Governor McDonnell recently announced a $3 million program to revitalize derelict commercial and industrial structures by providing local governments with grants to spark strategic private investment.
The Industrial Revitalization Fund (IRF) will provide grants of up to $600,000, primarily in distressed communities, for construction projects aligned with local and regional economic development strategies.
Towns, counties or cities can apply for the funding, which is intended for publicly-held properties, or for loans from local governments to private property owners. Each IRF grant will require a 1-1 match from public or private funds. Eligible properties include any large-scale, non-residential structure.
Applications for the Industrial Revitalization Fund will be reviewed beginning Friday, Sept. 9. Review will continue through December 31, 2011 or until funds are exhausted, whichever is sooner. How-to-apply workshops listed below will offer a review of the program design, the application packet and additional information.
Through the IRF and other revitalization programs, DHCD provides resources for catalytic community investments. Examples of viable strategies previously funded through DHCD programs include the following projects:
- The conversion of a historic hotel in the City of Norton into a business incubator
- The transformation of an empty big box store into The Crossroads Institute through a collaborative effort by Grayson and Carroll counties and the City of Galax
How to Apply Workshops
The workshops listed below will offer a review of the program design, the application packet and additional information.
Please register online by Wednesday, Aug. 3.
Harrisonburg
Monday, Aug. 8, 1 p.m.
Lucy F. Simms Continuing Education Center, Music Room
620 Simms Avenue, Harrisonburg, VA 22802
(directions)
Abingdon
Tuesday, Aug. 9, 10 a.m.
Southwest Virginia Higher Education Center, Room 240
One Partnership Circle, Abingdon, VA 24210
(directions)
Lynchburg
Wednesday, Aug. 10, 9 a.m.
Point of Honor, Carriage House Meeting Room
112 Cabell Street, Lynchburg, VA 24504
(directions)
Emporia
Wednesday, Aug. 10, 3 p.m.
Southside Virginia Education Center
1300 Greensville County Circle, Emporia, VA 23847
(directions)
Webinar
Thursday, Aug. 11, 10 a.m.
Remote access. Login information will be distributed to registrants prior to the workshop.