Will the Greensboro Urban Loop Project be Reprioritized?
The Greensboro Urban Loop Project may be one of the projects in jeopardy.
According to the North Carolina Department of Transportation (NCDOT), NC's population is expected to increase by more than 1.3 million people over the next 10 years. More people will naturally mean more traffic. However, the state's funding for transportation projects is projected to decrease by $1.7 billion during this same timeframe.
The Strategic Mobility Formula is the Governor's answer to this dilemma.
The plan for a new plan:
Formerly, funding has been divided equally among the state's 14 transportation divisions. Under the new formula, there are three categories of projects (state, regional and divisional) and projects in each of these groups will be given priority based on their "ranking."
But the ranking system has not yet been developed.
The NCDOT has indicated, however, that they will focus more on construction projects, rather than maintenance. Maintenance projects will continue, but they may have to compete with construction initiatives for funding.
So what does that mean for the Greensboro Loop?
The new ranking system will take affect July 1st, 2015 and any projects slated for construction after that period will be ranked and prioritized.
The final leg of the Greensboro Urban Loop that runs from Lawndale Drive to US 29 is schedule to begin construction in 2018, so it will likely fall under the new formula.
Whether or not it will be reprioritized still remains in question.
Cheryl McQueary, who represents the Greensboro region on the N.C. Board of Transportation, does not foresee any problems with obtaining funding under the new system.
According to The Business Journal she said that even if the loop doesn't qualify as a state project, it can be re-submitted as a regional project.
"It's on the radar of almost everybody to make certain that we are not going to have any hiccups," she said. "I have not seen one bit of hesitancy."
Want more info?
If you're in the path of the Urban Loop's development and want to know how your property may be affected, give us a call and one of our attorneys may be able to give you more information.
We've been studying the Greensboro Loop project and we may be able to tell you specifically how your land may be impacted and what issues you should be aware of.