News & Announcements
Local Governments May Soon Finance Affordable Housing Through VRA
On March 23, Governor Glenn Youngkin approved legislation to add affordable housing to the list of project areas that local governments may finance through VRA. HB1805 (Bloxom) and SB1401 (Lewis) were sponsored to provide another “tool in the toolbelt” for local governments to address housing affordability. On March 23, Governor Glenn Youngkin approved legislation to add affordable housing to the list of project areas that local governments may finance through VRA. HB1805 (Bloxom) and SB1401 (Lewis) w... Read More >
Strategic Planning in Small Communities
Capacity challenges can hinder smaller communities from performing critical planning exercises. The International City/ County Management Association (ICMA) awarded a research fellowship to Dr. Stephanie Dean Davis of Virginia Tech’s Graduate Local Government Management Program to study this issue. Capacity challenges can hinder smaller communities from performing critical planning exercises. The International City/ County Management Association (ICMA) awarded a research fellowship to Dr. Ste... Read More >
Local Infrastructure Hub
The National League of Cities is a proud sponsor of the Local Infrastructure Hub, a Database of approximately 400 funding opportunities available through the Bipartisan Infrastructure Law and the Inflation Reduction Act.The National League of Cities is a proud sponsor of the Local Infrastructure Hub, a Database of approximately 400 funding opportunities available through the Bipartisan Infrastructure Law and the I... Read More >
Board Highlight: David Branscome
David Branscome was appointed to the VRA Board of Directors by Governor Youngkin effective July 1, 2022. Previously appointed by Governors McDonnell and McAuliffe, he served two prior terms on the VRA Board. David chairs the Budget & Investment Committee and serves on the Audit Committee. David Branscome was appointed to the VRA Board of Directors by Governor Youngkin effective July 1, 2022. Previously appointed by Governors McDonnell and McAuliffe, he served two prior terms on the ... Read More >
HRSD Breaks Ground on First Full-Scale SWIFT Facility
On July 21, 2022, Hampton Roads Sanitation District (HRSD) Commissioners and staff gathered with state and local representatives at the HRSD James River Treatment Plant in Newport News to break ground on the first full-scale Sustainable Water Initiative for Tomorrow (SWIFT) facility.On July 21, 2022, Hampton Roads Sanitation District (HRSD) Commissioners and staff gathered with state and local representatives at the HRSD James River Treatment Plant in Newport News to break gro... Read More >
General Assembly Creates and Capitalizes Resilient Virginia Revolving Fund
SB756 (sponsored by Senator Lewis) and HB1309 (sponsored by Delegate Bulova) created the Resilient Virginia Revolving Fund effective July 1, 2022. By statute, VRA will financially administer and manage the Fund with the Department of Conservation and Recreation (DCR). The Fund shall be used to make loans or grants to local governments to finance or refinance the cost of any resilience project. Loans and grants may also be made from the Fund to a local government that has developed a funding program to provide low-interest loans or grants to any persons of the Commonwealth eligible for projects for resilience purposes.SB756 (sponsored by Senator Lewis) and HB1309 (sponsored by Delegate Bulova) created the Resilient Virginia Revolving Fund effective July 1, 2022. By statute, VRA will financially administer and ma... Read More >
York County Finances Library Expansion, Law Enforcement Building, and Fire Truck Acquisition
York County borrowed $32.2 million from the spring 2022 Virginia Pooled Financing Program issuance pool for several capital projects. The County secured the 20-year loan with a lease revenue pledge. Theresa Owens, York County Director of Finance, had this to say about the financing: “It is great to work with VRA again. They always make the financing process seamless while securing very competitive rates. This was especially important considering these are some of the largest projects we’ve done in the past few years.”York County borrowed $32.2 million from the spring 2022 Virginia Pooled Financing Program issuance pool for several capital projects. The County secured the 20-year loan with a lease revenue pledge... Read More >
Western Virginia Water Authority Borrows from Clean Water Revolving Loan Fund for Innovative Biogas Project
The Western Virginia Water Authority (Authority) and Roanoke Gas Company (Roanoke Gas) have entered into a cooperative agreement to produce commercial quality renewable natural gas, or RNG, from biogas produced at the Roanoke Regional Water Pollution Control Plant (WPC Plant). This RNG product, the first of its kind in the Commonwealth, will necessitate construction of a digester gas conditioning system and interconnect facility at the WPC Plant. Representatives from the Authority, Roanoke Gas and the community broke ground on this phase of the project on May 17, 2022.The Western Virginia Water Authority (Authority) and Roanoke Gas Company (Roanoke Gas) have entered into a cooperative agreement to produce commercial quality renewable natural gas, or RNG, from bi... Read More >
Board Highlight: Greg Campbell
