The Botetourt County Board of Supervisors passed a resolution last Tuesday requesting funding from the Virginia Department of Transportation (VDOT) for an extension of International Parkway to serve business park sites within the Botetourt Center at Greenfield.
The Botetourt County Economic Development Authority (EDA) is managing a Virginia Business Ready Sites Program (VBRSP) grant to develop Lot 3 within the Botetourt Center at Greenfield. The grant involves updating all due diligence studies, preparing plans and permits to mass grade Lot 3, extend sewer utility lines to Lot 3, and to build an extension of International Parkway to serve Lot 3.
The VBRSP grant budget includes a local county match as well as funding from the Virginia Department of Transportation’s Economic Development Access Program. Staff has met with VDOT officials to initiate the extension of International Parkway and consideration of attached resolution from the Board of Supervisors is among the first steps in the process.
The extension of International Parkway involves the construction of approximately 1,250 linear feet of two-lane access road with appurtenances; the current road extension cost estimate is approximately $850,000. The EDA has previously budgeted $650,000 from the VDOT funding program for this road extension. Final cost estimates and funding requests are underway and the Board of Supervisors will be kept informed. The county requested that the Commonwealth Transportation Board approve Economic Development Access Program funding for this construction project.
Revised VDOT funding guidelines can allow the county to request $700,000 in unmatched funds, and up to an additional $150,000 in matched funding.
~ Fincastle Herald staff report