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TVTC Strategic Expenditure Plan 2022 Update │ Chapter 3: Project Prioritization Draft Final Report │ Adopted: April 29, 2022 5 CHAPTER 3: PROJECT PRIORITIZATION Historically, the TAC and TVTC have prioritized the use of TVTDF funding to leverage other federal or state funds in order to advance a project to its next stage, rather than to fully fund any single project in its entirety. For example, the funds could be used as the local match for other grant money. Or, the money could be used to fund the next project development phase, such as a PSR, which is typically assumed to cost 5% of the total project cost, or the PS&E, which is typically assumed to cost about 10% of the total project cost. Forecasted revenue generated by the TVTDF for the 10-year SEP horizon period is not sufficient to providing funding for all eligible projects, therefore projects are ranked to determine funding priority based on the criteria presented in the following section. PRIORITIZATION CRITERIA All projects (List A, List B, and List C) were prioritized using the following five criteria: 1) Project Urgency, 2) TVTDF Allocation, 3) Project Readiness, 4) Project Funding, and 5) Project Effectiveness. Each criterion was given a score between 0 and 3 points based on the scoring criteria presented in Table 1. Table 1: Project Prioritization Funding Criteria Description Scoring Criteria Project Urgency How urgent is the project? Is the project expected to move forward in the ten-year SEP horizon? Low Urgency = 1 Medium Urgency = 2 High Urgency = 3 TVTDF Allocation What is the % TVTDF allocation does the project currently have? >30% = 0 >20%-30% = 1 >10%-20% = 2 ≤ 10% = 3 Project Readiness How ready is a project is to expend capital funds? What stage the project is in? Score 0.5 – 3 based on what current stage (e.g. PSR = 1, Construction = 3) Project Funding How much total funding is committed for the project? Score = (Total Funding Committed / Total Cost) x3 Project Effectiveness How well does the Project aligns with Lead Agency Policy/Goals Well aligned with agency policy (e.g. In General Plan) = 3 Aligned with agency policy = 2 Not well aligned with agency policy = 1 The score for each funding criteria was the totaled and normalized to a 10-point scale to calculate the project’s priority score. Projects eligible to receive funding were then ranked base on their resultant priority score. It should be noted that this priority ranking was provided to help the TVTC TAC and SEP Subcommittee make informed decision on how to prioritize project funding and are provided to facilitate the decision-making process. The ultimate prioritization is determined by the TVTC board. The results of the project prioritization are included as Appendix B.