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June 2008 From the Executive Director 
Welcome to the inaugural edition of our online newsletter!
One of our goals at VRA is to increase communication with our constituents and we have established this quarterly e-newsletter as one way of doing that. I trust you'll enjoy reading it - and that you'll pass it along to anyone else you think may be interested. VRA is making a difference in Virginia, investing more than $3.1 billion in Virginia communities since its inception in 1984. We've impacted drinking water quality, public safety, and the health of the Chesapeake Bay. We've worked on landfills and airports. We've built local roads. And we're continuing to grow. In July, VRA's project areas will expand into government buildings, energy, all types of broadband, and parks & recreation. But I don't want to say too much here. You'll see more as you read the newsletter. And you'll hear from some government leaders who have made VRA funding work in their communities. We're continuing our direct outreach into Virginia localities with our Community Investment Workshop Series. We visited the Valley in May and Northern Virginia in June. And you'll learn about how our newly formed Community Investment Advisory Council is bringing together community leaders from around the Commonwealth to exchange ideas about the infrastructure needs of communities and resources to meet those needs. The CIAC is a dynamic forum serving as a catalyst for creativity and advancement in communities all across Virginia. As much as we want you to know about what we're doing, we want to hear from you, too. If you're a government official or finance officer looking at projects in your community and wonder if VRA financing will work for you, call us. If you have an idea you think could work in another area, let us know and we'll pass it along. Or if you have an innovation you would like for us to explore, shoot us an e-mail. Again, thanks for taking the time to read our newsletter and learn how VRA partnerships are working in communities across Virginia. 
VRA Establishes Community Investment Advisory Council Since its inception, VRA has invested more than $3.1 billion in Virginia communities. More than 750 different projects have been funded with real investment in more than 250 communities. Official partners include the Department of Environmental Quality, the Department of Health, the Department of Aviation, and the Department of Conservation and Recreation. The creation of the Community Investment Advisory Council will enable a formal, regular dialogue between communities and VRA. VRA realizes that communities need new resources as dollars for programs are hard to find. Federal and state programs offer limited dollars and many local needs are not covered by grants. The CIAC is a two-way street. VRA program implementation can assist with short- and long-term financing, systems upgrades, economic development, public-private partnerships, and bundling multiple smaller projects into larger financing. In turn, members of the CIAC can keep VRA updated on local government needs, as well as assist in "fleshing out" VRA's newer project areas. Also, promoting best practices in local government finance will help communities find effective solutions to key service delivery needs. Greg Wolfrey, County Administrator in Goochland, is chairing the CIAC. He's been involved with local government since 1973 and in his current role for 22 years. Though some have teased that he is a "glutton for punishment" Wolfrey insists that he and Goochland County are a "good fit" and that he enjoys the challenges and rewards of his job. Wolfrey goes back a bit with VRA, as well. Starting with a couple of small projects in the courthouse area, he moved up to a $63 million water and sewer project in the eastern end of the county in 2002. The County is now nearing closing on a $2.5 million short-term financing that will fund a CAD system for the Life Safety division (sheriff, fire, rescue). He agreed to chair the CIAC and is eager to get the word out to localities who may not know about VRA. "The way I see it, our clients are the local governments of the Commonwealth. We need to be the mechanism to enhance the quality of life in those jurisdictions." And he's glad to have seen the growth of VRA through the years and now expand into broadband, government buildings, energy, and parks & recreation. "When VRA first started back in 1984, smaller jurisdictions previously didn't have avenues to get funds - this was the mechanism that helped smaller localities to get into the market - they could enhance quality of life by improving water and sewer. Now, it's great that they are expanding the coverage of VRA into recreation, public safety, etc. - we're exploring all of those in Goochland." The bottom line on VRA, according to Wolfrey is that "it's a one-stop shop for financing for jurisdictions for capital improvement needs." He says he looks forward to his work on the CIAC serving as an "ambassador" for VRA. Claire Collins, former City Manager in Covington, is the CIAC's vice-chair. She was in Covington for two years and prior to that served as County Administrator in Bath County for 14 years. Collins got into government management because she wanted to help create a sense of community. "Individuals," she said, "can do a lot on their own. But so much more can be accomplished with a shared vision." This message translates into her work with the CIAC. She likes the team approach and is glad to see so many folks from around the Commonwealth involved. And spreading the word about VRA is something she's glad to do. "If you get a packet in the mail from VRA, look at it," she said. "Call the staff, do the research. It doesn't mean you'll use them, but at least you'll know all of your options to make the best use of your money." That's what she did. And settled on a $939,000 bond for a landfill project with an attractive interest rate of 2.76% (January 2008). Ultimately she'd like to see the CIAC really become a "true collaboration between VRA and local governments." Input from localities - CIAC members or not - she says, is welcome and encouraged. It all goes back to individuals working together toward a common goal with a shared vision. Learn more about VRA at www.virginiaresources.org.
Thanks to All Serving on the CIAC
Reach of VRA Expanded through Legislative Action Virginia Resources Authority provides cost-effective financial solutions to local governments and other public bodies for projects that improve the quality of life for Virginians. When VRA was created in 1984, the focus of the work was in water and sewer. While those areas remain a major part of what VRA funds, the scope has expanded over the years and now includes 11 primary business areas: water, sewer, solid waste, brownfields, airports, federal facilities, flood prevention, land conservation, wireless broadband, transportation, and public safety. Thanks to legislative action in the 2008 General Assembly, VRA will once again expand as of July 1st and will begin funding projects in the areas of all types of broadband, government buildings, energy efficiency and conservation, and parks & recreation. This could mean bringing high-speed Internet to an underserved area, retrofitting an aging administrative building, or building athletic fields and walking, hiking, and biking trails. As the reach of VRA continues to expand, so does the impact on the lives of more citizens of the Commonwealth.
Falls Church Gets New Police Cars; New Radio System is Next 
"They can tailor your specific borrowing to whatever your requirements are. It's sort of like having a private banker."
That's how John Tuohy, CFO and General Manager for the City of Falls Church, describes working with VRA. His most recent dealings involved the purchase of new police vehicles. About a third of the fleet needed to be replaced. All the stop-and-go traffic in Northern Virginia takes a hefty toll and some of the cars were simply wearing out. The city used to do a lease-purchase through a local dealership, but this time financed the purchase through VRA. Working with VRA saved them 16% and the VRA loan rate was only 2.26% (March 2008). Nine vehicles have been added, with three more to go. All at a pricetag of $450,000. Tuohy says the officers love the new vehicles. Not only are they driving shiny new Fords, but the "stripe" on the side of the cars is a brand new design - created by members of the force. "By participating in the process they were invested in it. It's like they bought their own cars." The cars also have lower-profile LED lights which are not only more energy efficient, but they're easier to see, too. "Lights really do have safety implications," Tuohy said. "LED lights, being more visible, reduce the number of accidents at traffic stops." Next on the wish list is a new radio system. Interoperability - communication between different emergency and rescue departments - is critical. Tuohy says he hopes to upgrade next spring. And, once again, he'll be using VRA financing.
Upcoming events... Clean Water Revolving Loan Fund DEQ will be accepting applications June 1 - July 18, 2008 |
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