Virginia Airports Revolving Fund Information

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.

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VARF Documents Available for Download

Document Name
File Size  
VARF Master Indenture of Trust 3.16 MB File is a PDF Download
Continuing Disclosure 43 KB File is a PDF Download
Please click here for access to VARF official statements    


Flow of Funds

Flow of Funds Chart


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