The N.C. Department of Transportation has distributed nearly $132 million in State Street Aid, also known as the Powell Bill Fund, to 507 municipalities across the state.
Iredell County cities and towns received $1,610,825:
• Harmony: $10,714.47 in Powell Bill funds; $5,213.20 in Highway Trust funds
• Love Valley: $4,95593 in Powell Bill funds; $2,411.35 in Highway Trust funds
• Mooresville: $521,148.86 in Powell Bill funds; $253,568.91 in Highway Trust funds
• Statesville: $501,274.61 in Powell Bill funds; $243,898.94 in Highway Trust funds
• Troutman: $45,500.83 in Powell Bill funds; $22,138.77 in Highway Trust funds
"This program provides cities and towns with money to help pay for repairs, maintenance and construction, including widening and adding sidewalks on the streets they maintain," said Transportation Secretary Gene Conti. "At a time when communities are faced with reduced budget revenue, the funding from the Powell Bill provides much-needed assistance to improve their transportation infrastructure."
The funding comes from revenues generated by the state gas tax and other highway user fees. This year's figure represents a $14 million decrease from 2008, primarily because of the downturn in economic conditions across the state. The money is allocated annually using a formula set by the N.C. General Assembly. Seventy-five percent of the funds are awarded based on population, while the remaining 25 percent are based on the number of city-owned street miles in each municipality. Each community determines how to spend its money, as long as it is on qualified projects.
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