Local Assistance Division

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Economic Development Access Program Checklist

Please note: The State Environmental Review Process (SERP) must be conducted and completed prior to initiating work on all state-funded projects.

Funding

• Available to counties, cities, certain towns and regional industrial facility authorities
• Maximum allocation within the fiscal year - $300,000 unmatched and up to $150,000 in matching state funds

Type of project

• Regular project (to a qualifying establishment)
• Requires determination of eligibility
• Requires documentation of eligible capital outlay
  
  
• Bonded project
• Requires determination of site eligibility
• Requires provision of acceptable surety by locality for five year period beginning with date of Commonwealth Transportation Board (CTB) allocation

Request and project information submittal

• Locality provides appropriate resolution request from governmental body and completed State Environmental Review  Process (SERP) acknowledgement form
• For a project to a "Qualifying Establishment," information provided must include a description of proposed company/development


• Investment
• Facilities
• Target dates for completion/operation
• Number of employees
• Types of products manufactured


• Property description (e.g., plat and location map)
• Project description
• Project estimate
• Project administration responsibilities

Local Assistance’s review and recommendation

• The Commonwealth Transportation Board (CTB) meeting agenda is finalized two weeks prior to its meeting.

CTB’S review

• The CTB meeting is usually held the third Thursday of each month.

Project Approval

• Agreement between the locality and VDOT
• May be necessary even if project is to be administered by VDOT
• Required if project is to be administered by locality


• Funds authorized - CTB-approved project allocation will be authorized for expenditure upon completion of contingencies in resolution.