Sunday, April 14, 2024

$12.5M in Funds Available Through Resilient Virginia Revolving Loan Fund

(Virginia Department of Conservation and Recreation)

RICHMOND — The Virginia Department of Conservation and Recreation recently announced the continuance of the Resilient Virginia Revolving Loan Fund, which was established in 2022 to aid communities and property owners impacted by flooding across the commonwealth.

According to The Virginia Department of Conservation and Recreation (DCR), the fund is offering up to $12.5 million in loans for localities to advance projects that will improve flood resilience in two distinct categories:

  • Local Match for Non-Federal Programs: $5 million in loans to localities to meet local cost-share requirements for non-federal flood mitigation grants.
  • Hazard Mitigation of Buildings: $7.5 million in loans to localities for the
    hazard mitigation of buildings.

Applications will be accepted on a rolling basis until midnight on June 30 or when the funds have been exhausted, according to DCR. All applications must be submitted online via the DCR WebGrants portal.

Detailed information, including the Resilient Virginia Revolving Loan Fund grant manual, a link to the grants management portal, training materials and contact information are available at dcr.virginia.gov/rvrf.

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