Governor Glenn Youngkin appointed Greg Campbell as the Director of the Virginia Department of Aviation effective February 14, 2022. By statute, the Director of the Department of Aviation serves as an ex-officio member of VRA’s Board of Directors.Governor Glenn Youngkin appointed Greg Campbell as the Director of the Virginia Department of Aviation effective February 14, 2022. By statute, the Director of the Department of Aviation serves as ... Read More >
Governor Youngkin Appoints Shawn Crumlish as VRA Executive Director
Governor Glenn Youngkin appointed Shawn Crumlish as VRA Executive Director in April of 2022. Before his appointment, Shawn served as Director of Financial Services and held other positions at VRA for over 16 years. During this time, he was involved with various transaction types, including water, wastewater, transportation, and economic development, and implemented several new funding programs with state agency partners. He received his undergraduate degree from James Madison University and a master’s degree from Virginia Commonwealth University.Governor Glenn Youngkin appointed Shawn Crumlish as VRA Executive Director in April of 2022. Before his appointment, Shawn served as Director of Financial Services and held other positions at VRA f... Read More >
Lunenburg County Modernizes its 911 Radio System
At more than 20 years old, Lunenburg County’s current radio system is outdated and has limited operability, requiring a full-scale system replacement. At more than 20 years old, Lunenburg County’s current radio system is outdated and has limited operability, requiring a full-scale system replacement. Read More >
Town of Strasburg Borrows to Improve Access to Business Park
The Town of Strasburg has secured financing from VRA for a new project involving the replacement of water lines, and an expansion of a road that will increase ease of access to the Northern Shenandoah Business Park. The Town pledged its General Obligation, or full faith and credit, to borrow $2.39 million through the Virginia Pooled Financing Program to be repaid over 20 years.The Town of Strasburg has secured financing from VRA for a new project involving the replacement of water lines, and an expansion of a road that will increase ease of access to the Northern Shenand... Read More >
Board Highlight: Charlette Woolridge, PhD
Dr. Charlette T. Woolridge has over 30 years of executive management experience in local and state government. She was appointed Greensville County Administrator effective August 9, 2021. Prior to that, she served as the county administrator for the County of Brunswick since April 2006. Prior to joining Brunswick County, she spent 17 years working in various senior-level positions for the City of Richmond. Dr. Charlette T. Woolridge has over 30 years of executive management experience in local and state government. She was appointed Greensville County Administrator effective August 9, 2021. Prior to ... Read More >
VRA Earns GFOA Award
For the 13th consecutive year, VRA has earned the prestigious ‘Certificate of Achievement for Excellence in Financial Reporting’ award from the Government Finance Officers Association of the United States and Canada (GFOA). This award is for VRA’s comprehensive annual financial report for the fiscal year that ended June 30, 2020. For the 13th consecutive year, VRA has earned the prestigious ‘Certificate of Achievement for Excellence in Financial Reporting’ award from the Government Finance Officers Association o... Read More >
Orange County Expands Broadband Network
In 2016, the Orange County Board of Supervisors adopted a resolution authorizing the creation of the Orange County Broadband Authority (OCBA). As a rural county, reliable broadband service is largely absent in Orange.In 2016, the Orange County Board of Supervisors adopted a resolution authorizing the creation of the Orange County Broadband Authority (OCBA). As a rural county, reliable broadband service is large... Read More >
2021 Resilient Virginia Conference
VRA finances a variety of infrastructure project types that support community resiliency and is excited to be a sponsor of the 2021 Resilient Virginia Conference. The conference will take place virtually August 25-27, 2021. VRA finances a variety of infrastructure project types that support community resiliency and is excited to be a sponsor of the 2021 Resilient Virginia Conference. The conference will take place vir... Read More >
Community Flood Preparedness Fund Accepting Grant Applications
The Virginia Community Flood Preparedness Fund (CFPF) was established to provide support for regions and localities across Virginia to reduce the impacts of flooding. VRA will assist the Virginia Department of Conservation and Recreation (DCR) by providing financial management services in connection with the CFPF. DCR will prioritize projects for CFPF financing.The Virginia Community Flood Preparedness Fund (CFPF) was established to provide support for regions and localities across Virginia to reduce the impacts of flooding. VRA will assist the Virginia D... Read More >
VRA Closes the Single Largest Loan in the Clean Water Revolving Loan Fund and VRA's History to Alexandria Renew Enterprises
VRA was proud to assist with a $185,650,000 loan to Alexandria Renew Enterprises (AlexRenew) to invest in healthier waterways for Alexandria.VRA was proud to assist with a $185,650,000 loan to Alexandria Renew Enterprises (AlexRenew) to invest in healthier waterways for Alexandria. Read More >
The Value of Regional Cooperation
