Virginia Pooled Financing Program

VRA provides financing to local governments for essential projects.  All VRA projects areas are eligible for financing in the Virginia Pooled Financing Program (VPFP).

The unique structure of the VPFP provides value added benefits, including:

• “AAA/AA” interest rates
• Custom-tailored loans
• Economies of scale and shared issuance costs
• No bond insurance premiums
• No individual rating agency review
• Straightforward process
• Loan terms up to 30 years
• Access to the best services and results

Bonds are issued at least twice a year in the fall and spring and VRA offers Interim Financing to meet the timing needs of any project. 

Since inception in 2003, 53 different cities, towns, counties, and service authorities utilized this program to finance over $606 million.

Fall 2007 Borrower Summary

Locality	Project	Par Amount
Town of Broadway	Wastewater	$2,555,000
City of Falls Church	Water	8,220,000
Frederick County SA	Water and Wastewater	10,495,000
City of Suffolk	Water and Wastewater	39,795,000
Tazewell County	Solid Waste	2,675,000
Town of Woodstock	Wastewater	2,470,000
	Total	$66,210,000

 

Virginia Pooled Financing Program Application (Word Doc 360K)

VPFP Spring 2008, Due March 14, 2008