Financial Plans

Both state and federal code require financial plans for certain transportation projects. 

Section §33.2-368 of the Code of Virginia requires a financial plan for transportation construction projects with an estimated total cost greater than $100 million. 

In addition, 23 U.S.C. 106(h) and (i) of the Surface Transportation Act, Moving Ahead for Progress in the 21st Century (MAP-21), requires a financial plan for federal-aid projects over $100 million.  

For projects exceeding $500 million, which are classified as major projects, the financial plan has additional requirements.

A financial plan is a comprehensive document that reflects the project’s scope, schedule, cost estimate, and funding structure to provide reasonable assurance that there will be sufficient funding available to implement and complete the entire project, or a fundable phase of the project, as planned.   

The financial plan consists of an initial financial plan and annual updates.

Current Plans

Project

District

Responsible party

Financial plan

Annual update

I95/Route 630 Reconstruction and Widening Fredericksburg VDOT

PDF

PDF
Coalfields Expressway (P3) Bristol VDOT

PDF

PDF

Dominion Boulevard / Steel Bridge

Hampton Roads

Chesapeake

PDF

PDF

Elizabeth River Tunnels (P3) Statewide Elizabeth River Crossing - VDOT   PDF

Intermodal Connector

Hampton Roads

Eastern Federal Lands

PDF

PDF

Interstate 64 - Segment 1

Hampton Roads

VDOT

PDF

PDF

Interstate 64 - Segment 2 Hampton Roads VDOT PDF PDF
I-264 Interchange Improvements – 64 WB Ramp to 264 EB Hampton Roads VDOT PDF  
I-95 HOV/HOT Lanes Project (P3)   Northern Virginia 95 Express Lanes-VDOT   PDF

Loudoun County Parkway

Northern Virginia

VDOT

PDF

PDF

Military Highway Hampton Roads VDOT PDF PDF

Route 58 (P3)

Salem

VDOT

PDF

PDF

 I-264/Witchduck Road Interchange and Ramp (C-D Road)

Hampton Roads

VDOT

PDF

 

Rappahannock River Crossing SB I-95 CN Lanes

Fredericksburg

VDOT

PDF


If you have any questions about the financial plans, contact Laura Farmer at 804-786-3096 or laura.farmer@vdot.virginia.gov.

Page last modified: Aug. 22, 2017