Resilient Virginia Revolving Loan Fund

The Resilient Virginia Revolving Loan Fund (RVRF) was established in 2022 by the General Assembly of Virginia: §§ 62.1-199 and 62.1-203 of the Code of Virginia were amended and reenacted and Chapter 6 of Title 10.1 10.1-603.28 through 10.1-603.40.

Resilient Virginia Revolving Loan Fund

The Virginia Department of Conservation and Recreation announced the continuance of funding opportunities to increase flood protection across the commonwealth through the Resilient Virginia Revolving Loan Fund. The Fund, established in 2022 as a self-sustaining program to aid communities and property owners impacted by flooding, is offering up to $12.5 million in loans for localities. Funds are available to advance projects that will improve flood resilience in two distinct categories.

SPECIAL ANNOUNCEMENT

As a continuation of Round 1, the current funds are specifically used to advance projects that will improve resilience to flooding by mitigating hazardous buildings and by providing local match share to Federal funding opportunities.

Applications will be accepted and evaluated on a rolling basis until midnight on June 30 or when the funds have been exhausted. They must be submitted online via the WebGrants portal.

Amounts:

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

Application period is closed for all other categories

Information about how to apply:

All deliverables and associated materials shall be provided digitally to DCR via the WebGrants Portal, or mail with prior approval from DCR.

Application Manual
RVRF Application Manual

Inaugural Round (now closed)

The total amount of funds awarded in any grant or loan round, the amount of funds allocated across grant or loan categories and final determinations of grant or loan awards are determined by DCR in consultation with VRA.  

Restrictions:

Applications restricted to local government (including counties, cities, towns, municipal corporations, authorities, districts, commissions, or political subdivisions created by the General Assembly or pursuant to the Constitution or laws of the Commonwealth.
Maximum amount allowed for project grants and long-term loans are not cumulative. An applicant may apply for, and receive, up to $7.5 million in grants and $7.5 million in long-term loans.