The N.C. Department of Transportation has taken another step forward in the implementation of the Strategic Mobility Formula – the department’s new method for funding transportation projects around the state. The N.C. Board of Transportation at their monthly meeting today approved recommended project scoring criteria that will go to the Joint Legislative Transportation Oversight Committee for their approval. This scoring criteria is necessary for the prioritization of projects under the Strategic Mobility Formula. *For more information about Strategic Mobility Formula*
Scoring criteria was approved not only for highway projects, but also for aviation, bicycle and pedestrian transportation, ferry, public transportation and rail project scoring. Criteria for each mode of transportation can be found at http://www.ncdot.gov/download/about/board/bot/documents/Prioritization.pdf
The Board of Transportation was instructed to make these recommendations to the Joint Legislative Transportation Oversight Committee following the signing of the Strategic Transportation Investments Law by Governor Pat McCrory on June 26, 2013.
The Strategic Mobility Formula replaces the state’s outdated Equity Formula, which was implemented in 1989 and did not provide sufficient flexibility to meet North Carolina’s current needs. NCDOT’s previous 10-year plan included 175 projects and created 174,000 jobs. The new formula will fund at least 260 projects and create more than 240,000 jobs over the next 10 years.
The Strategic Mobility Formula takes a tiered approach to funding transportation improvements, with the statewide level receiving 40 percent of available funding ($6 billion), the regional level receiving 30 percent of available funding ($4.5 billion) and the division level also receiving 30 percent of available funding ($4.5 billion) over the next 10 years.
The new formula is scheduled to be fully implemented by July 1, 2015. Projects funded for construction before then will proceed as scheduled; projects slated after that time will be ranked and programmed according to the new formula.
For more information, visit www.ncdot.gov/strategicmobilityformula/.