1. CONFIDENTIAL www.mcguirewoodsconsulting.com Christopher D. Lloyd Urban Land Institute – Richmond Urban Marketplace May 4, 2009 Role of Transportation and Infrastructure in Stimulating the Economy

2. 2 Discussion Points The State of Transportation Funding Transportation and the Stimulus Package Land Use and Transportation Future Policy Issues

3. 3 The State of Transportation Funding Relies heavily on gas tax, highway related activities Federal transportation trust fund is BANKRUPT Virginia’s transportation funding has not kept pace with population growth or inflation Efforts to increase Virginia transportation funding have suffered repeated setbacks (sales tax referenda, regional transportation taxes) Increased reliance on toll roads to address major transportation priorities

4. 4 The State of Virginia’s Transportation Network

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6. 6 Transportation and the Stimulus Package Virginia receiving $694 million for roads Focus of spending will be pavement rehabilitation, bridge repair, BRAC related construction Money will be spent quickly Virginia could benefit from mass transit and rail funding – Southeastern High Speed Rail Corridor

7. 7 Transportation and Land Use Virginia has 3 rd largest transportation network in nation Transportation disconnected from land use decisions Virginia adds 200 lane miles of roads per year – mostly in subdivisions Policy emphasis on limiting access conflicts, making developers pay for new roads, increased density, street connectivity Construction responsibility and oversight devolving to local governments

8. 8 Future Policy Issues Unreliability of the gas tax Maintenance vs. Construction Use of ITS Congestion Management not New Construction Acceptance of Toll Roads Will Devolution Work? Taxes, taxes, taxes

9. 9 Business Expansion | Federal Public Affairs | Strategic Communications & Grassroots Mobilization State & Local Government Affairs | Emerging European Markets Atlanta Charlotte Charlottesville Chicago Norfolk Raleigh Springfield Tyson’s Corner Washington, D.C. | Bucharest, Romania www.mcguirewoodsconsulting.com THE END