I-66 Multimodal Study Final Report - Virginia Department of ...

Potential Funding ApproachesTable 5.2 Projected Revenues to the Transportation Trust Fund (FY 2012)(continued)Tax MechanismProjected Revenue (in Thousands)Recordation Tax $34,600Interest Earnings $27,800Misc Taxes, Fees, and Revenues $12,900Total State Taxes and Fees $2,431,400Source: Commonwealth Transportation Fund Revenue Report, September 2011.For transit in Northern Virginia, the annual operating, maintenance, and investment spendingis approximately $882 million dollars annually according to a presentation by the NorthernVirginia Transportation Commission (NVTC) in November 2011. 1 Local sources (fares,2.1 percent gas tax, and local subsidies) provide about 60 percent. Several agencies are responsiblefor planning, operating, and funding public transit in Northern Virginia. Table 5.3 providesa summary for the I-66 corridor (omits some providers discussed in the NVTCpresentation) and discusses the levels of funding involved with each.Table 5.3Summary of Agencies Planning, Operating, and Funding Public Transitin the I-66 Corridor, Inside the BeltwayOrganizationFederal and StateFederal Transit Administration (FTA)Federal Highway Administration (FHWA)Federal Railroad Administration (FRA)Department of Rail and PublicTransportation (DRPT)Virginia Department of TransportationPrimary Responsibilities (see Note)Federal formula and discretionary funding and safety regulation.For FY 2011, NVTC identified $161 million in Federal funds spenton transit, or 19% of the total $840 million spent on operations andcapital.Flexible Federal funding available for transit.Federal loans and grants for passenger rail systems and safety regulation.These have been utilized by VRE to purchase railcars.State transit formula and discretionary grants, statewide planning,technical assistance. For FY 2011, expected funding for NVTC, VRE,and WMATA totaled $166 million.State funding and in Northern Virginia – planning, technical assistance,and ITS architecture. Maintains Northern Virginia’s TIP andstatewide SIP. Manages the HOV lanes used by transit systems andcompiles performance data.1 NVTC, How Public Transportation is Organized in Northern Virginia, Presentation dated November2011, http://www.thinkoutsidethecar.com/pdfs/Research%20 Documents/Info%20Materials%20and%20Guides/How%20Public%20Transportation%20is%20Organized%20in%20NoVA_2011%20[Compatibility%20Mode].pdf, accessed June 4, 2012.5-4 I-66 Multimodal Study