VA - $100M in funding approved for Hampton Roads water improvement projects
The Virginia Department of Environmental Quality, in partnership with the Virginia Resources Authority, has closed a loan with Hampton Roads Sanitation District to finance $100 million of their Capital Improvement Plan and Sustainable Water Infrastructure for Tomorrow (SWIFT) Program.
The first and largest of its kind for Virginia’s Clean Water Revolving Loan Fund program, the loan will help fund – over the next 20 years – the state’s largest suite of water quality improvement projects.
Virginia’s healthy Revolving Loan Fund, capitalized annually through a grant from the EPA, is a reliable, low-interest funding source for the state’s wastewater infrastructure improvements, stormwater and agriculture best management practices, living shorelines, land conservation and brownfield remediation projects. The Fund is administered by DEQ’s Clean Water Financing and Assistance Program in partnership with the Virginia Resources Authority.
“This critical funding will support projects that address multiple challenges including water quality, water supply and coastal resilience,” said Secretary of Natural Resources Matthew J. Strickler. “We look forward to continuing our partnership with HRSD and Hampton Roads communities to restore the Chesapeake Bay, reduce the impacts of climate change and conserve water resources to support sustainable economic development.”