Report on the Transportation Partnership Opportunity Fund (January 31, 2025)
Summary
This January 31, 2025 memorandum from the Secretary of Transportation reports on the Transportation Partnership Opportunity Fund (TPOF) for the period ending December 31, 2024, as the Code of Virginia requires the Governor to submit semiannual reports. It states that an agreement with the Economic Development Authority of Chesterfield County for improvements to the Meadowville Road Corridor related to the LEGO project was executed on July 11, 2024, with a grant in the amount of $5,000,000. It also states that Governor Youngkin directed $30,100,000 from TPOF to the City of Suffolk for the Route 460 Road Improvement Project. It reports an uncommitted balance of $81,400,752 and that, since the inception of the Fund, governors have approved awards totaling $108,766,705.
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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“Report on the Transportation Partnership Opportunity Fund (January 31, 2025).”
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COMMONWEALTH of VIRGINIA
Office of the Governor
W. Sheppard Miller Ill
Secretary ,l( Tr;mipon,111on
January 31, 2025
MEMORANDUM
TO: The Honorable Jennifer B. Boysko
The Honorable Karrie Delaney
The Honorable L. Louise Lucas
The Honorable Luke E. Torian
The Honorable Vivian E. Watts
FROM: W. Sheppard Miller, III
Secretary of Transportation
SUBJECT: Report on the Transportation Partnership Opportunity Fund
Pursuant to Section §33.2-1529. l 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 December 31, 2024.
During this reporting period of July 1, 2024 to December 31, 2024, the TPOF program experienced
the following activity:
• An Agreement with the Economic Development Authority of Chesterfield County
("CEDA") was executed on July 11, 2024, to assist with improvements to the Meadowville
Road Corridor between Interstate 295 and the roundabout with Meadowville Technology
Parkway related to the LEGO project. The grant in the amount of $5,000,000 was awarded
by Governor Youngkin on January 15, 2024.
• Governor Youngkin directed $30,100,000 from TPOF to the City of Suffolk at the
recommendation of the Secretary of Transportation and the Secretary of Commerce and
Trade. The CTB allocated the funds on July 16, 2024.The funds will be used for the Route
460 Road Improvement Project to support the Port 460 Logistics Center development. The
funds will be provided on a reimbursement basis after the Department and the City execute
an agreement.
Pamck Henry Bu1ldmg • 1111 East Broad Street• Richmond, Vfrgtn1a 23219 • (804) 786-8032 • TTY (800) 828-1120
The Honorable Jennifer B. Boysko
The Honorable Karrie Delaney
The Honorable L. Louise Lucas
The Honorable Luke E. Torian
The Honorable Vivian E. Watts
January 31, 2025
Page 2
• Washington County resubmitted an application on August 28, 2024, requesting a grant in
the amount of $2,000,000 to assist with transportation improvements to King Mill Pike
Road and Jordan Lane in connection with the Kings Mill Residential Housing
Development project. The project does not meet the minimum economic development
criteria of the Commonwealth’s Opportunity Fund or the Virginia Investment Partnership
Grant Program. This is a requirement for meeting the minimum eligibility criteria of the
fund and therefore was not advanced.
• The Fund received $9,549,524 in interest revenue for the 1st quarter of the year.
• The Fund has an uncommitted balance of $81,400,752
From the Fund’s inception through December 31, 2024, fifty-two applications related to forty-one
separate projects have been received requesting a total of $237,031,970 in TPOF assistance.
Governors have approved awards totaling $108,766,705 and directed $50,100,000 to projects.
To date, the Fund has been capitalized in the amount of $589,737,911 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 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 O.1. of Chapter 1 of the Virginia Acts of Assembly Special Session I of
2023;
• Up to $90,000,000, no more than $15,000,000 in any individual year, shall be provided
out of the revenue of the Commonwealth Transportation Fund in the Six-Year Financial
Plan adopted prior to July 1, 2023 for fiscal years 2025 through 2030 pursuant to Item
438 K.1 of Chapter 2 of the Virginia Acts of Assembly Special Session I of 2024; TPOF
received the first transfer of $15,000,000 in July 2024.