Collaboration is at the core of VRA’s mission. Since 1984, VRA’s team of finance professionals has been supporting and promoting partnerships and regional collaborations between local governments aimed at meeting the critical infrastructure needs of Virginia residents and businesses.Collaboration is at the core of VRA’s mission. Since 1984, VRA’s team of finance professionals has been supporting and promoting partnerships and regional collaborations between local g... Read More >
EPA Recognizes Excellence and Innovation in Two Virginia Projects
The U.S. Environmental Protection Agency (EPA) annually presents its prestigious AQUARIUS and PISCES awards. Both awards provide national recognition to projects funded by the Drinking Water State Revolving Fund (DWSRF) and Clean Water Revolving Loan Fund (CWRLF). Two Virginia projects were recipients of these awards during a virtual Council of Infrastructure Financing Authorities event held December 14, 2020.The U.S. Environmental Protection Agency (EPA) annually presents its prestigious AQUARIUS and PISCES awards. Both awards provide national recognition to projects funded by the Drinking Water State ... Read More >
VRA Helps Locality Fund Energy Efficiency Upgrades - VPFP Project Spotlight
Local governments across the Commonwealth depend on the Virginia Pooled Financing Program (VPFP) to help finance key infrastructure improvements that serve residents and local businesses.Local governments across the Commonwealth depend on the Virginia Pooled Financing Program (VPFP) to help finance key infrastructure improvements that serve residents and local businesses. Read More >
Expanding the Impact of the Clean Water and Drinking Water Programs through Inaugural Joint Bond Issuance
Together with state agency partners, VRA plays an important role in helping keep Virginians safe and healthy. This mission is even more important as the Commonwealth faces the many challenges associated with the COVID-19 pandemic. VRA, in partnership with the Virginia Department of Environmental Quality (DEQ) and Virginia Department of Health (VDH), serves as the financial administrator of the Clean Water Revolving Loan Fund (CWRLF) and Drinking Water State Revolving Fund (DWSRF). Both of these funds have a daily impact on improving the quality of life in communities across Virginia.Together with state agency partners, VRA plays an important role in helping keep Virginians safe and healthy. This mission is even more important as the Commonwealth faces the many challenges assoc... Read More >
Goochland County Achieves Nearly $8.5 Million of Savings through Refunding Bond Issuance
In 2002, VRA issued bonds on behalf of Goochland County to finance utility system improvements in the County’s Tuckahoe Creek Service District (TCSD). TCSD is best known for the West Creek development that has flourished on the eastern end of the County. In 2012, the County was assisted again by VRA with the restructuring of the 2002 debt that was designed to provide Goochland with a debt service schedule and loan terms better suited to Goochland's long-term needs. In 2020, the County again partnered with VRA to capture debt service savings through the refunding of the 2012 bonds.In 2002, VRA issued bonds on behalf of Goochland County to finance utility system improvements in the County’s Tuckahoe Creek Service District (TCSD). TCSD is best known for the West Creek de... Read More >
Important Dates
Portfolio Risk Management Committee Meeting
12
Jun
3:00 PM
4:00 PM
4:00 PM
Portfolio Risk Management Committee Meeting
1111 E. Main St., Ste. 1920, Richmond, va, 23219
Personnel Committee Meeting
13
Jun
8:00 AM
9:00 AM
9:00 AM
Personnel Committee Meeting
1111 E. Main Street, Ste 1920, Richmond, VA
Budget and Investment Committee Meeting
13
Jun
8:30 AM
9:00 AM
9:00 AM
Budget and Investment Committee Meeting
1111 E. Main St., Ste. 1920, Richmond, va
Board Meeting
13
Jun
9:00 AM
11:00 AM
11:00 AM
Board Meeting
1111 E. Main Street, Ste 1920, Richmond, VA
VPFP Fall Pool Application Deadline
04
Aug
8:00 AM
5:00 PM
5:00 PM
VPFP Fall Pool Application Deadline
Featured Project
Energy Cogeneration ProjectProject Area: Energy Borrower: Frederick Winchester Service Authority
Construction of County Government ComplexProject Area: Local Government Buildings Borrower: Buckingham County
13-Field Athletic ComplexProject Area: Parks & Recreation Borrower: York County
Investment in the Wallops Research Park on Virginia's Eastern ShoreProject Area: Energy Borrower: Accomack County
Renovations to County-owned Senior Citizen CenterProject Area: Local Government Buildings Borrower: Fairfax County
53 Urban Transit BusesProject Area: Transportation Borrower: Hampton Roads Transit
Construction of New Courthouse FacilityProject Area: Local Government Buildings Borrower: Hanover County
Land Conservation in Virginia BeachProject Area: Land Conservation & Preservation Borrower: Virginia Beach, City of
Dominion Boulevard US Route 17 ProjectProject Area: Transportation Borrower: Chesapeake, City of
10-unit T-hangar DevelopmentProject Area: Airports Borrower: Virginia Highlands Airport Authority
Water Treatment Plant Upgrades and Water and Sewer Main ReplacementsProject Area: Water Borrower: Winchester, City of
Town of Strasburg Borrows to Improve Access to Business Park Project Area: Transportation Borrower: Strasburg, Town of
Lunenburg County Modernizes its 911 Radio SystemProject Area: Public Safety Borrower: Lunenburg County
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