RTA Priority: Create a “FAST” mobility fund to accelerate low-cost congestion relief projects
The regional business community is seeking a faster way to fund lower cost projects. A “FAST” mobility fund would focus on accelerating smaller projects to provide congestion relief in a timely manner.
The Strategic Transportation Investments process has removed politics from transportation prioritization, and that has advanced a number of major projects for our region and state. However, there are a few challenges for smaller projects:
- The number of highway projects under $5 million submitted to SPOT is limited due to the caps on project submittals and by the funding metrics, which are geared toward larger projects
- Highway projects under $5 million represent just over 1% of total highway funding recommended statewide through the SPOT process
- The SPOT process can add up to a year and a half to project delivery timelines, which is substantial for small operational improvements with minimal right-of-way and environmental impacts where immediate solutions are needed
A FAST mobility fund would complement the success of STI for smaller projects, such as advancing potential rapid intersection improvements to the Multimodal 54 corridor between I-40 and Chapel Hill and various roads and streets regionwide.
- RTA is working with NCDOT and other partners to identify a method to accelerate low-cost congestion relief projects.
- RTA has initiated a traffic congestion task force of RTA members to identify areas of traffic congestion and potential simple traffic relief solutions.
NCDOT strategic transportation investments process: https://www.ncdot.gov/strategictransportationinvestments/