The Honorable Jennifer B. Boysko
The Honorable Karrie Delaney
The Honorable L. Louise Lucas
The Honorable Luke E. Torian
The Honorable Vivian E. Watts
January 31, 2025
Page 3
• 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, 2024, TPOF has received $94,737,911 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, was targeted for specific projects while the remaining
$190,000,000 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 $190,000,000, 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, 2024.
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 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 December 31, 2024.
Capitalizations
July 1, 2006 $50,000,000
July 1, 2011 50,000,000
July 1, 2023 75,000,000
July 1, 2024 15,000,000
Interest Earnings 94,738,116
Total Funding Available $284,738,116
Project Amount Type of Assistance Award 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 and
VDOT – CFX (Hawks Nest) 9,892,200 Grants 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 Economic Development
and 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
1/11/2018
County of Frederick 1,169,602 Grant Economic Development
and 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)
EDA of the 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 644,440 Grant 6/28/2022 Economic Development
EDA of Warren County 155,516 Grant 6/28/2022 Economic Development
City of Portsmouth 4,800,000 - 7/1/2023 Chapter 1 Item 452 O.2
Virginia Comm. Space Flight Authority 20,000,000 - 12/4/2023 Directed Award By Governor
EDA of Chesterfield County 5,000,000 Grant 1/15/2024 Economic Development
Virginia Comm. Space Flight Authority 11,000,000 - 5/13/2024 Chapter 1 Item 452.O.3
City of Suffolk** 30,100,000 - 6/28/2024 Directed Award By Governor
Total Awards $202,166,704
Reductions* 1,170,660
Available for Award $81,400,752
*FY 2009-2024 Indirect Costs and Governor's FY 2010 Operational Efficiencies Reduction
**Agreement Pending
Attachment: Transportation Partnership Opportunity Fund (TPOF) Semi-annual Report
1
Period Ending December 31, 2024
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
Grant is fully disbursed. Grant
Buchanan, Wise and
VDOT Coalfields Expressway Grant 1,772,740 4/28/2006 awarded was $2,000,000. Final
Dickenson Counties
grant amount was $1,772,740.
State Route 28 Highway
Rt. 28 Corridor Loudoun and Fairfax
Transportation District Grant $5,000,000 8/22/2006 Grant is fully disbursed.
Improvements Counties
Commission
Economic Development Canon Virginia, Inc. City of Newport
Authority of the City of Economic Development News and County of Grant $5,000,000 8/22/2006 Grant is fully disbursed.
Newport News Project Gloucester
Town of Leesburg Battlefield Parkway Town of Leesburg Grant 5,000,000 2/12/2007 Grant is fully disbursed.
2 Grants- Grants are fully disbursed. Grants
Coalfields Expressway Buchanan, Wise and 4/3/2008 and
VDOT $5,000,000 9,892,200 awarded were $10,000,000. Final
Hawks Nest Section Dickenson Counties 2/25/2009
each grant amount was $9,892,200.
2 Grants-
Rolls-Royce Economic County of Prince
County of Prince George $5,000,000 10,000,000 5/19/2008 Grants are fully disbursed.
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 Accomack Spaceport (MARS) – County of Accomack Grant 3,250,968 9/30/2010 awarded was $3,427,412. Final
Orbital Sciences Corp. grant amount was $3,250,968.
Virginia Commercial
Space Flight Authority MARS County of Accomack Grant 5,000,000 9/15/2011 Grant is fully disbursed.
(VCSFA)
Virginia Commercial 2 Grants- 11/14/2011
Space Flight Authority MARS County of Accomack $5,000,000 10,000,000 and Grants are fully disbursed.
(VCSFA) each 12/7/2012
The City was unable to complete
Monticello Drive original project due to ROW issues.
City of Winchester Expansion- Rubbermaid City of Winchester Grant 47,533 12/20/2011 Grant amount is equivalent to the
Products expansion first 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-
USMC Heritage Center County of Prince $2,242,350
County of Prince William 4,978,062 6/5/2012 Grant is fully disbursed.
Improvements William and
$2,735,712
Virginia Commercial
Loan has been converted to a grant.
Space Flight Authority MARS County of Accomack Grant 5,000,000 1/25/2013
Grant is fully disbursed.
