Virginia Code 33.2-368: Financial plans for transportation construction projects.
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For transportation construction projects valued in excess of $100 million, the Commissioner of Highways shall require that a financial plan be prepared and presented to the Board for its review. This plan shall include, but not be limited to, the following: (i) a complete cost estimate for all major project elements, (ii) an implementation plan with the project schedule and cost-to-complete information presented for each year, (iii) identified revenues by funding source available each year to meet project costs, (iv) a detailed cash-flow analysis for each year of the proposed project, and (v) efforts to be made to ensure maximum involvement of private enterprise and private capital.
Terms Used In Virginia Code 33.2-368
- Board: means the Commonwealth Transportation Board. See Virginia Code 33.2-100
- Commissioner of Highways: means the individual who serves as the chief executive officer of the Department of Transportation. See Virginia Code 33.2-100