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.
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.
Despite challenging market conditions since the onset of the COVID-19 crisis, VRA successfully managed the VPFP Series 2020A spring pooled issuance on behalf of local government borrowers. VRA priced the bonds on May 20th and closed on June 3rd.
VRA is Authorized to Finance Infrastructure in a Wide Range of Project Areas
Chapter 153 of the 2018 Acts of Assembly authorized dredging as an official project area under the Virginia Resources Authority Act and therefore eligible for VRA financing. Delegate Keith Hodges was the bill patron and sponsored the legislation on behalf of constituent interest in the Middle Peninsula region. In March, the Governor signed the bill which became effective July 1.
VRA plays an important role in helping to protect the Commonwealth's many precious natural resources. Much of this work is done through the Clean Water Revolving Loan Fund (CWRLF). VRA is financial manager for the CWRLF, which the VA Department of Environmental Quality administers on behalf of the State Water Control Board.
More and more, you'll see communities blending their tourism and industrial economic development efforts, and management offices. Aside from benefits of office and staff resource management, a shared vision for 'community development' depends on the same infrastructure requirements, including site locations, connectivity of base utilities and business technology, zoning, parking/transportation and more. Another factor is funding, both private and public. Whether for new business recruitment or the expansion of existing businesses, funding is a key element.
Pittsylvania County requested funds from the VirginiaSAVES Green Community Program (VGCP) to implement eco-friendly measures in the County's schools. The changes will be implemented under an energy performance contract with Trane. Energy savings from the project is equivalent to removing 309 cars from the Commonwealth's roads!
The 2015 General Assembly passed Senate Bill 1440. This bill, patroned by Senator Frank Ruff, changed the name of the Tobacco Indemnification and Community Revitalization Commission to the Tobacco Region Revitalization Commission and also established the Virginia Tobacco Region Revolving Fund.
Congratulations to VRA Board Vice-Chair Rhu Harris on Being Named a Richmond Times-Dispatch Person of the Year!
December 23, 2020
December 23, 2020