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The Commonwealth Transportation Board allocated $2.5 million in state funding Wednesday for the city of Richmond’s riverfront plan, a key step in ensuring that the highly anticipated Brown’s Island dam walk project has enough funding to proceed.

The funding was included in a package of more than $180 million in state assistance for more than 200 projects through the Virginia Department of Transportation’s revenue-sharing program for the fiscal year beginning July 1.

The state dollars will supplement the $7 million the city has on hand for the riverfront plan. The city has not been able to give a clear estimate for how much the project might cost, but the state allocation boosts the likelihood that the bridge will be completed in time for the 2015 International Cycling Union Road World Championships.

“This money gives us clear sailing on getting all the Brown’s Island [dam walk] stuff done, which we think will be an outstanding addition to the city,” said city Planning Director Mark Olinger.

The city will now have about $9.5 million to proceed with riverfront projects, and the dam walk has been estimated to cost a little less than $8 million, Olinger said.