Downtown Improvements

Appalachian

Appalachian Regional Commission (ARC)

Virginia’s Appalachian Regional Commission (ARC) funding fosters economic development and improves the quality of life for our Appalachian citizens. ARC provides assistance in the long-term development of a chronically depressed multi-state region, which includes 25 counties and eight independent cities in Virginia. ARC invests in water and sewer service to communities, workforce training for… Learn More

Industrial

Industrial Revitalization Fund (IRF)

The Industrial Revitalization Fund (IRF) leverages local and private resources to achieve market-driven redevelopment of vacant and deteriorated industrial and commercial properties. The program is targeted toward vacant non-residential structures whose poor condition creates physical and economic blight to the surrounding area in which the structure is located. Eligible properties include… Learn More

Opportunity

Opportunity Zones (OZ)

Opportunity Zones are a federal tax benefit available to investors with capital gains. Investors can make investments in low-income census tracts [IRC Section 45D(e)] that were nominated by the governor of Virginia and certified by the U.S. Treasury. A low-income census tract is defined as having an individual poverty rate of at least 20 percent or a median family income no greater than 80… Learn More

Small-Scale

Small-Scale Real Estate Development

Small-scale real estate developers can help advance community goals—one building at a time. Derelict commercial structures, vacant lots and existing stock of smaller structures offer opportunity for new businesses and quality housing. Successful towns and cities are not waiting for the right developer to come along; they are fostering the growth of their own local players—emerging development… Learn More

Virginia

Virginia Main Street (VMS)

The Virginia Main Street Program is a preservation-based economic and community development program that follows the Main Street Approach by the National Main Street Center. Virginia Main Street is a Main Street America State Coordinating Program that offers a range of services and assistance to communities interested in revitalizing their historic commercial districts. While the program was… Learn More