Agenda - 06-07-2016 - 8-b - SPOT P4.0 Transportation Funding Presentation

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STATE TRANSPORTATION IMPROVEMENT PROGRAM DEVELOPMENT 17 STRATEGIC TRANSPORTATION HOW THE STRATEGIC MOBILITY FORMULA INVESTMENTS LAW WORKS Passed in 2013,the Strategic Transportation Investments The Strategic Mobility Formula funds projects in three Law(STI) allows NCDOT to use its funding more categories: efficiently and effectively to enhance the state's • Division Needs infrastructure, while supporting economic growth, • Regional Impact job creation and a higher quality of life. This process • Statewide Mobility encourages thinking from a statewide and regional perspective, while also providing flexibility to address Division Needs local needs. Projects in this category receive 30 percent of the available revenue, shared equally over NCDOT's 14 STI established the Strategic Mobility Formula, which transportation divisions, which are groupings of local allocates available revenues based on data-driven counties. Project scores are based 50 percent on scoring and local input. It was used for the first time data and 50 percent on rankings by local planning to develop the 2016-2025 State Transportation organizations and the NCDOT transportation divisions. Improvement Program (STIP), which schedules the projects that will be funded during a 10-year period. Highway projects in this category are analyzed according While federal law requires it to be updated at least every to five criteria: four years, NCDOT updates the STIP every two years. • Congestion (15 percent) • Benefit/cost (15 percent) PRIORITIZATION • Safety(10 percent) NCDOT uses a transparent, data-driven method for • Freight and military) (5 percent) prioritizing transportation investment decisions. Through • Accessibility/Connectivity(5 percent) the process, called Prioritization, potential transportation improvement projects are submitted to NCDOT to Regional Impact be scored and ranked through the Strategic Mobility Projects in this category receive 30 percent of available Formula at the statewide, regional and division levels, revenue. Projects on this level compete within regions based on approved criteria such as safety, congestion, made up of two NCDOT transportation divisions, with benefit-cost and local priorities. These scores and other funding divided among the regions based on population. factors are used to determine whether a project receives Data makes up 70 percent of the project scores in this funding. Project prioritization occurs every two years. category. Local rankings account for the remaining 30 The current round of Prioritization is referred to as P4.0, percent. because it is the fourth iteration of this process. Regional Impact projects are analyzed according to five criteria: • Congestion (20 percent) • Benefit/cost (20 percent) REVENUE DISTRIBUTION • Safety(10 percent) • Accessibility/connectivity(10 percent) • Freight and military(10 percent) Statewide Mobility Projects in this category receive 40 percent of available revenue. The project selection process is based 100 30% percent on data. Division Statewide Mobility projects are analyzed according to six 40% criteria: Statewide • Congestion (30 percent) • Benefit/cost (25 percent) • Economic competitiveness (10 percent) • Safety(15 percent) • Multimodal and military (5 percent) 30% • Freight and mobility(15 percent) Regional Alternate Criteria To provide more flexibility, STI allows regions and divisions to develop alternate criteria tailored to their individual needs. To do so,the metropolitan and rural planning organizations, and the NCDOT divisions within the region must unanimously agree on the criteria. For more information,visit www.ncdot.gov/strategictransportationinvestments/