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.
The concept of ethical or socially responsible investing ("SRI") utilizes an investment strategy that seeks both financial return and social good. The investment industry summarizes the areas of SRI into three broad categories known as "ESG": environment, social justice and governance.
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