Programs

The Virginia Pooled Financing Program (VPFP) is a general municipal pool program that provides Virginia local governments with efficient public debt market access to finance or refinance essential projects at competitive interest rates.

The Virginia Clean Water Revolving Loan Fund (CWRLF) provides financial assistance for water quality improvement projects throughout Virginia. Since 1987, over $4 billion has been invested in projects throughout the Commonwealth.

The Virginia Drinking Water State Revolving Fund (DWSRF) provides financial assistance for drinking water projects to local governments. Since 1998, over $500 million has been invested in projects throughout the Commonwealth.

The Virginia Airports Revolving Fund (VARF) provides financial assistance for public-use, publicly owned airports. Since 2000, over $110 million has been invested in airport infrastructure projects throughout the Commonwealth.

Virginia’s Ag BMP Loan Program provides a source of low cost financing to Virginia’s agricultural producers and Soil and Water Conservation Districts to reduce agricultural non-point source pollution.

The DSFP was established to make matching grants to local governments and to private entities owning existing dams to improve dam safety.

The CFPF provides financial assistance to localities to reduce the impacts of flooding in the Commonwealth, with an emphasis on projects that align with local, state, and federal floodplain management standards, local resilience plans, and the Virginia Coastal Resilience Master Plan.

Local governments can use RVRF funds for eligible resilience projects, including but not limited to hazard mitigation of buildings, home buyouts and relocation, and to make loans or grants to private property owners for other eligible resilience purposes.

The Local Government Direct Loan Program provides a flexible mechanism for VRA to support infrastructure projects that would otherwise be inefficient to finance through other existing VRA programs.

VBAF funds are eligible to promote restoration and redevelopment of brownfield sites and to address environmental problems or obstacles so these sites can be effectively marketed to new economic development prospects.

The Virginia Tobacco Region Revolving Fund (VTRRF) was established in 2016 to create a long-term mechanism to fund revenue-generating economic revitalization projects in the tobacco region.

The Virginia Tourism Gap Financing Program helps provide a gap financing mechanism to compensate for a shortfall in tourism project funding.

VTIB encourages the investment of both public and private funds in the development of eligible transportation projects and provides an alternative source of financing for present and future transportation needs in the Commonwealth.