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Policy for Use of VDOT Revenue Sharing
It shall be the policy of the Franklin County Board of Supervisors to allow use of the VDOT Revenue Sharing Program to assist with the construction, improvement and acceptance of certain private streets, and improvement of certain public streets providing that all prerequisites and priorities are satisfied.
I. OBJECTIVE OF POLICY:
It shall be the objective of this policy to provide a means for allowing the acceptance of certain qualifying private roads into the VDOT Secondary Road System for maintenance purposes, where no other means of acceptance is available and the requirements and priorities of this policy can be met.
II. REQUIREMENTS
1. Eligibility of Private and Public Road Projects for Acceptance.
Private road projects must be eligible for acceptance into the VDOT Secondary Road System upon completion of subject improvements. Public road project acceptability will depend on the assessment of VDOT.
2. Right of Way Availability.
All right-of-way must be provided by the owners and/or users, and will not be provided by State or County unless specifically noted.
3. Availability of Private Funds.
Matching private funds must be available with which to finance approximately half (50%) of the construction costs. Such funds shall be deposited in an escrow account acceptable to VDOT and the Board prior to advertisement of any project under this policy.
4. Availability of VDOT Revenue Sharing Funds.
Funds must be available from the VDOT Revenue Sharing Program to finance approximately half (50%) of the construction costs.
5. Funding of Survey(s) and Utility Relocation(s)
Any costs associated with completion of any survey or utility relocation required but not financed by VDOT must be available from the citizens requesting the road upgrade in (*) private funds or other sources acceptable to the Board.
6. Bid Costs, Change Orders and Adjustments.
There must be private funds or other sources acceptable to the Board to pay for any other cost including any overage of bids above VDOT estimates, change orders and adjustments.
III. PRIORITIES:
In accordance with the formula established by the Board and the VDOT Residency Office as amended hereafter, proposed VDOT Revenue Sharing Projects will be prioritized based on the following considerations and criteria.
1. Number of Homes Served.
The greater the number of homes served the higher the priority.
2. Density.
The greater the number of homes served per road mile, the higher the priority.
3. Age of developments.
The older the development the higher the priority.
4. Unit cost of road.
The lower the unit cost of the road in dollars per lineal foot, the higher the priority.
5. School Bus and Mail Service.
The greater the need for school bus and/or mail service, or improved access for these services, the higher the priority.
6. Existing Development vs. Future Development Potential.
The greater the proportion of existing development on the property, the higher the priority. The more potential the project has to open land for future development, the lower the priority.
It shall be the policy of the Board to avoid use of the VDOT Revenue Sharing program on any property which is deemed to have significant future development potential.
7. Ranking of Projects.
To determine the comparative ranking (or merit) of projects under this policy, each project should be evaluated according to the point factor formula established for this purpose by the Board and the VDOT Residency Office.
IV. APPLICATION:
Prior to the advertisement of any project under this policy, the applicants shall submit a letter of application accompanied by a refundable application fee of $2,500 or a bond in the same amount which shall be applied to project costs. This letter shall confirm that the required escrow account, set at an account established by VDOT and the Board, has been or will be established at a commercial bank by a fixed date prior to the date of project advertisement.
Policy on Revenue Sharing/bos
Adopted 2/18/97; Revised 8/28/97; Revised 9/9/97; Revised 12-18-2001; Revised 10-19-2004; Revised 11-16-2004 Revised 7-19-2005