What was accomplished with the 2008 transportation bond referendum?

From the 2008 transportation bond referendum, 15 projects were completed at a total cost of $140 million, which is an 80 percent completion rate of the proposed 19 road projects. Voters approved a bond amount of $70 million; only $24 million worth of bonds were issued. As bonds are only issued as the money is needed, which resulted in authorized but unissued bonds. Those remaining bonds are now expired. Approximately $100 million was leveraged from state and federal funds with $16.4 million from additional County funds outside of bond proceeds. Out of 55 total lane miles proposed for improvement, the County was able to complete 43.5 lane miles during one of the country’s worst economic recessions.

Over the last eight years, the County has initiated and helped fund 22 road improvement projects, including Youth Driver Task Force projects, with an investment of $57 million of County funds, which might never have happened without voter support for the 2008 referendum. The status of completed, current and future road projects may be found on the Transportation Projects page of the County’s website: www.staffordcountyva.gov/1549/Road-Projects.

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1. What is a referendum, and why are we having one?
2. What is bond financing?
3. If the Bond passes, what will it cost?
4. Will the approval of this bond package affect the County’s financial health?
5. Once approved, can the bonds be used for other purposes?
6. How were the road projects included in the 2019 transportation bond referendum selected?
7. What is the difference between major projects and safety widening projects?
8. What steps were taken to arrive at the need for a transportation bond referendum?
9. How were the road project costs determined?
10. If the referendum passes, what are the next steps?
11. Without the bond referendum, how is Stafford planning for future transportation improvements?
12. What was accomplished with the 2008 transportation bond referendum?