Virginia DCR offering $12.5M in loans to help communities impacted by flooding
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The loans are part of the statewide Resilient Virginia Revolving Loan Fund, which was established in 2022 to help local governments and property owners pay for flood mitigation measures.
The program offers two funding options: $5 million in loans to localities to meet local cost-share requirements for non-federal flood mitigation grants, and $7.5 million in loans to localities for the hazard mitigation of buildings.
Applications for the loans are accepted on a rolling basis until midnight on June 30, or when the funds are exhausted. Applications are 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). To learn more about the program and to apply, visit the DCR's website at www.dcr.virginia.gov/rvrf.