(VCSFA)
Virginia Commercial
Space Flight Authority MARS County of Accomack Grant 5,000,000 2/5/2013 Grant is fully disbursed.
(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.
Page Total $78,092,588
Attachment: Transportation Partnership Opportunity Fund (TPOF) Semi-annual Report
2
Period Ending December 31, 2024
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
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
Transportation Route 28 bridge widening Loudoun and
Grant 5,000,000 7/26/2013 Grant is fully disbursed.
Improvement District over the Dulles Toll Road Fairfax Counties
Commission
Economic Development
City of Newport
Authority of the City of Liebherr Expansion Grant 1,000,000 1/5/2015 Grant is fully disbursed.
News and Hampton
Newport News
1/11/2018 Grant 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 fully
Accomack County Grant 5,000,000 11/13/2018
Space Flight Authority Class Launch Pad 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
Huntington Ingalls
Authority of the City of City of Hampton Grant 979,681 1/11/2021 awarded was $979,772. Final grant
Industries Expansion
Hampton amount is $979,681.
Economic Development Establishment of
Authority of New Kent AutoZone Distribution New Kent County Grant 2,000,000 6/28/2022 Grant is fully disbursed.
County Center
Grant is fully disbursed. Grant
Establishment of DHL
Stafford County Stafford County Grant 644,440 6/28/2022 awarded was $1,392,000. Final
Supply Chain Facility
Grant amount is $644,440.
Establishment of Nature's
Warren County Economic Work is underway, no
Touch Processing and Warren County Grant 155,516 6/28/2022
Development Authority disbusements made to date.
Distribution Facility
Chesterfield Economic Establishment of LEGO Work is underway, no
Chesterfield County Grant 5,000,000 1/15/2024
Development Authority Distribution Center disbusements made to date.
Page Total $30,674,117
Prior Page Total $78,092,588
Financial Close Total $108,766,705
Awards/Projects Pending Financial Close
Type of Date of
Recipient Project Location Assistance Amount Award Status
There are not any projects pending Financial Close.
Pending Financial Close Total $0
TOTAL AWARDS APPROVED BY THE GOVERNOR $108,766,705
Attachment: Transportation Partnership Opportunity Fund (TPOF) Semi-annual Report
3
Period Ending December 31, 2024
Attachment
Semiannual Report on the Transportation Partnership Opportunity Fund
Activity/Award Details to Date
Funding Initiatives
Recipient Amount Status
Funding to Virginia Commercial Space Flight Authority to provide assistance for
Appropriated in Item 431 A. and B. of Chapter 1289 (2020
construction of a hangar for unmanned vehicle operations and to support the development 7,500,000
Appropriation Act), Effective July 1, 2020.
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 to the City of Porthsmouth to be used as the local match for the Complete High
Street Innovation Corridor Improvement Project to provide multi-modal, complete streets Appropriated in Item 452 O.2 of Chapter 1 (2023 Special
4,800,000
roadway improvements along High Street between Martin Luther King Expressway to Session Appropriation Act), Effective July 1, 2023.
Chestnut Street
Funding to Virginia Commercial Space Flight Authority to effectuate the purchase of a
Appropriated in Item 452 O.3 of Chapter 1 (2024 Special
site, apporoximately 545 acres, adjacent to the NASA Wallops Flight Facility to support 11,000,000
Session Appropriation Act).
development and prevent encrochment at the launch pad area.
Funding Initiatives Total $43,300,000
Directed Funds
Recipient Amount Status
Directed by the Governor at the Recommendation of the
Funds to Virginia Commercial Space Flight Authority to support modifications to launch
20,000,000 Secretary of Transportation and Secretary of Commerce and
pad 0A at the Mid-Atlantic Regional Spaceport Project
Trade. Allocated by CTB on December 4, 2023.
Directed by the Governor at the Recommendation of the
Funding to the City of Suffolk for the Route 460 Road Improvement Project to support
30,100,000 Secretary of Transportation and Secretary of Commerce and
the Port 460 Logistics Center development.
Trade. Allocated by CTB on July 16, 2024.
