W. Va. Code R. § 157-10-4

Current through Register Vol. XLI, No. 35, August 30, 2024

Section 157-10-4 - Submission and Consideration of Project Proposals; Bonds

4.1. A sponsor seeking state funds for a transportation project must submit to the Division for review a transportation plan project proposal for the project. The project proposal must include:

4.1.a. A completed application in a form approved by the Division;

4.1.b. A map in a scale approved by the Division depicting the location of the transportation project and the affected local jurisdictions;

4.1.c. The estimated total project cost;

4.1.d. An estimate of any state or federal funds requested from the Division;

4.1.e. Other sources of funding available for the transportation project;

4.1.f. Information demonstrating the need for the transportation project and documentation that the proposed funding of the project is the most economically feasible alternative to completing the transportation project;

4.1.g. A timeline for activities to be performed by the project sponsors;

4.1.h. A statement setting forth the financing of the project costs, including the sources of the funds and identification of any dedicated revenues, proposed debt, tax increment financing plans, issuance of bonds or notes, in-kind services or equity investment of project sponsors;

4.1.i. A list of utilities that can be constructed in coordination with the transportation project and a statement of the plans to accommodate those utilities;

4.1.j. Project sponsor contact information;

4.1.k. A statement of the projected availability and use of dedicated revenues from user fees, lease payments, taxes, and other service payments over time; and

4.1.l. Such other information as the Commissioner considers necessary to enable the review of the transportation project.

4.1.m. If requested by the Commissioner, geographic information system mapping of the transportation project and electronic filing of the preliminary proposal.

4.2. If a preliminary proposal is approved by the Commissioner for detailed review, the Division will advise the project sponsors of the estimated cost of a detailed review. The project sponsor must deposit with the commissioner a bond, irrevocable letter of credit or other acceptable instrument guaranteeing payment by the project sponsors of the actual costs incurred by the Division to perform a detailed transportation project plan review, to the maximum of the estimated costs, before a detailed review may begin.

4.3. The Commissioner and the sponsor shall encourage other affected public and private entities to collaborate on the project and to provide funding.

4.4. After a detailed review, the Commissioner may recommend to the Governor those transportation projects which are a prudent and resourceful expenditure of public funds. No proposal may be recommended or approved which is inconsistent with the division's twenty-year long range plans or other transportation plans.

W. Va. Code R. § 157-10-4