Virginia Airports Revolving Fund

The economic impact of the 67 public use airports in Virginia is $14 billion annually.  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 $83 million in below market interest rate loans to assist with 27 projects at 18 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.

Use this link for additional information.
http://www.doav.virginia.gov/airport_grant_program.htm

Virginia Airports Revolving Fund Application (Word Doc 249K)