Directed Funds Total $50,100,000
TOTAL AWARDS/ FUNDING PROVIDED BY FUND $202,166,705
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,
Flour Virginia, Inc and between VDOT, Fluor and Transurban at the
Stafford, Prince
Transurban USA I-95/I-395 HOT Lanes Loan $10,000,000 8/22/2006 preliminary stage of project development
William and Fairfax
Development, Inc. under TPOF's statutory requirements. A
Counties
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 plans
City of Newport News Grant 2,700,000 8/22/2006
Development Project News for expansion were suspended.
2 Grants- 4/11/2007
Coalfields Expressway Buchanan, Wise and Project was unable to receive FHWA
VDOT $5,000,000 10,000,000 and
Rockhouse Section Dickenson Counties approval and the funds have been rescinded.
each 2/25/2009
Coalfields Expressway 2 Grants- Project has become eligible for 100% federal
Buchanan, Wise and
VDOT and U.S. Route 460 $5,000,000 10,000,000 8/12/2011 funding. TPOF funds have been rescinded
Dickenson Counties
Connector each since they were no longer needed.
Grant returned. Economic Development
I-95/ Willis Road
Chesterfield County Chesterfield County Grant $5,000,000 8/16/2016 project withdrawn, no longer eligible for
Interchange
TPOF.
Renaissance Drive Grant returned. Scope of project changed and
County of Frederick Frederick County Grant 1,995,682 3/1/2017
Extension TPOF was no longer needed.
Grant returned. Unable to execute grant
City of Richmond Stone Brewery Phase II City of Richmond Grant 950,000 1/11/2018
agreement with Department.
Unable to Reach Financial Close Total $40,645,682
Attachment: Transportation Partnership Opportunity Fund (TPOF) Semi-annual Report
4
Period Ending December 31, 2024
Attachment
Awards/Projects Not Receiving Award
Type of
Recipient Project Location Assistance Amount Status
The project was denied award due to
County of
County of Rockingham Southeast Connector Grant $4,980,938 ARRA funding received for Port
Rockingham
Republic Road in the area.
City of Virginia The fund was not open to applications
City of Virginia Beach Atlantic Avenue Grant 2,497,000
Beach at the time of submittal.
The project was denied award
because City-controlled state
City of Virginia transportation funds were available
City of Virginia Beach Atlantic Avenue Grant 2,744,000
Beach 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
Western Freeway Commonwealth of
Virginia Port Authority Grant $4,800,000 Transportation or Economic
Rail Relocation Virginia
Development Evaluation Criteria.
Capital Region There were several statutory conflicts
Holliday Properties County of Hanover Grant 5,000,000
Center with the application and project.
There were several statutory conflicts
The Olde Dominion
Old Dominion Ag County of with the application and project.
Agriculture Foundation, Grant 300,000
Complex Pittsylvania Other funding has been identified for
Inc
the project.
The Route 28 Highway Rt. 28 Corridor
Transportation Improvements- Loudoun and Fairfax The project did not meet the
Grant 5,000,000
Improvement District Northbound Counties Economic Development Criteria.
Commission Widening
County of Prince Commuter Parking County of Prince The project did not meet the
Grant 5,000,000
William Garage William Economic Development Criteria.
2 Grants-
The project did not meet the
Washington County King Mill Pike Washington County $2,000,000 4,000,000
Economic Development Criteria.
Each
Not Eligible Total $24,100,000
Attachment: Transportation Partnership Opportunity Fund (TPOF) Semi-annual Report
5
Period Ending December 31, 2024
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 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 City.
Norfolk Southern Corporation (NSC) - City of Virginia The funds were returned in March 2017
20,000,000
Right-of-Way Acquisition Beach 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) for It was determined that the project did not qualify for TPOF and other funds were
County of Frederick
Route 37 - Eastern Bypass 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 the I-
I-64/I-264 Interchange City of Virginia Beach 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
6
Period Ending December 31, 2024
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
Item 453, G. of Chapter 780, 2016 Acts
Road Improvements to military installations 23,110,000 Grant
of Assembly
Item 453, G. of Chapter 780, 2016 Acts
Improvements at interstate rest areas 7,960,647 Grant
of Assembly
Item 437, C. of Chapter 836, 2017 Acts of
Mid-Atlantic Regional Spaceport 20,000,000 Grant
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
7
Period Ending December 31, 2024
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