LAST UPDATED:

As of Feb. 16, 2017

DRAFT Tentative Budget

 

PROJECT COMPONENT:                PROJECTED ESTIMATE (VDOT PCES):

Preliminary Engineering (PE)                         $371,128

Right of Way (ROW)                                       $275,071

Construction (CN)                                        $3,407,093

Total Estimate:                                          $4,053,292.00

 

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TSP Federal Grant:                                    $2,025,427

 

Demonstration Funds:   

FEDERAL                                                   $1,620,341.60                80% maximum TSP Grant Reimbursement

 

Local Project Contributions:                 

TOWN                                                        $405,085.40                   20% minimum Grant Match Contributions

                                                                   $976,515                        Revenue Sharing Funds (as needed) - 50% Match

Town Total:                                     up to $1,318,600.40

 

State Project Allocations:

VDOT                                                         $1,953,030                     State of Good  Repair Funds (No Match)

VDOT                                               up to $976,515                        Revenue Sharing Funds (as needed) - 50% Match

 

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TOTAL PROJECT BUDGET:       $5,931,487 Available

 

 

 

 

 

 

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