byline: Veronica Garabelli

State and Richmond-area entities are seeking a $24.9 million federal grant that would provide half the funding for a 7.5 mile Bus Rapid Transit system on Broad Street.

A BRT system can run about as fast as a car and provides the benefits of light rail system at one tenth of the infrastructure cost, says RVA Rapid Transit, a citizen’s group promoting the project.  The pilot BRT project on Broad Street would cost $49.8 million to design and construct. Eventually the project would involve four BRT lines running on dedicated lanes along the four major arteries of metro Richmond: Broad and Hull streets, Midlothian Turnpike and Route 1.

The Richmond BRT route has been in development since 2009. The system would provide a one-time local benefit of $41.5 million and create 406 jobs for the area, state officials say.  The annual economic benefit is anticipated to be $7 million. 

The Virginia Department of Rail and Public Transportation (DRPT), the Greater Richmond Transit Co. (GRTC), the City of Richmond and Henrico County announced Thursday they are collaborating on a Transportation Investment Generating Economic Recovery (TIGER) grant application that would help fund the Broad Street BRT system. The TIGER grant program invests in road, rail, transit and port projects across the nation that deliver safety, economic competitiveness, state of good repair, livability and environmental sustainability. 

Virginia won’t know until the fall whether the project will be awarded a grant. There is $600 million in available funding for this year’s TIGER grant program.

The University of Virginia Board of Visitors announced tuition increases for undergraduate students at U. Va. and U.Va. Wise for 2014-15. 

Tuition and mandatory fees for first-year undergraduate, in-state students at U.Va. will increase by 4.3 percent.  The rate for out-of-state students is increasing by 5.9 percent.  The total cost of attendance at U. Va. for a first-year Virginia resident will increase by $949 to $27,417.

At U. Va. Wise, tuition and fees for in-state first-year students will rise by 4.2 percent, while out-of-state rates will increase by 4 percent.

Revenue from the new rates  at U.Va. will be used for for faculty and staff compensation, funding priorities for the university’s strategic plan and to cover the increase in its mandatory contribution to the Virginia Retirement System.

“The University of Virginia remains a tremendous value for students from all walks of life,” George Keith Martin, the university’s rector said in a statement. “The tuition plan approved today helps sustain and enhance success by supporting investments in priorities such as our superb faculty and an even more distinctive residential culture.”

Chantilly-based The SI Organization announced Tuesday plans to acquire QinetiQ North America Services and Solutions Group (QNA/SSG). Terms of the deal were not disclosed.
QinetiQ North America is headquartered in Reston.

The move will more than double SI’s employee count to 4,800 and bring the company’s revenue to approximately $1.3 billion. QNA/SSG employs 2,800 people.

QNA/SSG provides technology, services and solutions focusing on the U.S. government. SI offers systems engineering and integration capabilities solutions to the U.S. intelligence community, Department of Defense and other agencies.

“This transaction creates an opportunity to greatly scale our presence in market adjacencies such as DoD, DHS, NASA and federal civilian agencies,” Mac Curtis, CEO of SI, said in a statement.

The deal is subject to customary closing conditions and expected to close in the second quarter of this year.

Florida-based MEDNAX Inc. announced Monday it acquired Fredericksburg Anesthesia Associates Inc., a private practice physician group based in Fredericksburg. Terms of the deal were not disclosed.

The firm is the third Virginia-based anesthesia practice to join MEDNAX’s American Anesthesiology division.  American Anesthesiology of Virginia PC in Loudoun and Fairfax Anesthesiology Associates in Falls Church are the other Virginia-based firms in the division.

Fredericksburg Anesthesia Associates, incorporated in 1992, employs 16 anesthesiologists.

MEDNAX is a national medical group based in Sunrise, Fla. Their American Anesthesiology division is made up of more than 1,950 anesthesia providers, including more than 825 physicians and 1,125 anesthetists practicing in Florida, Georgia, Maryland, Michigan, New Jersey, New York, North Carolina, Tennessee, Texas and Virginia.
 

The Commonwealth has announced the launch of Data.Virginia, a website that will provide easy access to Virginia’s open data and keep Virginians informed on the state’s major big data initiatives.

“Virginia is generating more data on a daily basis than ever before. Much of that information is intended for public access but is often buried and hard to find. With this new initiative, Virginians will have a one-stop shop to get access to data from a variety of sources,” Gov. Terry McAuliffe said in a statement. The data can help citizens make informed decisions, assist innovators who are building cutting-edge applications and aid community leaders when planning projects, he said.

Examples of open datasets that will be available through the website include the Department of Education’s State Report Card on school performances, the Secretary of the Commonwealth’s database of board and commission openings, and the Department of Transportation’s traffic data from across Virginia.

Virginia Partners Bank’s president and CEO announced his retirement, effective June 30.

Young will be succeeded by Lloyd B. Harrison III who currently serves as the bank’s president and chief operating officer.

Young helped establish Virginia Partners Bank in 2007. Before that, he served as president and CEO of The National Bank of Fredericksburg for 13 years.
 

Virginia Partners Bank has three branches in Fredericksburg and plans to open a fourth full-service branch in La Plata, Md., later this year.

Virginia Partners Bank has approximately $240 million in assets, ranking No. 3 in market share of the 10 financial institutions operating in Fredericksburg.