Virginia Pooled Financing Program


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. Through the VPFP, VRA sells municipal bonds and then loans the proceeds to local governments, which benefit from VRA’s strong credit ratings, competitive interest rates, and straightforward application process.

The VPFP offers loan structuring flexibility, while allowing localities to finance or refinance multiple different project types through a single transaction. The VRA team manages all aspects of the bond issuance process and guides applicants to and after loan closing.

VPFP Value-Added Benefits

  • Competitive “AAA/AA” market interest rates
  • Customized loan terms and amortization structures
  • Economies of scale through shared costs of issuance among pool participants
  • Streamlined, efficient application and loan closing process
  • Loan terms up to 30 years
  • Dedicated loan servicing and administrative support throughout the life of the borrowing
  • Reliable and consistent market access (2-3 issuances per year at a minimum)

Upcoming Application Deadlines

Fall Application Deadline: August 2, 2024

Featured Projects

New Facility and Renovations for the Harrisonburg-Rockingham Community Services Board

Using the Virginia Pooled Financing Program, the City of Harrisonburg and Rockingham County financed a new facility for the Harrisonburg-Rockingham Community Services Board (“HRCSB”) in 2019.


Refunding of Hampton Roads Convention Center Bonds

In 2002, the City of Hampton issued Convention Center Revenue Bonds to finance the construction of the Hampton Roads Convention Center, an award-winning facility that includes meeting rooms, exhibit halls, a grand ballroom, and banquet seating for up to 2,000 people.


Hanover County’s New Courthouse Facility

Hanover County applied to the Virginia Pooled Financing Program (“VPFP”) to finance the construction of a new courthouse facility in 2014.