To support and induce more investment in these important assets, the Virginia Airports Revolving Fund (VARF) was created in 2000 with an appropriation of $25 million from the General Assembly. From this $25 million, VRA has invested over $87 million in below market interest rate loans to assist with over 30 projects at 20 airports.
As with other state revolving funds, VRA partners with a state agency to administer the fund. The Virginia Aviation Board prioritizes individual loan requests and VRA manages the financial aspects of the fund.
VARF Documents Available for Download
|VARF Master Indenture of Trust||3.16 MB||Download|
|Continuing Disclosure||43 KB||Download|
|Please click here for access to VARF official statements|
Flow of Funds