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	Download
Continuing Disclosure	43 KB	Download
Please click here for access to VARF official statements

Flow of Funds