the Resolution of the
   Funds to Virginia Commercial Space Flight Authority to support modifications
                                                                                         20,000,000     Commonwealth Transportation Board December 4,
  to launch pad OA at the Mid-Atlantic Regional Spaceport Project
                                                                                                        2023
                                                             Directed Funds Total        $20,000,000

                        TOTAL AWARDS/ FUNDING PROVIDED BY FUND                           $157,764,265

  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          1-95/1-395 HOT Lanes                             Loan          $10,000,000    8!2212006
                                                       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 dechne 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-                      4111/2007     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                         2125'2009                  rescinded,
                                                                                                                      Project has become eligible for I 00%
                           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     8112/201 l
                                                                                                                       rescinded since they were no longer
                                 Connector          Counties               each
                                                                                                                                     needed.
                                                                                                                  Grant returned Economic Development
                              1-95/ Willis Road        Chesterfield
  Chesterfield County                                                     Grant          $5,000,000     8/1612016 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      311/2017       changed and TPOF was no longer
                                Extension
                                                                                                                                    needed.
                                             Unable to Reach Financial Close Total       i.12,!i2.,u
Attachment: Transportation Partnership Opportunity Fund {TPOf) Smi-annual Report
Period Ending December 31, 202 3                                                                                                                        Page 4 of7
                                                                   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 A venue                              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       $1Q,22l.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
                                                                                                      Develoement Evaluation Criteria.

                                                                                                        There were several statutory
                            Capital Region
   Holliday Properties                          County of Hanover         Grant        5,000,000      conflicts with the application and
                               Center
                                                                                                                     ro·ect.

                                                                                                         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                     Garae                William                                           Economic Develo2ment Criteria.
                                                                 Not Eligible Total   $20 J011,IHHI




Attachment: Transportation Partnership Opportunity Fund (TPOF) Semi-annual Report
Period Ending December 31, 2023                                                                                                  Page 5 of7
                                                                      Attachment

   Semiannual Report on the Transportation Partnership Opportunity Fund
   Activity/A ward 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- l.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
   1-495 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 SO 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. l.

                                                                            County of
  1-295/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
  1-64/1-264 Interchange                     City of Virginia Beach    the 1-6411-264 Interchange. The funds were paid out in August 2011 based
                                                                        on the grant agreement with the City. The funds were returned in March
                                                                         20 I 7 because the project did not advance and repayment was required.




Attachment· Transportation Partnership Opportunity Fund (TPOF) Semi-annual Report
Period Ending December 31, 2023                                                                                                                Page 6 of7
                                                                         Attachment

   Semiannual Report on the Transportation Partnership Opportunity Fund
   Activity/A ward 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
   1-495 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
   1-295/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 43 7, C. of Chapter 836, 20 l 7
   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: Transpor1ation PaT1ncrship Opportunity Fund (TPOF) Semi-annual RcpoT1
Period Ending December 31, 2023                                                                                                     Page 7 of7


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