On August 2, 2018 here in Virginia—where REVITALIZATION is published—Governor Ralph S. Northam announced $172,000 in Virginia Main Street grants. They include $132,000 awarded for seven projects in the towns of Abingdon and South Boston, and the cities of Bristol, Danville, Fredericksburg, Lynchburg and Winchester.
“Vibrant downtown neighborhoods are important to help our cities and towns attract new businesses, invite tourism and grow the Virginia economy,” said Governor Northam. “The Virginia Main Street grants support efforts to revitalize downtown buildings, spark new economic development and drive more private investment to these areas.”
A few days earlier, on July 31, 2018, Northam announced $1,440,000 in Industrial Revitalization Fund (IRF) awards to help redevelop vacant industrial properties in Middlesex County and the cities of Newport News and Norton. The IRF program provides gap financing for construction projects aligned with local and regional economic development strategies, primarily in distressed communities.
“Strong infrastructure is key to any successful economic strategy in the Commonwealth, and with this funding we are supporting the revitalization of vacant buildings that will bring new life, new business, and new opportunities to these communities,” said Governor Northam. “Strategic and targeted investments like these are critical to ensuring that localities have the resources to complete projects that will directly benefit their communities and spur regional economic development efforts.”
“Financial barriers often block the timely redevelopment of vacant structures,” said Secretary of Commerce and Trade Brian Ball. “The IRF program is intended to leverage local and private resources to achieve market-driven redevelopment of these structures, creating a catalyst for employment opportunities and ongoing economic revitalization in these communities. I’m pleased the Commonwealth can support these impactful projects in diverse communities.”
IRF projects were reviewed and evaluated competitively, with an emphasis on those with a high level of blight, identification of impediments to economic development efforts, alignment with regional or local strategies, availability of matching resources, the level of community distress where the property is located and an identified and feasible end use. The maximum award is $600,000 per project. Seven applications totaling more than $3.9 million in funding were received.
The Downtown Investment Grants (DIGs), administered by the Virginia Department of Housing and Community Development (DHCD), are for design and economic vitality projects targeting areas of specific need in historic downtown neighborhoods located in designated Virginia Main Street communities. These grants are available to designated Main Street organizations to accelerate the economic revitalization of their downtown districts by helping implement innovative strategies, plans and programs that create an environment for increased private investment.
To provide technical assistance and training certification, additional designated Virginia Main Street communities received funding, including the city of Franklin for consultant services to assist with vision and branding in FY 2019 and the city of Hopewell for National Main Street certification training.
“In the last five years, designated Virginia Main Street communities have generated more than $272 million in private investment in their downtown districts,” said Secretary of Commerce and Trade Brian Ball. “The Virginia Main Street program has been revitalizing our downtown communities for more than 33 years, and through these grants, we are continuing that hard work to create inviting downtowns to live, work and visit.”
In addition to the seven Downtown Investment Grants for the designated Virginia Main Street communities, six grants totaling $35,000 were given to Virginia Main Street Commercial District Affiliate communities to assist in achieving their downtown revitalization goals. The grants were awarded to the Columbia Pike Revitalization Organization in Arlington County, Russell County on behalf of the Dante Community Association, the city of Galax, and the towns of Narrows, Glade Spring and Stanardsville.
Commercial District Affiliate grants are offered by the Virginia Department of Housing and Community Development through the Virginia Main Street Program, the state’s coordinating program for Main Street America. The grants are designed to provide funding for projects or services that will assist communities or organizations in achieving their downtown revitalization goals.
In 1985, the Virginia Department of Housing and Community Development adopted the Main Street program for Virginia to help prevent downtown districts across the Commonwealth from economic decline. This unique program works to re-energize economic development of downtown communities while utilizing their cultural assets and character.
This is further accomplished by pooling the resources of their local civic and business leaders who are determined to bring their Main Street communities back to life. The innovative Main Street Approach uses design, promotion, economic vitality and organization to help localities build better communities. The Virginia Main Street program comprises 28 designated communities, one Virginia Downtown and more than 80 Commercial District Affiliates throughout Virginia.
Photo of downtown Lynchburg, Virginia via Adobe Stock.