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NC 540 Bonus Allocation Programming
Alex Rickard /MPO Staff
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The Strategic Transportation Investments law (STI) creates incentives for local government participation in funding of roadway construction and tolling of highways by establishing “bonus allocation” funding. Bonus allocation funding is provided to a MPO when either local funding is provided for a highway project or tolling is enacted. As a result of this provision, the MPO has received an allocation of one hundred million dollars for the tolling of NC 540 in southern Wake County, referenced in the State Transportation Improvement Program (STIP) as R-2721A, R-2721B, and R-2828.
A methodology has been developed to select projects within the MPO for programming with bonus allocation funds. This draft methodology has been released for public review and comment and is posted on the MPO’s website. A public hearing is scheduled for April 15th and the Executive Board is expected to take final action on approving the methodology with possible revisions.
Staff will present the projects recommended for programming with the NC 540 bonus allocation funds based on the draft methodology. This project list will be posted for public comment and review with a public hearing scheduled for the Executive Board meeting on April 15, 2020. The Executive Board is expected to approve the project list for programming with NC 540 bonus allocation funds with possible revisions.
Requested Action: Action Conduct public hearing. Approve the prioritized list of projects for programming with the NC 540 bonus allocation funds.