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137 <br /> US 70 Multimodal Corridor Study <br /> 6.2.2 North Carolina Highway Safety Improvement Program (HSIP) Funding <br /> Funding through the NCDOT HSIP program may be available for certain recommendations such as <br /> intersection signal upgrades specific to pedestrian phasing, either submitted as a single project or as <br /> separate projects. It is recommended to combine multiple recommendations into a single project submittal, <br /> however.This funding is meant to provide a continuous and systematic process that identifies, reviews, and <br /> addresses specific traffic safety concerns throughout the state.There are multiple submittal timeframes <br /> throughout the year when projects can be submitted for review, allowing for more frequent review than the <br /> SPOT cycle discussed above.This plan, along with others mentioned in Chapter 3, establish and support the <br /> need for the recommended improvements, which is needed for submittal. The local municipality and <br /> DCHCMPO would work with the Traffic Safety Unit and the Triad Regional traffic safety engineer to have the <br /> project formally submitted for consideration. The project would then "compete" against other projects <br /> statewide for funding, also on a rolling cycle basis like the submittal process. <br /> If a project does not score well within the HSIS selection process, the Traffic Safety Unit will return feedback <br /> that may help future considerations. No resubmittal is needed if the project is not selected; it remains on the <br /> list of projects for consideration. Unlike the SPOT process, increased local contributions could make a notable <br /> difference in the competitive scoring of HSIP projects. <br /> 6.2.3 Federal Grant Funding Opportunities <br /> There are several reasons why a local agency may choose to add bicycle and pedestrian improvements in <br /> advance of or separate from a roadway improvement. The roadway project may not be scheduled for design <br /> and construction for many years after a future need has been identified.This delay may not be acceptable to <br /> an agency whose interest is to provide a connected and safe network for cyclists and pedestrians as soon as <br /> possible.This is one scenario when pursuit of federal grant awards may be an appropriate funding <br /> mechanism to implement the plan recommendations. <br /> 6.2.3.1 Rebuilding American Infrastructure with Sustainability and Equity (RAISE) Grants <br /> The RAISE grant program is federal funding allotted for planning and capital investments that support roads, <br /> bridges, transit, rail, ports, or other intermodal transportation. This program is intended for projects that will <br /> improve safety, environmental sustainability, quality of life, mobility and community connectivity, and <br /> economic competitiveness and opportunity. Additional considerations include demonstrated project <br /> readiness and cost effectiveness. Over the past 15 cycles of competitive grant awards, RAISE and its <br /> predecessors (TIGER and BUILD) has awarded nearly $14.4 billion for national infrastructure investment <br /> projects. <br /> Currently, the minimum RAISE grant award is $5 million with a maximum of$25 million for projects located in <br /> urban areas.While the 2024 RAISE grant application deadline is February 28, 2024, this cycle is relatively <br /> predictable and a release for the 2025 applications is expected near the end of 2024 with a February 2025 <br /> submittal deadline. Municipalities can use the project prioritization to prepare information that would be <br /> needed for a future application submittal. <br /> A RAISE Grant is most suitable as a funding source for corridor wide improvements if they can be bundled <br /> with other systemic projects to reach the minimum $51M grant award threshold.Approved pre-design tasks <br /> completed to support the grant application are reimbursable through this grant program. <br /> 128 Implementation and Funding <br />