FUNDING
Funding the NW Arkansas Razorback Regional Greenway
Full build out of the Northwest Arkansas Razorback Regional Greenway is expected to cost approximately $38 million. The majority of funds needed to build the Greenway project have already been pledged from two different grant sources: a federal transportation grant and a matching grant and gift from the Walton Family Foundation.
TIGER II Grant
In November 2010, the communities of Northwest Arkansas received a federal transportation grant from the US Department of Transportation, Federal Highway Administration, in the amount of $15 million to support design, acquisition of right-of-way and construction of the NW Arkansas Razorback Regional Greenway. The Transportation Investment Generating Economic Recovery grant, otherwise known as TIGER, makes it possible to build a world-class greenway in NW Arkansas.
The TIGER II grant award was one of 42 grants made by the Department of Transportation to support investment in transportation infrastructure throughout the United States. More than 1,000 applications from across the nation were evaluated for TIGER II funding. It is indeed an honor for the Razorback Greenway to be selected and provided financial support.
One of the goals of the TIGER II program is to support “economic recovery.” The residents of NW Arkansas should know that the vast majority of the TIGER II grant funds will be spent within the communities of Northwest Arkansas, supporting businesses and their employees, and contributing to the economic growth and stability of the region. For example, four engineering firms (CEI Engineering Associates, USI Consulting Engineers, McClelland Consulting Engineers and Crafton Tull and Associates) two property appraisal firms (Cook and Associates and Reed and Associates) and two small businesses (Robert Norwood and Eastin Outdoors) will benefit from the TIGER II grant award. As the project proceeds to construction, local construction companies and suppliers of building materials will also benefit from the grant award. The grant funds are doing what was intended, providing money for the future development of a world-class alternative transportation project and providing a much needed source of revenue that supports businesses and residents of Northwest Arkansas.
The TIGER II grant award was one of 42 grants made by the Department of Transportation to support investment in transportation infrastructure throughout the United States. More than 1,000 applications from across the nation were evaluated for TIGER II funding. It is indeed an honor for the Razorback Greenway to be selected and provided financial support.
One of the goals of the TIGER II program is to support “economic recovery.” The residents of NW Arkansas should know that the vast majority of the TIGER II grant funds will be spent within the communities of Northwest Arkansas, supporting businesses and their employees, and contributing to the economic growth and stability of the region. For example, four engineering firms (CEI Engineering Associates, USI Consulting Engineers, McClelland Consulting Engineers and Crafton Tull and Associates) two property appraisal firms (Cook and Associates and Reed and Associates) and two small businesses (Robert Norwood and Eastin Outdoors) will benefit from the TIGER II grant award. As the project proceeds to construction, local construction companies and suppliers of building materials will also benefit from the grant award. The grant funds are doing what was intended, providing money for the future development of a world-class alternative transportation project and providing a much needed source of revenue that supports businesses and residents of Northwest Arkansas.
Walton Family Foundation Grant
The Walton Family Foundation has long advocated for and supported the development of trails and greenways in Northwest Arkansas. The Foundation has pledged a matching grant, conditioned on receipt of federal funding, for the future development of the Razorback Regional Greenway. The Foundation’s pledge of $15 million will be used to support Greenway trail development in Fayetteville, Johnson, Springdale, Lowell, and Rogers. The Foundation has supported trail development in Bentonville for many years, and because of this support, the Bentonville sections of the Razorback Greenway are complete and operational today.
Additional Funding Needed
The combined TIGER II Grant award and pledge of financial support from the Walton Family Foundation provides the majority of funding for the Razorback Greenway project. Additional funds are still needed to complete the project. An estimated $8 million needs to be raised to support full build out. If your company, organization or family wishes to support future development of the Razorback Greenway project, please contact Charles A. Flink, Project Manager at chuckflink@altaplanning.com, or John McLarty at the Northwest Regional Planning Commission jmclarty@nwarpc.org.
