Virginia announces $12.5 million in funds available through the Resilient Virginia Revolving Loan Fund

February 15, 2024
 |
Flooding

RICHMOND — The Virginia Department of Conservation and Recreation today 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:

•    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 are accepted on a rolling basis until midnight on June 30 or when the funds have been exhausted. 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 www.dcr.virginia.gov/rvrf.

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