VRA is pleased to announce the financing of a new solid waste disposal cell through a joint financing between Stafford County and the City of Fredericksburg. This funding is through VRA's Virginia Pooled Financing Program, Series 2015D bond issuance. The City and County, located approximately an hour from both Richmond and Washington, D.C., serve as the commercial hub of the rapidly growing "Golden Crescent Region." This strategic location will drive future population growth, which makes construction of this cell vital to the region's continued economic success.
The 9.31-acre landfill cell will be constructed at the Rappahannock Regional Landfill in Stafford County. Rappahannock Regional Solid Waste Management Board, a joint venture between Fredericksburg and Stafford, manages and maintains the landfill on behalf of the two localities. Both localities borrowed $1.855 million for the project, which will be repaid over an 8-year period.
The funding for the project comes at a time of critical need for the landfill. The 700-acre landfill has six cells. Two cells are closed as a result of federal and state regulations and two others have yet to close but are at 100% capacity. One other cell will reach capacity in a matter of months. The additional cell will allow Stafford and Fredericksburg to dispose of waste at the landfill until the year 2024.
These infrastructure upgrades ensure the landfill's continued economic success for many years to come.
- Term: 8 years
- Amount: $1.855 million from Virginia Pooled Financing Program